The History of OmGen

OmGen was created on February 1997. A group of African-Americans came together under the leadership of Lawrence Childress and Chester Hutchinson to form a unique investment club. Two groups OMNI (Our Members Never Individualize)" and "Genesis" were combined from a former group and became known as "OmGen".

Omgen is unique because of its goals: to do well and to do good for the community. The group not only intended to make financial investments, but to invest in themselves, their families, their communities and especially their youth. 

On February 9, 1997, OmGen elected an eight member Investment Advisory Board to manage the investment funds. In March, Omgen established an 18% goal for returns on financial investment. That same month, the "First Fruits" of approximately $30,000 were brought forward by members. With the help of the investment advisory board, OmGen?s investment portfolio has more than surpassed the original expectations. In October of 1998, the group established OmGen II for the purpose of real estate investments. Over $50,000 was received for that purpose. Those monies were invested. In 1998 the portfolio was over one-quarter million dollars. Thus, the goal of doing well was accomplished. 

In order to effectively run the investment club as a business, Articles of Organization were filed with the California Secretary of State. This established OmGen as a Limited Liability Company. Originally the group selected Merrill-Lynch as the brokerage firm, but changed to Charles Schwab. By January 1998 standing and adhoc committees were established. And by January 1998, the Agreement of Association, By-laws, Purpose, Mission Statements and Goals were adopted.

In December of 1997, a donation was made to the Emmanuel Baptist Church Development Center. In order to do good for the community local political candidates are invited to speak to members to educate them on political issues. Voluntary donations are made to campaign funds. In June of 1998 caps and gowns were purchased as gifts for the first graduating class of the Emmanuel Child Development Center. On February 28, 1999, the Outreach Committee held its first scholarship fundraiser, a dinner in honor of Black History Month. The fundraiser was given to raise money for scholarships. In April 1999, OmGen held its first Shareholder?s meeting at the Hayes Mansion with quest speaker Dr. Cecil Reeves. An Educational scholarship was awarded to a local college student.