Here's What We're Going To Do:
We are going to change the game for Black women in business.
We are going to make sure Black women entrepreneurs are financially supported as they start and sustain their businesses.
And we’re not going to wait until she’s established and a safe bet. We’re going to invest in her when she needs us most: when she’s just starting out and working at her kitchen table.
We are going to create a co-collaborative giving model to invest in Black women who are changing the game for themselves, their families and their communities.
That’s how we -- women of all walks of life -- come together to change the game, too.
That’s our Black Women Changing The Game Business Fund.
Here's How Our Shared Project Works
THIS FUNDING MODEL itself is an unusual one. A game-changer, if you will. Inspired by SheEO and The Safety Pin Box, I wanted to find a container that made this project accessible and lean to operate so we could directly fund as many women as possible -- without me burning out in the process.
Having to be a non-profit or charity imposes red tape and administrative burdens, as well as a significant up-front investment, and that detracts from the focus of this fund. So I’m getting inventive and setting it up as a project within an existing business - kind of like a philanthropy LLC if you will - the same way Dr. Priscilla Chang and Mark Zuckerberg set up the Chang Zuckerberg Initiative.
That’s the container our fund will sit in. Here’s how we’ll generate and disperse the fund:
100 women will contribute $300 each ($25 per month; $25,000 contributed to the fund, $5,000 for program maintenance and to cover fees) so that we create a fund of $30,000.
We’ll then accept 25 applicants for funding. We’ll then shortlist that to 15 potential applicants. Once we’ve finalized that list, those 15 applicants will read each other’s applications and they will decide amongst themselves which 10 women will receive the awards.
We’ll then distribute 10 gifts of $2,500 to Black women entrepreneurs who will invest it in her business to help it grow.
This Is Different Because It Has To Be
We have to change the way we invest in each other. We have to change the way we find value in one another...even in business. Most of the time if you apply for any type of funding for your business, it is a top-down decision. Meaning, a third party looks at your application (usually a white man) and decides if you and your business are worthy of receiving money.
That's not how this fund operates.
Instead, fund recipients will be decided by the women contributing to the fund and the women applying to be recipients of the fund. Profound trust and collective responsibility is the hallmark of this project.
How this looks:
25 applications for potential funding will be accepted
The 25 applicants will then be shortlisted to a final 15 top applicants by the women contributing to the fund.
The final 15 top applicants, as decided by the contributors, will then make the final decision as to who will be receiving the 10 gifts of $2500 to invest in their businesses.
Beginning January 2019: Contributors begin making contributions.
February 2019: Contributors community call (optional but recommended)
October 2019: Top 15 businesses selected by contributors.
November 2019: Top 15 finalists notified and second round of votes takes place.
Early December 2019: Gift recipients notified, money distributed.
Ready To Join Us?
Monthly contribution options are closed - thank you to those who have decided to come on this journey with me. While it is too late to sign up as a monthly contributor for 2019 and participate in the community selection of the award recipients, you can still make a one-time contribution below..
A Little FAQ
What Happens Once I Apply To Contribute?
Contributors: we’re going to join together, get to know each other and our motivations and meet for a community call. This call isn’t mandatory but it is recommended. This project and your contribution isn’t about donating from a distance. It’s about assembling a community of care, including of each other.
Is My Contribution Tax Deductible?
Your contributions are not tax deductible. You are consciously giving your financial resources without needing something in return. Your contributions will directly support a Black woman and her business. Your money will go into the fund and then be distributed at the end of the year when the ten recipients are selected.
Is This A Non-Profit Or A Charity?
Can Men Contribute?
Can Non-Women of Color Contribute?
Of course! This is a fund in celebration and in radical support of Black women. If you believe in what this fund is really all about and can commit to being present through the selection process, I would love to have you.