Funds celebrate RIBBA’s 10 year anniversary and mark a greater investment in supporting organizations that promote racial equity
Providence, RI March 31, 2021. The Rhode Island Black Business Association (RIBBA), a 10 year-old non-profit organization dedicated to advancing the business opportunities and vitality of Black-owned businesses in RI, is pleased to announce a charitable contribution in the amount of $50,000 from Partnership for Rhode Island. This commitment follows Partnership for Rhode Island’s commitment to increasing racial equity and opportunity in the state and will be used to increase RIBBA’s overall program and service delivery capacity.
RIBBA has worked over the last 10 years to create a more equitable business environment in Rhode Island through access to capital, contracting, business development resources, entrepreneur training, advocacy, meaningful investor services, and workforce development. COVID-19 eliminated 41% of Black-owned businesses nationwide (Federal Reserve Bank of New York; August 2020). This loss has demonstrated an urgent need for investment in Black businesses.
The Partnership for RI funding follows a $50,000 donation from the Rhode Island Foundation, a member of the Partnership for RI, in December of 2020. This greater investment in RIBBA comes on the heels of a national reckoning that structural racism exists and holds back many Black and brown communities from achieving access to opportunity and economic prosperity.
“This generous donation from Partnership for Rhode Island signifies a confidence in RIBBA’s historic and groundbreaking work over the last 10 years,” said Lisa Ranglin – Executive Director of RIBBA. “COVID-19 has been completely devastating for Black and brown communities and the time to act is now. This investment provides us with the ability to grow and have greater impact in the communities we serve through programs and services that scale businesses, create jobs, advance careers, and improve over-all economic health. We thank the Partnership for Rhode Island for their support!”
“We are excited by the growth and mission of RIBBA and hope that our support, and their continued impact statewide, will encourage others to recommit to a more equitable and sustainable business environment in Rhode Island,” said Tom Giordano – Executive Director of The Partnership for Rhode Island.
About RIBBA The Rhode Island Black Business Association (RIBBA) is a non-profit organization dedicated to advancing business opportunities and vitality of Black-owned and minority businesses in Rhode Island through access to capital, contracting, business development resources, entrepreneur training, business advocacy, meaningful investor services, and workforce development.
Our vision is to create a more equitable and sustainable business environment in Rhode Island. Our purpose is to leverage the region’s core assets to find solutions in the areas that matter most to the business and community: quality jobs, quality growth, and quality of life for all.
About Partnership for Rhode Island
The Partnership for Rhode Island is a non-profit, 501c4 organization focused on making Rhode Island a better place to live, work, learn and do business. Led by Tom Giordano, the Partnership has, the four years since its founding, has investment millions in public-private partnerships, hired tens of thousands of Rhode Islanders and has scaled programs in K-12, workforce development, energy infrastructure and business attraction. Founded at the urging of former Governor Raimondo, this active group has tackled some of the largest issues facing our state such as the turnaround of Providence Public School District, Covid-19 related unemployment to clean energy goals.