Something like it exists. See: Miss Black USA
OK. You didn't ask me about that so... describe, specifically, the thing you are asking me about, the thing you made up and want me to assume to know how you think it works.
1. Legal and moral.
2. What I'm asking about is a 501(c)3 corporation.
3. In the case of my question, yes, only "white" people could win the pageant.
Specifically describe the organization you are asking about and it's practices.
Without changing the question asked, make assumptions you feel necessary in order to answer what's been asked. If you need more clarification please feel free to inquire.
If your view did not matter to me I'd not ask it.
As I said, I won't make assumptions about your question. Describe to be the organization you are asking about. I absolutely will ask for clarification if needed and answer fully.