Queer Money®: How Gay People Do Money - Ep. 62 - Destination Tomorrow Allows LGBTQ Youth to Shine

Ep. 62 - Destination Tomorrow Allows LGBTQ Youth to Shine

08/08/17 • 43 min

The LGBTQ population in every community deserves local access to medical and legal services – and a safe space to meet up. When Sean Coleman saw that the South Bronx was lacking, he cashed out his 401K and founded the non-profit Destination Tomorrow, an organization that serves LGBTQ youth 13 to 24 years of age, with a focus on the transgender community. When Sean established the agency in 2009, he was the sole employee. (Well, perhaps ‘volunteer’ is a more accurate term since he did without any income whatsoever for the first two years!) Despite a number of struggles – including the loss of his condo – Sean knew that Destination Tomorrow was his purpose, so he persevered. Today Sean serves as the Executive Director of a growing organization, leading a staff of eight salaried employees who served more than 300 individuals in 2016. Today Sean discusses the services offered at Destination Tomorrow, how he approaches financial literacy with a population that distrusts the banking system, and his advice for others who may want to initiate similar programs in their own community. Listen in as Sean explains how you can get involved in making your community a safe space and shares success stories of individuals served through Destination Tomorrow! Topics Covered The programs offered at Destination Tomorrow • Drop-in program (safe space) • Economic empowerment • GED-readiness program • Housing referrals • Medical, mental health referrals The statistics around homelessness and the LGBTQ population • 51% of homeless in South Bronx are LGBTQ • Majority of that 51% are individuals of color • Many have aged out of foster care system How Sean funded Destination Tomorrow in the beginning • Cashed out 401K • Filed for bankruptcy when personal funds ran out • No income whatsoever in first two years How Sean maintained the courage to keep going • Had come too far to give up • Built momentum with each small victory • WHY was important enough to persevere Destination Tomorrow’s Financial Literacy Program • Partnership with TD Bank • Community unfamiliar with conventional banking • Teaches importance of saving, understanding credit • Students learn basic banking (i.e.: reconcile checkbook, budgeting) • Participants can open bank account with $25 Why financial security is the foundation of a strong queer community • Can’t give back, support community when struggling • Make poor decisions when resources lacking How Destination Tomorrow’s Financial Literacy Program counters the community’s distrust of banks • MassMutual’s LGBTQ Financial Security Summary reports that 59% of LGBTQ community doesn’t trust banks • Understanding the process eases fears (e.g.: overdraft fees) • Education around establishing cushion, overdraft protection • Build relationship with TD bank rep, Barton How fear for physical safety is connected to carelessness with money • May spend money don’t have for cab fare • Must work to change environment • Promote understanding that money provides a certain amount of protection Destination Tomorrow’s KIKI World events • Based on cult classic Paris is Burning • Participants compete in stage competitions (known as KIKI Balls) • Youth meet every Thursday to prep (KIKI Lounge) • Affords staff opportunity to build rapport with young people, connect with services when appropriate The end goal for Destination Tomorrow youth • Self-sufficiency • Ready for employment • Understand what independent living looks like • Healthy etc. How Destination Tomorrow is funded today • Private foundation grants • Two city grants, one state grant • Individual giving plan

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Previous Episode

Ep. 61 - 5 Steps to Prepare for Financial Emergencies in Your Sleep

This simple, five-step guide from our Queer Money podcast will prepare for financial emergencies with your eyes closed. Dealing with an emergency is difficult enough, but add to that the stress of not being able to cover your bills afterward. An unexpected accident, illness or car repair can leave you in a lot of financial pain long after the initial crisis. According to a recent MassMutual study, half of our community would be in real financial trouble if faced with an unexpected expense of $5,000. If you’re stressed just thinking about it, listen in as David and John cover the five steps to getting prepared for a financial emergency. Today the Debt Free Guys address emergency savings goals, the importance of having a separate account for this money, and the value of direct deposit in gradually building enough savings to cover six months of living expenses. Learn why it’s essential to build your emergency savings before you deal with other financial goals and when ‘out of sight, out of mind’ is a good thing! If you’re not prepared for a financial emergency, it’s time to start building your emergency savings today – with these five simple steps! Gay Podcast Queer Money by Mass Mutual Topics Covered to Prepare for Financial Emergencies Standout data from the MassMutual LGBTQ Financial Security Summary Four in five say high debt levels make managing finances difficult 25% report having less than $500 in savings 50% say an unexpected expense of $5,000 would cause real cutbacks/they would not get by John and David’s advice on determining emergency savings goals Eventually, save enough to cover three to six months of living expenses Do whatever it takes to save $500 as quickly as possible (insurance deductibles) Step 1: Create a basic, no-frills savings account separate from all others Separate financial institution, challenging to access Leverage your laziness Step 2: Note your account information Account number Nine-digit transit routing number Step 3: Establish a direct deposit from employer Complete employer’s direct deposit form Portion of paycheck automatically sent to emergency savings Avoid reviewing statements (out of sight, out of mind) Step 4: Choose an amount to set aside each month Direct deposit allows for consistent contribution Make small changes (i.e.: giving up one lunch per week) Step 5: Increase your contribution in proportion to pay increases Emergency savings should grow with your success 3% raise on $50K = $100/month after taxes Contribute at least $25 to emergency savings John and David’s next steps once emergency saving is established Shift focus to other goals, i.e.: paying off debt Set up additional accounts for specific purposes (e.g.: home improvements, vacations) Generic Direct Deposit Form - http://debtfreeguys.com/wp-content/uploads/2017/07/Generic-Debt-Free-Guys-Direct-Deposit-Form.pdf Automating Your Emergency Savings Checklist - http://debtfreeguys.com/wp-content/uploads/2017/07/Debt-Free-Guys-Automating-Your-Emergency-Savings-Checklist.pdf

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Next Episode

Ep 63 - Robert Carter Talks Men in Tights – and Pointe Shoes

You can dance if you want to. And wear a tutu, too! Robert Carter is a dancer with Les Ballets Trockadero de Monte Carlo, an all-male drag ballet company that pays tribute to – and pokes fun at – the classical Russian stars of dance. The male dancers portray ballerinas (with great names like Ida Nevaseyneva), using their incredible athleticism to dance on pointe and exaggerate traditional choreography for comic effect. Robert was one of four dancers in the company featured in the documentary Rebels on Pointe, a Bobbi Jo Hart film revealing the history of Les Ballets Trockadero de Monte Carlo. Robert Carter’s story runs parallel to that of the fictional Billy Elliot. He grew up in Charleston, South Carolina, in a working-class family. His mother made sure that he and his sisters were exposed to the arts, and Robert was involved in community theatre at a very early age. The man who would become his dance teacher noticed him singing a solo at the Spoleto Festival and approached Robert’s mother to offer the opportunity for ballet lessons. Robert attended his first class when he was seven, and he has been dancing ever since. After high school, Robert received a scholarship to take a summer course in New York with the Joffrey Ballet School. His impressive resume also includes roles with the Bay Ballet Theatre, the Florence Civic Ballet, and the Dance Theatre of Harlem Ensemble. Robert joined Les Ballets Trockadero de Monte Carlo in 1995, and in his 23 years with the company, he has performed at some of the grandest venues in the world, including the Bolshoi Theatre and the Opéra de Monte-Carlo. Today he shares his journey from Charleston to New York and beyond, explaining the challenges of being gay in the South, the message of Les Ballets Trockadero de Monte Carlo, and his experience being featured in the documentary film about the company. Topics Covered • The origin of Les Ballets Trockadero de Monte Carlo • How Robert got into ballet as a boy in South Carolina • How Robert’s father reacted to his desire to dance • Offended by prospect • How Robert coped with being a gay man in the South • Robert’s journey to NYC • The bias that pointe work is only for women • The message of Les Ballets Trockadero de Monte Carlo • The Trockadero documentary, Rebels on Pointe • The physical demands of dancing with the Trocks • The benefits of pointe work for male dancers • Where the Trocks get their pointe shoes • Robert’s favorite ballerinas • The importance of acting ability in ballet • How to encourage more boys to do ballet • Why it’s acceptable to start ballet as an adult • Robert’s plans for the future

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