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When it comes to investing in Airbnb rentals, the goal of every real estate investor is to find investment properties for sale that promise a high return on investment. And…

One of the key steps to getting started in real estate is getting your investment property financing in order. The method you use for financing rental properties can make or…

The storied Druid Hills home of suffragette and Emory University’s first female graduate, Eléonore Raoul, is on the market for $2.7 million.

The home at 870 Lullwater Road was built in 1914 for railroad magnate William Greene Raoul and his family. It was one of the first to be built in what was then the new neighborhood of Druid Hills, designed by renowned landscape architect Frederick Law Olmsted. Sadly, Raoul would pass away before the home’s completion, but his wife, Mary Millen Wadley Raoul, and family, including daughter Eléonore Raoul, moved in upon the home’s completion.

Mary Raoul was active in many community organizations, and founded The Every Saturday Club, which developed free kindergartens in her new home city of Atlanta. Daughter Eléonore Raoul followed her mother’s lead, becoming involved in numerous causes. She served as president of the Atlanta Chapter of the Georgia Woman Equal Suffrage League and Chair of the Fulton and DeKalb County branches of the Equal Suffrage Party of Georgia. Among her many accomplishments, however, Eléonore is perhaps best known locally as the first woman to be formally enrolled at Emory University.

As the story goes, knowing Chancellor Warren Candler’s objection to women students at Emory, Eléonore walked to the nearby campus while the Chancellor was away and enrolled in Emory University’s Lamar School of Law in 1917. She graduated in 1920, and two years later was named president of the Atlanta League of Women Voters. She married former Emory classmate Harry L. Greene, and the two lived with their three children in the family home at 870 Lullwater Road. In 1979, Emory University established the Eléonore Raoul Trailblazer Award which is given to an Emory Law School alumna who has blazed a trail for others through her own professional and personal endeavors. Eléonore lived to be 94 and died in 1983.

“The opportunity to own this historic estate home designed by Walter T. Downing is an opportunity to own a part of Atlanta’s rich history,” said Kellum Smith of Engel & Völkers Buckhead Atlanta, who has the property listed. “I love that this home is where Eléonore Raoul lived and worked. I can envision her in front of the library fire making plans and writing speeches late into the night to embolden the suffragettes. As a real estate professional who specializes in Druid Hills and Atlanta’s best Intown neighborhoods, I am always surprised by how many people do not know about the Druid Hills neighborhood and its gorgeous architecture and rich history. If you have been to Callanwolde Fine Arts Center, Fernbank Museum of Natural History or the Druid Hills Golf Club, then you have been to Druid Hills. The neighborhood is also home to the famous “Driving Miss Daisy” house, which is just three doors down from 870 Lullwater Road.”

The Raoul and Greene family home remains as gracious as it did during Eléonore’s long life. The English-style Tudor home on two acres has only had a few owners over its 100+ years, and retains its splendid architectural features. It’s situated on a hilltop with treetop views of the Lullwater Conservation Garden and Bird Sanctuary from the front terrace, library and master suite. Fortunately, the home’s owners have appreciated its many original architectural elements and left them unchanged through the years. The home also boasts seven fireplaces with original surrounds, limestone lintels in the solarium, mahogany pocket doors leading to a private suite of upstairs rooms, slate roof, copper gutters and much more. Outside, the rear of the home includes a private courtyard, guest house, fire pit, and an English-style herb and flower garden. Landscape architect Ed Castro designed the grounds in keeping with the home’s history.

For more photos and information about the home, visit this link.

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Project South, the Hunger Coalition of Atlanta  and Mutual Aid Liberation Center have partnered with Community Organized Relief Effort (CORE) to offer free drive-through and walk-up COVID-19 testing at 9 Gammon Ave. SE.

The new testing site prioritize the neighborhoods in and around South Atlanta – especially low-income Black families, elders, and those who do not have access to healthcare – but is free and open to all.

The testing site will continue for four weeks. CORE, the nonprofit created by actor Sean Penn, is also operating a testing site at Mercedes-Benz Stadium.

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The Korn Ferry Tour announced today additional modifications and details regarding the restart of the 2020 schedule and a fall calendar of events that will be part of a one-time, combined 2020-21 Korn Ferry Tour season. Included in the fall series of tournaments is the Savannah Golf Championship, which will be contested the week of September 28-October 4 at The Landings Club – Deer Creek Course.
 
The 2020 Savannah Golf Championship, which was originally scheduled for the week of March 30-April 5, was postponed on March 17 due to the COVID-19 pandemic. The event is now one of five tournaments that will make up the Korn Ferry Tour’s new fall schedule.
 
“We are excited to announce this new date for the Savannah Golf Championship as we look to bring Korn Ferry Tour golf back to our city in 2020,” said Tournament Director Cheyenne Overby. “We appreciate the ongoing support of our partners, The Landings Club and volunteers as we work towards tournament week, knowing we will only contest this event if deemed safe to do so under the guidance of leading public health authorities.”
 
The announcement of a fall schedule comes after the PGA TOUR announced last week that, due to circumstances related to the COVID-19 pandemic and the cancelation or postponement of 13 events from the 2019-20 TOUR Season, eligibility has been extended for exempt 2019-20 PGA TOUR members for the 2020-21 season. These adjustments will result in the Korn Ferry Tour not having a graduating class in 2020; however, the TOUR has established a performance benefit for the top 10 from the Korn Ferry Tour points list following the conclusion of the Korn Ferry Tour Championship presented by United Leasing & Finance. Those players will be granted access into all PGA TOUR additional events for the 2020-21 season.
 
The newly created 2020-21 Korn Ferry Tour schedule that will bridge two seasons will conclude with 25 PGA TOUR cards awarded at the 2021 WinCo Foods Portland Open presented by KraftHeinz, with an additional 25 cards awarded at the conclusion of the 2021 Korn Ferry Tour Finals.
 
With six events completed through the El Bosque Mexico Championship by INNOVA, the remaining 2020 schedule – subject to change – now consists of 23 events. Korn Ferry Tour events to be contested in 2021 as part of the combined 2020-21 schedule will be announced later this year.
 
The restart to the 2020 Korn Ferry Tour season will begin as previously announced with the Korn Ferry Challenge at TPC Sawgrass in Ponte Vedra Beach, Florida. The event will now be one of four new events in the first six weeks back to play that have been created by the Tour to make up for the cancelation or postponement of events affected by COVID-19.

Since the postponement of the Masters Tournament, Augusta National Golf Club has donated approximately 2,000 lbs. of produce, bread and dairy items and more than 50,000 bags of potato chips to Golden Harvest Food Bank. The food is being used to create meals at The Master’s Table Soup Kitchen in downtown Augusta and is also being distributed to families in need across the Food Bank’s 25-county service territory.

“The Masters Tournament is near and dear to us here in Augusta and around the world. In a time when we’re all grieving things we have lost, it’s encouraging to see true redemption of resources come out of this situation,” said Amy Breitmann, Executive Director of Golden Harvest Food Bank. “Using this food from the Masters to feed guests at our soup kitchen and families across our service area perfectly illustrates that we are all in this together. It’s neighbors helping neighbors by taking something that was lost and giving it new purpose.”

Guests at The Master’s Table Soup Kitchen recently enjoyed the iconic bagged potato chips alongside ham, lettuce and tomato sandwiches and apples, all packed conveniently into a to-go container.

“During this health crisis, we continue to serve about 300 meals at The Master’s Table every day with a limited staff. This donation rounded out a simple, healthy lunch with a treat — and made all of us smile,” said LaDonna Doleman, manager at the soup kitchen.

Augusta National Golf Club also contributed significantly to the CSRA COVID-19 Emergency Response Fund, which is being managed by the Community Foundation for the CSRA and the United Way and distributed a grant of $50,000 to Golden Harvest Food Bank in April. The funds from this grant will provide nearly 200,000 meals to area seniors, children, and families who are struggling due to the coronavirus crisis.

“The impact of Augusta National Golf Club’s generosity is two-fold: it is making food purchases possible and bringing smiles to the faces of families in need,” Breitmann said. “Right here in our community is an example for organizations across the country of how the creative use of resources can assist the overwhelming need that food banks across the Feeding America network face during the COVID-19 crisis.”

Seeking to offer support and financial stability to small businesses in Atlanta that have been hard hit by the COVID-19 crisis, the Atlanta Wealth Building Initiative (AWBI) today announced it has launched the COVID-19 Small Business Relief Fund. The program will make $500,000 in grants and forgivable loans available to qualified African American businesses in Southwest, Southeast, and Northwest Atlanta.

According to AWBI, the resources will be distributed in three ways: as general operating support grants for nonprofits supporting the black business community; as grants for community-based small businesses, as well as forgivable loans to small businesses that can also serve as a vehicle to establish business credit for those who are able to pay off the loan. Since the COVID-19 crisis hit Atlanta, AWBI has already provided support to 15 small businesses across the city including Local Green, a Westside Atlanta restaurant focused on reducing health disparities in underserved populations by providing healthier food choices to communities who need it most.

“This grant has come at such a critical time, allowing us to rehire staff that were laid off, expand our catering and food truck services, accept more online/mobile orders, as well as other changes we need to make in order to adapt to these times,” said Local Green Founder and Owner Zachary Wallace. “I am more confident than ever that we’ll get through this time.”

The COVID-19 pandemic is having a negative and disproportionate impact on small businesses throughout the city of Atlanta. Businesses are grappling with a loss of sales, fewer customers, and the risk of laying off employees. These challenges can have devastating effects as many small businesses provide employment to local residents and offer products and services in communities often ignored by national retailers. Black-owned businesses, in particular, are likely to feel the devastating effects of COVID-19 more severely and likely for a longer period of time.

“More than half of businesses owned by people of color have zero to 10 days of working capital and many of the types of community-based black-owned businesses — professional services, barber shops, beauty salons, and restaurants — are more vulnerable to the pandemic,” explained McLawhorn Ryan. “Moreover, with black-owned businesses significantly lagging behind white-owned businesses in regards to business value, access to capital, and access to technical expertise, even before the COVID-19 pandemic, the economic loss facing businesses of color will have exponential financial impacts on families and communities throughout the city. The goal of the COVID-19 Small Business Relief Fund is to help get resources to the businesses and organizations that need them the most.”

Thanks to critical support from the Greater Atlanta COVID-19 Recovery and Response Fund, a partnership between the Community Foundation for Greater Atlanta and United Way of Greater Atlanta, and more recently, support from The Arthur M. Blank Foundation, AWBI was able to extend the fund to even more community-based small businesses impacted by the pandemic.

“The support from the Greater Atlanta COVID-19 Response and Recovery Fund was instrumental in launching the Atlanta Wealth Building Initiative COVID-19 Small Business Relief Fund,” said AWBI executive director Latresa McLawhorn Ryan. “It will allow us to provide immediate support to more than 45 Black-owned small businesses and nonprofit organizations in some of the hardest hit and under-resourced communities in Atlanta.”    

AWBI is also leading a coordinated, inclusive effort to understand the challenges and opportunities businesses, especially businesses owned by people of color, are experiencing as a result of the COVID-19 virus. Partnering with Georgia Watch, Georgia Micro Enterprise Network and Uhuru Concepts, AWBI surveyed 600 businesses across the city in order to quickly understand needs and mobilize resources during this difficult period. Results of the survey indicated that the greatest needs for small businesses include funding to cover rent, payroll and technical assistance for the next 1-3 months. Survey results informed the grant criteria for AWBI’s first round of funding which included grants ranging from $2,500 – $25,000. A second round of support will be distributed as additional funds become available. Additionally, AWBI will offer a forgivable loan program in July.

“We are delighted to partner with The Arthur M. Blank Foundation. Because of its generous support, we will be able to support up to an additional 8-10 community-based small businesses during our second round of grant funding,” said McLawhorn Ryan.

Based on initial survey results, AWBI projects community-based small businesses in the communities it serves will need at least $3 million of dedicated support for direct capital and technical assistance to begin to respond to the effects of this crisis in earnest.

AWBI has also created a COVID-19 Small Business Resource List which compiles known funding and technical assistance resources available to the small business community.

Primerica, Inc. announced financial results for the quarter ended March 31, 2020. Total revenues of $524.9 million increased 6% compared to the first quarter of 2019. Net income of $72.5 million decreased 8%, while earnings per diluted share (EPS) of $1.75 decreased 5% compared to the same quarter last year. The decline in both net income and EPS were driven by pre-tax realized losses on the invested asset portfolio of $10.0 million and mark-to-market adjustments on the reinsurance deposit asset of $6.4 million in the current quarter.

Adjusted operating revenues, adjusted net operating income and diluted adjusted operating earnings per share, which are non-GAAP financial measures, continue to exclude the impact of realized gains/losses and the mark-to-market adjustment on the reinsurance deposit asset. A reconciliation of non-GAAP to GAAP financial measures is included at the end of this release.

Adjusted operating revenues were $541.3 million, increasing 10% compared to the first quarter of 2019. Adjusted net operating income of $85.0 million increased 13%, while diluted adjusted operating earnings per share of $2.05 increased 18% compared to the same quarter last year.

First quarter results reflect strong sales and financial performance in both the Term Life and Investment and Savings Products (ISP) segments. Term Life operating revenues increased 10% year-over-year due principally to an 11% increase in adjusted direct premiums, while pre-tax income increased 18%, reflecting favorable year-over-year trends in persistency. ISP revenues increased 14% and pre-tax income grew 12% year-over-year, led by robust sales and growth in average client asset values. The significant market downturn at the end of the quarter led to an increase in Canadian Segregated Fund DAC amortization in the period. During the quarter, the Company repurchased $90 million of common stock toward its $250 million goal for the year.

“Our quarterly results reflect the strength of our financial position and the sales momentum that has been building for some time,” said Glenn Williams, Chief Executive Officer. “While the COVID-19 pandemic may adversely impact our financial results in the near-term, our strong momentum at its onset and the flexibility of our sales force and distribution model give us confidence that we will be able to navigate through this major health crisis and any economic downturn.”

First Quarter Distribution & Segment Results

_____________
(1) End of period
(2) Life productivity equals policies issued divided by the average number of life insurance licensed representatives per month
* Not calculated or less than 1%

_____________
(1) See the Non-GAAP Financial Measures section and the Adjusted Operating Results reconciliation tables at the end of this release for additional information.

Life Insurance Licensed Sales Force
During the first quarter, we ran two incentives that offered discounted independent business application fees to new recruits. The first was held in early January to generate excitement at the start of the new year and the second in late March as COVID-19 concerns began to emerge. These incentives, combined with strong recruiting momentum during the non-promotion period, led to a 34% increase in the number of new recruits year-over-year. New life licensed representatives increased 5% year-over-year, facing some headwinds in March as testing sites began to close due to the pandemic. As of March 31, 2020, the Company had 130,095 independent life-licensed representatives, largely unchanged year-over-year.

Term Life Insurance
Life insurance policies issued during the first quarter increased 11% to 71,318, reflecting the momentum that began late last year and reversing a quarterly deceleration of productivity experienced over the last few years. Productivity for the quarter was 0.18 policies per life insurance licensed representative, up from 0.16 policies per life insurance licensed representative in the prior year.

Revenues of $327.7 million increased 10% compared to the first quarter of 2019 and pre-tax income of $82.9 million increased 18% year-over-year. Performance was driven by 11% growth in adjusted direct premiums and strong, favorable trends in persistency. Benefits and claims were in line with historical experience. Insurance expenses increased 13% from growth in the business and enhanced technology-related capabilities.

Given the timing of the onset of the COVID-19 pandemic in the U.S. and Canada, the Term Life Insurance segment’s production and financial results were not notably impacted by the pandemic in the first quarter.

Investment and Savings Products
Total product sales during the current quarter were a record $2.2 billion, a 28% increase compared to the same quarter last year. The increase in sales was due to a combination of strong demand for mutual funds and variable annuity products and, to a lesser degree, higher sales of managed accounts. Average client asset values were $66.6 billion, increasing 8% year-over-year. The impact of market disruption during the quarter reduced quarter-end client asset values to $59.0 billion. Net client inflows were $543 million, compared to $227 million in the first quarter of 2019, reflecting strong year-over-year sales growth and redemptions that were in line with the growth in client asset values.

Revenues of $185.0 million during the quarter increased 14% compared to the same quarter in 2019 and pre-tax income of $47.7 million increased 12% year-over-year. Sales-based revenues grew 21% in-line with growth in revenue-generating product sales, while asset-based revenues grew 11% due to growth in average client asset values. Sales and asset-based commission expenses generally grew in-line with the associated revenues. The market disruption at the end of March adversely impacted Canadian segregated fund DAC amortization by $1.8 million in contrast to favorable market conditions in the first quarter of 2019 that lowered amortization by $1.9 million in the prior year period.

Corporate and Other Distributed Products
During the quarter, the Company recorded an adjusted operating loss before taxes of $19.6 million compared to an adjusted operating loss before taxes of $15.6 million during the first quarter of 2019. The year-over-year increase in pre-tax loss includes a $1.6 million charge to recognize an allowance for reinsured benefits and claims on a discontinued line of business ceded in 1995 to a reinsurance counterparty that was ordered into receivership this year. Additionally, allocated net investment income was $2.0 million lower as a higher proportion of investment income was allocated to the Term Life Insurance segment to support growth in the business.

Taxes
The first quarter effective income tax rate was 23.4% which is higher than last year’s first quarter rate of 22.7%. The difference is largely driven by a lower tax benefit being recognized on vested equity awards as the difference between the grant and vest prices was smaller on awards vesting this year than on those vesting in the prior year period.

Capital
During the first quarter, the Company repurchased 880,222 shares of common stock for $90 million. The Company expects to repurchase $250 million of its common stock during 2020. The Board of Directors has approved a dividend of $0.40 per share, payable on June 15, 2020, to stockholders of record on May 22, 2020.

Primerica has a strong balance sheet and continues to be well-capitalized to meet future needs. Primerica Life Insurance Company’s statutory risk-based capital (RBC) ratio was estimated to be about 430% and holding company liquidity of $272 million as of March 31, 2020.

Jericho Brown, Emory’s Winship Distinguished Research Professor in Creative Writing, has won the Pulitzer Prize for Poetry for his latest collection, “The Tradition.”

The 2020 Pulitzer Prizes were announced via video May 4. The prize for poetry is given annually to a “distinguished volume of original verse by an American author.” In selecting Brown’s book for the honor, the Pulitzer board called it “a collection of masterful lyrics that combine delicacy with historical urgency in their loving evocation of bodies vulnerable to hostility and violence.”.

“I have known about the Pulitzer Prize and understood its prestige since I was in elementary school and Rita Dove won it,” Brown says. “And I’m so glad I understood it as one of the possibilities for a writer even when I was a kid.

“Understanding it as a possibility doesn’t mean I ever expected to win it, and getting the news that I won is the very best thing to happen to me in 2020 by far,” he adds. “I didn’t expect to win it because when I write my poems I mean to be as subversive and radical as possible.”

Since being published in April 2019, “The Tradition” has received glowing reviews lauding Brown’s “compelling and forceful” brilliance for raising “imperative questions” that capture the intimate stakes in broader worries about safety, terror, freedom and love.

Brown invented a new poetic form called the “duplex” to challenge the existing rules of poetry while his words challenged the contradictory myths and culture of the nation.

The Pulitzer is the latest honor for Brown, who previously has been named the recipient of a Whiting Writers Award, a National Endowment for the Arts Fellowship and a Guggenheim Fellowship. He was a finalist for the 2019 National Book Award for Poetry.

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