In 1887, ex-slaves began petitioning the federal government for pensions and compensation for the years they had labored without wages before abolition. When Congress ignored their thousands of petitions, they tried to sue for wage theft but were told they could not. At the very least, all African Americans should be eligible for reparations. Monies could come from corporations, from banks and insurance companies.
Reparations for unpaid labor are restitution, payment for damages to make whole for harm done. No restrictions should be made on how the money is spent. If their ancestors had received wages for their labor they too would have bought what they wanted, invested it as they desired, or given it to churches or schools or charities.
One million dollars for each African American should be a good place to start. Each African American identified as African American during the last Census should be the recipients.