Dear friends and supporters,
This has been a year like no other. COVID-19 and widespread social unrest shone a bright light on the inequities of our systems, and we all struggled to adapt. At ICA, we looked for the urgent gaps and did our best to fill them. And while the work remains, thanks to our dedicated donors, we responded to the needs of our community to support their resilience.
We did this by deploying over $1.2 million in emergency capital to 25 companies, through our Rapid Response Liquidity Fund – 88% owned by women or people of color and employing 247 workers. We also helped 24 companies focus on rebuilding and re-balancing in the face of the continuing economic disruption through the pilot of our Resilience Accelerator.
But even as we provided capital and coaching to help our companies weather the storm, we have been building toward a brighter future.
- We expanded our team by welcoming a new Chief Investment Officer and Chief Program Officer.
- We launched a new $10 million fund to invest in underestimated entrepreneurs so they can create wealth for themselves and their employees.
- We expanded our pro bono advising network by adding 12 new experts who provided 1:1 coaching, facilitated workshops, led virtual office hours, and helped us create new and relevant educational content.
We are all ready to see the end of 2020, but ICA is excited for what we can achieve together in 2021. With an expanded team and new financial products and programs, we will support dozens of dynamic small businesses that employ hundreds of local workers.
But we need your support.
As a member of our vibrant community, you know how important local small businesses are for creating jobs and wealth-building opportunities. But you also know the obstacles that entrepreneurs of color and women face. And you can make the difference.
Your gift helps ICA accelerate great small businesses through mentorship and investments to close the racial and gender wealth gaps. In these turbulent times, thank you for making a donation to ICA to help us build an economy that works for everyone.