Podcast Summary: We Are For Good Podcast - Episode 586
Title: The Story of Higher Purpose Co.: Igniting Economic Justice in Mississippi - Dr. Tim Lampkin
Release Date: November 25, 2024
Host: We Are For Good (Jon McCoy, CFRE and Becky Endicott, CFRE)
Guest: Dr. Tim Lamkin, Founder and CEO of Higher Purpose Co.
Introduction
In Episode 586 of the We Are For Good Podcast, hosts Jon McCoy and Becky Endicott engage in an inspiring conversation with Dr. Tim Lamkin, the dynamic founder and CEO of Higher Purpose Co. This episode delves deep into Dr. Tim’s journey, the inception and growth of Higher Purpose Co., and its pivotal role in advancing economic justice in Mississippi. The discussion is enriched with personal anecdotes, strategic insights, and actionable advice for nonprofit professionals striving to make a significant impact.
Dr. Tim Lamkin's Journey into Economic Justice
Dr. Tim Lamkin shares his early experiences that ignited his passion for economic justice and community development. Growing up in Chicago’s West Side, Tim spent summers in Mississippi with his grandparents, observing a self-sustaining community that thrived through mutual support and collaboration.
Dr. Tim Lamkin [03:46]: “I really believe that I am trying to recreate that childhood experience in real time now by giving people something that was so precious to me.”
Moving permanently to Mississippi in middle school, Tim was mentored by Deacon Reuben Smith, a staunch advocate for social justice and education. This mentorship instilled in him the ethos that his work was meant to uplift the broader community.
Dr. Tim Lamkin [03:46]: “Everything that I have, everything that I do, is not for me. It's really to be a blessing to others.”
Founding Higher Purpose Co.
After gaining extensive experience in community economic development and recognizing the limitations of the corporate model, Dr. Tim took a bold step in 2015 by resigning from his position at a Community Development Financial Institution (CDFI) to establish Higher Purpose Co. His vision was to create an organization that could more effectively support economic opportunity and empower black communities in Mississippi.
John [09:14]: “Dr. Tim is doing all three of those, Tim, it's just awe-inspiring.”
In 2016, following an invitation to discuss his vision at the White House, Higher Purpose Co. was officially launched. Since then, the organization has grown into a vibrant, community-centric nonprofit with multiple impactful programs.
Programs and Initiatives
Higher Purpose Funding Network
Launched in 2019 with support from the Surtner Foundation, the Higher Purpose Funding Network serves as a capital convener and matchmaker for businesses in Mississippi. To date, the network has deployed over $1.5 million in direct grants, loans, and loan guarantees, facilitating business ownership and economic growth.
Dr. Tim Lamkin [10:36]: “We have deployed over $1.5 million to businesses, and that has been direct grants, that's been loans, loan guarantees.”
A distinctive feature of this program is its focus on humanizing the capital access experience, making the process liberating rather than daunting for applicants.
Higher Purpose Food
Recently introduced, Higher Purpose Food is a procurement initiative aimed at supporting farmers and food entrepreneurs. Partnering with prominent organizations like the CDC Foundation and the Robert Wood Johnson Foundation, this program is part of a national Hunger and Nutrition collaborative addressing access to quality, fresh food.
Dr. Tim Lamkin [13:00]: “We're working in conjunction with the Robert Wood Johnson foundation and the White House to really convene about how can we shape the systems that create access to quality, fresh food.”
Higher Purpose Hub
With a significant federal grant of over $2.2 million, the Higher Purpose Hub is set to become an economic opportunity center in Mississippi. This centralized hub will offer services and programs alongside amenities like a public art gallery, a civil rights museum, a food hall, and a market, fostering a vibrant community space.
Dr. Tim Lamkin [16:58]: “We're really thinking about this as a space, the hub being a space and also a strategy for the organization to think about this as a regional economic opportunity hub for Mississippi and across the mid-south.”
Shifting the Narrative and Storytelling
A core component of Higher Purpose Co.'s strategy is redefining the narrative around Mississippi. By actively changing internal stories and empowering community members to share their own, the organization counters negative stereotypes and highlights the positive developments within the state.
Dr. Tim Lamkin [18:30]: “We started to really change who the narrators were. We actually put ourselves in position so we can tell different stories.”
One notable example is the story of the Young family farm, which challenged existing perceptions by showcasing local agricultural innovation.
Dr. Tim Lamkin [19:00]: “We wanted to make sure people understood that underneath all of the drama... there's a lot of good work happening.”
Intergenerational Engagement and Community Building
Higher Purpose Co. places significant emphasis on intergenerational engagement, ensuring that diverse age groups are involved in community-building activities. This approach fosters mutual learning and strengthens community bonds.
Dr. Tim Lamkin [28:23]: “Creating spaces, safe spaces for everyone to exist and feel heard and feel seen.”
The annual Money Purpose Success Summit exemplifies this by offering separate programming tracks for youth and adults, promoting inclusive participation.
Dr. Tim Lamkin [29:00]: “It's really about creating a platform and really building that agency where people can see entrepreneurship, business ownership not as a second thought, but a potential plan A for them.”
Practical Tips for Economic Justice and Community Wealth
When asked for advice, Dr. Tim emphasizes the importance of aligning organizational capacity with community needs, continual learning, and genuine collaboration.
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Scale Rightly and Timely: Ensure that the scale of your initiatives matches the community's capacity and needs.
Dr. Tim Lamkin [23:00]: “Being able to right size our scalability has been really critical to also match the need of the community.”
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Engage in Continuous Learning: Organizations should prioritize learning and understanding their ecosystem to enhance their impact beyond local boundaries.
Dr. Tim Lamkin [23:30]: “We're thinking about how our decisions impact our partners in Arkansas and Louisiana, Georgia, and even D.C.”
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Collaborate with the Community: True impact stems from working with the community, not for them, fostering trust and mutual growth.
Dr. Tim Lamkin [24:10]: “Doing a temperature check is always relevant... Are we doing the right work with the right people at the right time?”
Personal Stories of Generosity
Dr. Tim shares a heartfelt story about his mentor, Deacon Reuben Smith, who demonstrated profound generosity by securing support for Tim’s first internship in the banking industry.
Dr. Tim Lamkin [32:49]: “He went around the community and organized and raised money for me to stay in Jackson... That was one of the most impactful moments for me.”
This act of kindness not only provided immediate support but also inspired Tim to prioritize helping others anticipate and meet their needs proactively.
Conclusion and Dedication
In a touching tribute, the hosts dedicate the episode to Deacon Reuben Smith, acknowledging his lasting impact on Dr. Tim and the foundational role he played in the establishment of Higher Purpose Co.
John [35:22]: “We dedicate this episode to him because I just think about like you, the higher purpose co started with Ruben's belief...”
The episode closes with encouragement for listeners to engage with Higher Purpose Co. and embrace the movement towards economic justice and community empowerment.
Final Thoughts
This episode of We Are For Good offers a comprehensive and inspiring look into the work of Higher Purpose Co. and Dr. Tim Lamkin’s unwavering commitment to fostering economic justice in Mississippi. Through strategic programs, community-centric storytelling, and intergenerational engagement, Higher Purpose Co. exemplifies how nonprofits can drive systemic change and build sustainable community wealth.
Key Quotes:
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Dr. Tim Lamkin [03:46]: “Everything that I have, everything that I do, is not for me. It's really to be a blessing to others.”
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Dr. Tim Lamkin [10:36]: “We have deployed over $1.5 million to businesses, and that has been direct grants, that's been loans, loan guarantees.”
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Dr. Tim Lamkin [18:30]: “We started to really change who the narrators were. We actually put ourselves in position so we can tell different stories.”
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Dr. Tim Lamkin [28:23]: “Creating spaces, safe spaces for everyone to exist and feel heard and feel seen.”
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Dr. Tim Lamkin [32:49]: “He went around the community and organized and raised money for me to stay in Jackson... That was one of the most impactful moments for me.”
Learn More:
- Higher Purpose Co. Website: higherpurposeco.org
- Connect with Dr. Tim Lamkin on LinkedIn: Dr. Tim Lamkin LinkedIn
- Follow Higher Purpose Co. on Social Media: Instagram, TikTok, and more.
Join the movement towards making a greater impact by engaging with Higher Purpose Co. and other inspiring initiatives featured on the We Are For Good Podcast.