Monica Walker’s Blueprint to Lasting Impact
Planning Powerfully
When Monica Walker was a young girl, her father passed away in a sudden accident in Galveston, Texas. He had jumped into the water to help retrieve a loose stringer of fish for someone and never resurfaced. This tragic event had a profound impact on Monica. Not only was her father no longer with her, but her mother was left to raise Monica and her brothers alone. As the only daughter, Monica was inspired by her mother’s strength—and from a young age, she was determined to build a future where she could confidently support herself.
Planting Seeds of Character
Monica was born and raised in Acres Homes, once considered the South’s largest unincorporated African American community, located approximately ten miles northwest of downtown Houston. When Monica was growing up during the 1960s in Acres Homes, land was often divided by acres, not by plots, hence the name “Acres Homes.” With the extra space, many families had small gardens or raised farm animals. Monica recalled, “Although we were not far from downtown, it wasn’t unique to see horses, cows, or chickens being raised in the area. It was ‘rurban’ in that Acres Homes was urban and within Houston city limits, but rural at the same time.”
Monica looks back on her childhood fondly, but acknowledges the importance of growing and evolving in response to her environment. Monica explained, “I went to a segregated elementary and junior high school. When I got to high school, my two younger brothers and I attended an integrated school. I think my educational experiences were points in my life that brought about different aspects of growth.”
In her early elementary years, Monica was part of the inaugural Head Start program, an educational initiative launched in 1965 to break the cycle of poverty. The program provided children from low-income families with holistic support addressing their emotional, social, health, nutritional, and educational needs. This early foundation, coupled with the influence of a devoted aunt who was an educator and guiding force in Monica’s academic journey, helped instill a deep belief that education is the gateway to opportunity. Reflecting on her upbringing, Monica shared, “My mother did not have a degree, but she often expressed the importance of a college education for my brothers and me, particularly in the era in which we grew up.”
Although Monica has lived in Chicago since she was 32 years old, she takes great pride in sharing that she was born and raised in Houston. “When I look at my life, the values that have become a part of who I am were, in many instances, developed through my upbringing.” Monica shared how her mother was a faith-filled person who instilled in Monica and her brothers the importance of faith and family.
From Humble Beginnings to High Achievements
In 1991, Monica began a money management firm in Chicago, in partnership with Lou Holland, called Holland Capital Management. The firm became one of the largest minority- and women-owned asset management firms in the country. Monica and Lou had similar upbringings, often joking about how Lou was a “farm boy” from Wisconsin and Monica a “cowgirl” from Texas.
In 2016, Lou Holland passed away, and Monica was eager to do something in his memory. She helped to establish the Lou Holland Scholarship Fund at Chicago Community Trust, the third-oldest community foundation in the United States, which provides financial assistance to minority students from Chicago pursuing degrees in areas that lead to careers in the financial services industry. This scholarship fund aims to help address the lack of diversity that has often been evident within the industry.
Monica and Lou both knew the importance of having strong financial competence. Monica shared, “Lou was an excellent example for me. He emphasized the importance of financial literacy and of positioning young kids to understand financial literacy and why it is important.” Lou helped shape Monica’s view on giving back. She shared, “Lou taught me that since education was one of the things that allowed me to have a meaningful and productive life, I should use my resources to help others accomplish the same thing.” She even acknowledged how Lou insisted on integrating educational and community support into the firm’s business model.
With Lou’s passing and her subsequent retirement, it sparked a desire in Monica to consider how she might leave a lasting impact in both Chicago—the city where she had built her firm and established her adult life—and the place that shaped her values and identity, Houston. She reflected, “It got me thinking, what happens when I am no longer here? I don’t have children of my own, and I wanted to establish a fund in Chicago and Houston that can be used to provide education and other resources to women and children.”
Crafting a Lasting Impact in Houston
In late 2020, Monica reached out to Greater Houston Community Foundation to establish the Monica Walker Equity Fund. The overall goal of this fund is to provide educational programs and other support services for women and children residing in historically Black and/or low-income communities in Houston, including but not limited to Acres Homes, Sunnyside, and Fifth Ward. Monica stated, “The goal of the Monica Walker Equity Fund is broad, but I preferred to target the funds to underserved, economically disadvantaged areas in Houston that have historically lacked access to resources and opportunities.”
Monica acknowledges that communities change, but that was one of the catalysts for why she partnered with the Community Foundation. “An organization like Greater Houston Community Foundation—with its infrastructure, deep knowledge, and resources—is best suited to execute my legacy. I trust the Community Foundation to understand my intentions and ensure what I care about is honored, even when I am no longer here. I have full confidence in its ability to take what we’ve discussed and either implement it as planned or make thoughtful decisions to adapt the funds in a way that continues to reflect my values as future needs arise.”
Planning your legacy and a lasting impact can be challenging. It forces you to think long-term, confront your mortality, and make decisions that do not play out during your lifetime. Although these conversations often do not feel urgent, having them now can lead to the most meaningful outcomes and impact. Monica noted, “People are more willing to give when it is something they believe in or something they have experienced personally. This reflection can help people understand how they can make a difference.”
Honoring Family
In 2023, Monica reached out to the Community Foundation once again to establish the Timothy and Julius Walker Education Fund, in memory of her brother, Timothy, and stepfather, Julius. Monica shared, “Timothy was the baby of our family and was great at fixing things, but never had a desire to attend a four-year college, so he went to trade school to get his HVAC certification.” After battling a terminal illness, Timothy expressed to his sister how he wanted to help others from Acres Homes or other disadvantaged areas in Houston receive their certifications outside of a four-year college.
To honor Timothy’s wishes of providing alternative pathways to viable careers, Monica shared that the Community Foundation was the perfect partner to establish a donor advised fund with this focus. “The comfort of partnering with an organization that is watching, learning, understanding, and bringing new ideas, information, and solutions is very important.” She shared that setting up both her endowed fund and donor advised fund with the Community Foundation was a smooth process. After just a few conversations with her philanthropic advisor, they were able to clearly define the purpose of each fund.
Living True to Her Values
When Monica reflects on the success she had in her adult life—faith, family, and education—all have had a significant impact on who she is today. Monica shared, “Faith and family are deeply personal, so when I think about helping others that may be facing challenges similar to those I faced growing up, or who are simply striving to build a meaningful and successful life, I strongly believe in the power of education. Whether it’s a college degree or a professional certification, education opens doors. It gives people the chance to dream bigger, go further, and create lasting change for themselves and their communities.”
Ready to begin planning your charitable legacy? Call Jennifer Touchet, Vice President of Personal and Family Philanthropy, today at 713-333-2228 or reach out directly to start a conversation.
More Helpful Articles by Greater Houston Community Foundation:
- How To Preserve Generational Wealth
- What Is the Great Wealth Transfer?
- How To Get Started with Legacy Giving
- The Power of Collective Giving
- How Charitable Giving Can Enhance Your Legacy Planning
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