"All of our problems have not been solved -- we still have challenges to face -- but this [inauguration] has certainly made a big dent," she said. "This is the 'beloved community' that my brother spoke of.
"I think this inauguration means that minorities can now be respected for who they are, and not have to take a backseat because of the color of their skin or their origins, or what have you," she continued.
Poet and author Maya Angelou, whose health kept her from traveling to the inauguration, also agrees that Obama's election signals that our country is maturing.
"We are growing up beyond the idiocies of racism and sexism. It takes a long time. But we are growing up," she said.
Angelou said she will watch the inaugural events from her home in Winston-Salem, N.C.
"I will be following every step, every nuance, every shade and shadow of the inauguration," Angelou said.
Andrew Young, a civil rights activist and former mayor of Atlanta, traveled to Washington, D.C., for the inauguration with his wife and daughters and grandchildren.
"I'm going, hoping and praying that it's true when Obama says, 'Yes, we can,'" said Young, who, as editor in chief for the online magazine Root will also host a star-studded gala this evening.
Despite attending several inaugurations in his lifetime -- Young was in Howard University's ROTC as a 16-year-old during Harry Truman's inaugural in 1949, which he remembers as the day he "almost froze to death" -- he is certain that today's will be different.
"I went to Nixon's second inauguration. I was at Jimmy Carter's inaugural and one of Clinton's," said Young. "But this one is so special."
"It's special largely because it's more like the inaugural of Franklin Roosevelt, because everything is in such disarray and there's such a demand for visionary leadership," Young said.
Young said that when he marched in Truman's inauguration, Washington, D.C., was still segregated. That segregation, recalled Young, may have contributed to the death of a fellow classmate, an event that, to this day, reminds him just how much the country has changed.
"One of my classmates was killed -- hit by an automobile outside the Smithsonian -- and had to be driven across town to a black hospital," said Young. "I have to believe that he would have lived if he'd gotten to a hospital faster.
"I'm consciously aware of how much we've changed and how much the American people have grown," he said.
"This is not the same nation -- thank God -- that I grew up in."
For those unable to travel to the capital today, inauguration festivities within the black community are occurring all over the country.
At Morehouse College in Atlanta, the only all-male historically black college in the nation, students can view the ceremony together and may also attend a ball of their own later this evening.
Similarly, Obama's alma mater, Columbia University in New York City, is also hosting an outdoor viewing of the event.
And for those who want to follow the festivities from the comfort of their own home, Black Entertainment Television will broadcast ongoing coverage of the inauguration for the first time.
ABC News' Jennifer Parker contributed to this report.