Black Funding Network’s (BFN) launch crowdfunding event beat its target to raise £9,000 each for three charities, along with £3,000 in matched funding for each one.
Inspired by the crowdfunding model of The Funding Network, which has raised over £14 million since 2002, Black Funding Network (BFN) is a membership organisation that aims to help galvanise Black giving to support Britain’s Black communities, and provide Black-led non-profit organisations in the UK with access to a community of donors who want to be intentional in their giving. It brings individuals and institutions together to provide live crowdfunding opportunities.
Its first live, online event took place last night, hosted by The Funding Network, with three organisations – Sister System, With Insight and Elevated Minds presenting how they create positive change for the communities they serve. This was followed by a live 90-minute crowdfunding session, which aimed to raise £6,000 for each organisation but in fact raised £9,000, with £3,000 in matched giving for each from Ennismore Foundation.
BFN has been established by four Black female business leaders: Patricia Hamzahee (Founder of Integriti Capital), Yvette Griffith (Co-CEO, Jazz re:freshed), Erika Brodnock (Co-Founder and Research Director, Extend Ventures) and Angela Ferreira (Managing Director, Douglas Road Productions).
The launch comes in response to recent surveys that found 9 out of 10 Black and Ethnic-led community organisations are chronically under-funded and many are likely to close due to the Covid-19 pandemic. Black Funding Network will support racial justice, social mobility, alleviation of economic hardship, education and youth services, health and wellbeing, community development, arts and cultural advancement, history and heritage, and social enterprise.
Co-Founder of Black Funding Network, Patricia Hamzahee said:
“As we confront calls for racial justice in the aftermath of the killing of George Floyd in the US and the disproportionate impact of Covid-19 on the Black community here in the UK, philanthropists are being asked to support catalytic change before the headlines fade and attention moves on. We hope to leverage the collective resources of Britain’s Black communities and our allies to create the change we all want to see.”
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