Financial
Dramatic increase in LGBTQ-supportive companies on Nasdaq: report
Out Leadership survey shows 50% have inclusive board policies
A gay-owned organization called Out Leadership that advises corporations in the U.S. and abroad on how to adopt LGBTQ-supportive policies has released a report showing that the number of companies trading on the Nasdaq Stock Market that have adopted such policies for their boards of directors increased 1,556 percent from 2022 to 2023.
The actual number of companies trading on the Nasdaq that have adopted LGBTQ-supportive policies for their boards increased from 113 in 2022 to 1,871 in 2023, which the report describes as āastonishing.ā
Todd Sears, founder and CEO of Out Leadership, called the report āa clear indicator that executives are responding to the opportunity to expand the diversity of their boards, and fully embracing the power of inclusion to fuel their companiesā success in todayās marketplace.ā
In a statement released at the time the report was released on April 19, Sears added, āWeāre proud to share todayās global report, which shows that for the first time in history, over half of all Nasdaq companies have adopted board diversity policies ā and done so at a record-breaking pace.ā
He concluded by saying, āWe look forward to working with the other exchanges and companies around the world to continue this exciting momentum.ā
An announcement by Out Leadership, which Sears launched in 2010, says the report showing the dramatic increase in LGBTQ supportive corporate board policies was its third annual report on this subject, called āLGBTQ+ Board Diversity: Progress & Possibility.ā The announcement says the report was prepared by one of Out Leadershipās projects called OutQUORUM.
The report includes these findings:
ā¢ 50% of Nasdaq companies now have LGBTQ-inclusive board policies ā a record-shattering 1,556% increase in one year (113 in 2022, compared to 1,871 in 2023).
ā¢ 61% of Nasdaq companies now have gender-inclusive board diversity policies, a 206% increase since 2022 (750 in 2022 compared to 2,298 in 2023).
ā¢ 59% (2,197) of Nasdaq companies now have inclusive board policies based on race, a 318% increase since 2022 (526).
ā¢ The 2023 OutQUORUM report also shares for the first time data on LGBTQ board inclusion across the global stock exchanges of the FTSE, the ASX, and the Hang Seng.
Sears told the Washington Blade that corporate boards are important because the CEO of a company reports to the companyās board.
āThey are responsible for the governance of the company itself,ā he said. āThey cannot do day-to-day hiring decisions,ā he told the Blade. āBut they are responsible for setting the strategy for the company and holding the CEO and the CEOās leadership team accountable for the success of the company.ā
He said his Out Leadership company is known as a Certified B corporation. The companyās website provides details of what it does, including projects it pursues in other countries as well as in the U.S.
āA global LGBT+ business advocacy membership company advocating LGBT+ equality by creating positive economic and societal impact through the power of business,ā the Out Leadership website describes its mission as including.
āOur network of nearly 98 multinational companies and 450+ CEOs entrust us to leverage their platforms for social change while working alongside policymakers to publicly advocate for LGBT+ equality in order to positively impact the economy and their bottom lines, employees, customers, partners, and community,ā it says.
Sears said many of Out Leadershipās 98 member companies, including Wal-Mart, Microsoft, IBM, and Coca-Cola, are publicly traded on the New York Stock Exchange, which is the worldās largest stock exchange. He noted that Nasdaq follows closely behind the New York Stock Exchange as the second largest stock exchange.
But Sears said Out Leadership has not yet had any official interactions with the New York Stock Exchange itself.
āAs it relates to board diversity requirements, in contrast to the Nasdaq new rules, the NYSE has taken an approach that āadvocates diversityā without either suggesting new disclosure requirements or recommending diversity goals,ā Sears told the Blade in a statement.
āIt is worth noting that nowhere in NYSEās public discussions about diversity is LGBTQ mentioned or included in any definition,ā he said. āThey only speak about diversity in vague terms of gender and ādiversity,āā Sears said.
Sears has been credited with being among the first to emerge from within the corporate world to advocate full-time for LGBTQ supportive policies among businesses large and small.
He describes himself as a ārecovering bankerā and a ābit of a serial entrepreneurā who started his career in the investment banking industry in 1996 as an analyst in New York with Schroders, the British multinational asset management company.
From there, according to his LinkedIn page, he served from 1999 to 2001 as vice president of business development for DeSilva & Phillips, an investment bank focusing on media, technology, and marketing industries, before joining Merrill Lynch, the internationally known investment management and wealth management division of Bank of America, where he became Head of Strategic Initiatives at the firmās Office of Diversity during his close to seven years there.
Finally, before launching Out Leadership, Sears served just over two years with Credit Suisse, a global investment bank and financial services firm founded and based in Switzerland with offices in major financial centers around the world, including in New York City.
Sears makes no apologies for launching Out Leadership as a for-profit corporation with a business model of advocating for LGBTQ equality in business and beyond. He notes that, among other things, Out Leadership helped arrange for 65 business leaders to speak out against a proposed anti-LGBTQ law in North Carolina five years ago and helped line up 60 Wall Street banks to sign an amicus court brief in support of the Obergefell marriage equality case before the U.S. Supreme Court.
āMy philosophy is every place in the world these companies do business, LGBT people should be protected, respected, and legal,ā Sears told the Blade. āWe are still illegal in 67 countries. But in all of those countries our companies do business,ā he said.
āAnd so, the goal of our leadership is to use that kind of power that these companies have to roll back all 67 sodomy laws around the world as well as all the anti-trans laws obviously that weāre seeing here in the U.S.,ā he said. āThe idea is that the economic power that these companies have is in my opinion how we will also win equality.ā
The Out Leadership report on the Nasdaq company LGBTQ policies can be viewed here.
Further information on Out Leadershipās work can be accessed here.
As springtime fills the air, cherry blossoms are blooming, much of the year still lies ahead and many have started to think about how they are progressing with their 2024 goals. If the dream of buying a house was put on hold when the interest rates went from 3% to almost 8%, and life got in the way of an idea that had gotten onto your to-do list, maybe now is the time to dust it off.
Mortgage lender Tina Del Casale from Sandy Spring Bank says, āThere is still hope the Fed will be happy with inflation numbers by June to finally pull the trigger on lowering interest rates.ā
The rates might not be as low as they were in 2021, but historically, they are still not as high as they were 20 years ago. Some peopleās parents remember getting interest rates that were 12%, 14% or even higher.
One of the biggest questions I get at homebuyer seminars is about is the process. What is buying a house ACTUALLY like? I usually tell them that itās like anything else. One step at a time. One form at a time. One bank transfer at a time. One house showing at a time. One home inspection at a time. If you have the wherewithal to plan a vacation, you can buy a house.
- Finding a Realtor
- Finding a lender to get pre-approved (how much is your budget and what is a comfortable monthly payment)
- Are there any first-time buyer programs that could be used? Is there down payment assistance?
- Looking at the houses.
- Finding one you like, and putting an offer together:
- An offer usually involves a sales contract, any special forms that the jurisdictions require (lead-based paint acknowledgements, what appliances and systems in the house are included/excluded, if the home is part of a homeowners association, or a condo association, etc.)
- Any forms related to getting an inspection done.
- Who is selling the house, who is buying the house, how much is it being sold for, where it is exactly, and who are the others involved in the transaction (title company, agents, etc.)?
- Getting any inspections done.
- Negotiating any changes in the sales price or terms, or credits for inspection items.
- Getting the final approval for the loan and then going to settlement.
Many people get interested in buying a house, but the āunknownā of it all can be daunting. It could be that the best way to think about it, is that like most things in life, you canāt cross every bridge BEFORE you get there. You just take it one day at a time. Some things will be surprisingly easy. Some things will require the advice of experienced lenders, Realtors, home inspectors and title attorneys.
But if the process doesnāt begin somewhere, somehow, the idea just stays in oneās head in the āto do listā file. And then 3 years go by, 5 years go by, 7 years go by. And your friends that DID buy a house laugh themselves to the bank when they go to sell the house they bought 3 years ago, 5 years ago, or 7 years ago.
If you need any recommendations for a local lender or Realtor, please donāt hesitate to ask.
Joseph Hudson is a referral agent with Metro Referrals. Reach him at [email protected] or 703-587-0597.
Real Estate
Down payment strategies: Financing your home purchaseĀ
Understanding the options key to unlocking the door to a dream home
Navigating the path to homeownership can be a complex journey, especially when it comes to accumulating the necessary down payment. For members of our LGBTQ community, understanding the available options for saving and financing this crucial aspect of home buying is key to unlocking the door to their dream home. Let’s explore effective methods and resources specifically designed to support LGBTQ individuals on their path to homeownership.
Traditional Savings Strategies
Saving for a down payment often begins with traditional methods such as setting aside a portion of your income into a dedicated savings account. High-yield savings accounts and automated savings plans, some offering up to 5% interest in today’s market, can expedite the process, providing a disciplined approach to accumulate funds over time. Additionally, exploring investment opportunities that match your risk tolerance can offer potential growth for your down payment savings.
Down Payment Assistance Programs
A variety of down payment assistance programs exist to help homebuyers with their initial costs. These programs often offer grants or low-interest loans to first-time homebuyers or those who haven’t owned a home in the past three years.
It’s essential to speak with a GayRealEstate.com agent to determine what programs may be available, plus online research into local and state assistance programs, as many are designed to support individuals in specific communities, including the LGBTQ+ community.
For medical professionals, police, teachers, firefighters, and other community heroes, there are several special loan and assistance programs designed to help with home purchases, often offering benefits like down payment assistance, reduced closing costs, and more favorable loan terms.
The Hero Home Loan Program provides first responders, including police officers, firefighters, and paramedics, with benefits such as lower interest rates and reduced closing costs. This program aims to make homeownership more accessible by offering more flexible credit score requirements and down payment assistance .
For educators, firefighters, law enforcement officers, and medical professionals, the Everyday Hero Housing Assistance Fund (EHHAF) offers closing cost assistance through gift funds. This program is designed to support those who serve their communities by making homeownership more affordable, with no repayment required for the grant fundsāā.
The HUD Good Neighbor Next Door Program offers up to 50% off the list price of homes for law enforcement officers, pre-Kindergarten through 12th-grade teachers, firefighters, and emergency medical technicians. This initiative aims to encourage community revitalization by assisting these professionals in homeownership within the communities they serveāā.
Homes for Heroes provides assistance specifically to first responders and offers significant savings through Hero Rewards when buying, selling, or refinancing a home. On average, participants save $3,000, with the program offering real estate and mortgage specialist connections tailored to the needs of first respondersāā.
LGBTQ-Friendly Lending Options
Finding a lender that understands and supports the unique needs of our LGBTQ community can make a significant difference. Some lenders and organizations specialize in offering inclusive financial products and resources to assist LGBTQ+ homebuyers. These may include specialized mortgage products, financial planning services, and guidance through the home buying process.
The journey to homeownership is a milestone that requires careful planning and support. Remember, every step taken towards saving and financing your home purchase brings you closer to the dream of homeownership.
(GayRealEstate.com offers valuable resources and advice tailored to meet the unique needs of our LGBTQ+ community in their journey towards homeownership. For more comprehensive guidance and support in navigating the home buying process, visit GayRealEstate.com choose an agent and start a no-obligation conversation today.)
Jeff Hammerberg is founding CEO of Hammerberg & Associates, Inc. Reach him at [email protected].
Real Estate
Turn your bare walls into captivating focal points
Paint, wallpaper, statement installations and more
Are you tired of gray walls and white kitchen cabinets with white granite or marble countertops? Have you gone back to the āBuilder Beigeā that was popular in the ā90s?
Your walls are the blank canvases of your home, waiting to be transformed into stunning expressions of your personality and style. Whether you prefer vibrant artwork, paint, eye-catching wallpaper, or statement walls, there are countless ways to adorn and decorate your walls to elevate your space. Here’s a guide to help you turn those bare walls into captivating focal points.
Wallpaper: Wallpaper has again become a versatile option for adding texture, pattern, and color to your walls. Whether you prefer subtle designs or bold prints, there’s a wallpaper to suit every taste.
It now even comes in peel and stick rolls, so you donāt have a mess of water and paste. For some new designs, check out www.spoonflower.com.
Before selecting wallpaper, consider the scale of your room and the atmosphere you want to create. For small spaces, opt for light, airy patterns to make the room feel more spacious. Conversely, in larger rooms, you can go bold with intricate designs or vibrant colors to make a statement. Don’t be afraid to mix and match wallpaper with paint, or even wallpaper the ceilings for a unique and dynamic look.
Statement Walls: Statement walls are a bold way to add personality and drama to any room. From accent paint colors to textured finishes, the possibilities are endless. Consider using a contrasting color or texture to highlight a specific wall and create visual interest. For a contemporary touch, try incorporating geometric patterns or asymmetrical designs with strips of wood. Hand-painted murals are another option for creating striking statement walls. Choose a mural that reflects your interests or transports you to another world for a truly immersive experience.
Paneling/Brick: The shiplap phase may be dying out, but there are still many ways to use wood and paneling in your wall dĆ©cor. Reclaimed wood is a popular option, as are wood slats such as the ones found at www.woodpanelwalls.com. Use them on walls or ceilings, or as a background for wall-mounted televisions and sconces. Amazon also has lots of options for wood veneer available and exposed brick is popular in many contemporary homes. If you donāt have a brick wall to uncover, select from options such as lightweight faux brick or stone.
Artwork: Art has the power to breathe life into any room. When choosing artwork, consider pieces that resonate with you personally and complement your existing dƩcor. Experiment with a mix of styles, sizes, and mediums to create visual interest. Hang artwork at eye level to ensure it is easily visible and balanced within the space. Enhance gallery walls by arranging multiple pieces in a cohesive layout. Remember that art is subjective, so whether you choose an inexpensive poster or a gallery quality painting, select pieces that speak to you.
Photo Displays: Showcase your favorite memories and moments with a curated photo display. Whether it’s a collection of family photos, travel snapshots, or artistic prints, arranging photos on your walls adds a personal touch to your space. Try out different frames, sizes, and layouts to create a gallery-style display that reflects your unique style. It makes a nice presentation on that odd wall going up your stairs.
Mirrors: Mirrors are not only functional but also serve as decorative accents that can enhance the visual appeal of any room. Strategically placing mirrors on your walls can create the illusion of space, brighten dark corners, and reflect natural light. Choose mirrors with interesting frames or shapes to add an extra layer of style to your dƩcor. Try different sizes and arrangements to find the perfect balance between form and function.
Textile Hangings: Textile hangings are a bohemian-inspired alternative to traditional wall art. From tapestries to woven rugs, textile hangings add warmth, texture, and color to your walls. Hang a large tapestry behind your bed as a dramatic headboard alternative or layer smaller textiles with framed artwork for a cozy, eclectic look. Consider mixing and matching different textures and patterns to create visual depth and dimension.
Adorning and decorating your walls is a creative and personal process that allows you to infuse your space with personality and style. The key is to trust your instincts and have fun with the process. Use different techniques, colors, and textures until you find the perfect combination that speaks to you and transforms your walls into works of art. With a little imagination and creativity, you can turn any blank wall into a stunning focal point that reflects your unique taste and aesthetic.
Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH Real Estate/@properties. Call or text her at 202-246-8602, email her via DCHomeQuest.com, or follow her on Facebook at TheRealst8ofAffairs.
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