The Black Community Investment Fund was created to make direct investments to support local Black-owned businesses and organizations in Albuquerque. In 2021 a steering committee, comprised of business and civic leaders from Albuquerque’s Black community led a process to design a framework, criteria, and objectives to direct the first phase of funding distribution. Applications were made available to Black-owned businesses and nonprofits serving Black communities. Businesses could apply for funding for necessary expenses including rent, mortgage payments, utilities, equipment lease payments, and payroll. Nonprofit organizations could qualify for funding to support services rendered as vital to Albuquerque’s Black community. Based on the steering committee’s recommendations, the One Albuquerque Fund awarded $300,000 among 12 Black-owned businesses and nonprofits that serve the Black community. This disbursement was Phase I of $1M in total grant funding from the Black Community Investment Fund; Phase II funding distribution is anticipated for the year 2023, following fundraising efforts in 2022.
Business and nonprofits selected to receive funding in Phase I included:
- High Desert Community Arts
- Kamaria Creations
- Kutz of a Dream Barbershop
- Morning Star Missionary Church
- Nexus Brewery
- Rude Boys Cookies
- Triay Arts
- Umoja Behavioral Health PC (UBH)
- Utopia Dental Care
- Versatile Solutions Group, LLC
- AA Greater Albuquerque Chamber
- Community Mentorship Networking