There is perhaps no place in the world more emblematic of American black culture than New York City’s Harlem neighborhood. And within this area, there may be no more important research center than the Schomburg Center for Research in Black Culture.
As part of the New York Public Library, the Schomburg Center is world-renowned — a globally-recognized authority on the history and culture of people of African descent. Locally, the Schomburg Center’s role is just as key — a point of pride, prestige, culture and education in a thriving, growing community — a place for professors, researchers, students and their families to learn.
The problem is, this monument to black culture has fallen in disrepair. Budget limits wouldn’t allow improvements: Improvements like the proper way to preserve invaluable archives; technology advancements; even a proper façade.
With the New York Public Library budget stretched, how could the Schomburg Center acquire the needed financing? This globally-famous institution got some creative help from Citi, a global bank looking to make a local difference, which leveraged a federal tax program. How did they do it?
Dr. Khalil Gibran Muhammad, Ph. D is the Director at the Schomburg Center for Research in Black Culture. Gina Nisbeth is the Director of Citi Community Capital.