“In a parity scenario, Black-owned businesses would generate $1.6 trillion more than they do today. This has two components. First, if the Black share of business ownership matched the Black share of the population, 615,000 more enterprises would exist, potentially generating $1 trillion in revenue, assuming current relative levels.
Second, if Black-owned firms matched the average scale of their industry peers, they would add another $600 billion in revenue.”
- McKinsey and Company report: The economic state of Black America: What is and what could be
What is a community foundation?
A community foundation is a grantmaking public charity that dedicates its resources to improving the lives of people in a defined local geographic area. They bring together the financial resources of individuals, families, and businesses to support effective nonprofits in their communities.
The AYA Foundation will:
Invest the gifts for growth and income
Make grants that meet the needs of the community
Provide business incubation and acceleration programming and services
Offer expertise in leadership and philanthropic development
Provide administrative support and fiscal sponsorship to developing not-for-profit entities
Support and advise donor funds