Congratulations to our brothers who have been appointed to serve on the NC Black Entrepreneurship Council. The Council will help guide the Foundation in its programmatic and grant making ambitions in furtherance of North Carolina’s Black community. Council members will work closely with the Foundation to identify, recommend and support partners and programs with the expressed purpose of elevating Black Entrepreneurship in North Carolina. Service on the Council will also include input on the Foundation’s funding decisions, specifically grants awarded to partner organizations through the NC IDEA ECOSYSTEM program.
The formation of the Council coincides with a recent commitment by the board of directors that the Foundation will manage operating budgets for the next two fiscal years of at least 10% of net assets; namely, twice the minimum amount required by law. The resulting increase in programmatic spend will provide a minimum of $500,000 in funding under the auspice of the newly forming council. It is the hope of NC IDEA that other organizations, companies, and individuals may wish to likewise add funding to these activities. Learn more about NC IDEA here.