The Farwell Foundation today announced on Tuesday a $500,000 gift to the Urban League of Greater Madison in support of the Black Business Hub project.
The Farwell Foundation is a charitable organization that is run by Samantha M. Weston, and funded by the unwavering generosity of Cheryl Rosen Weston. The gift represents one of the Foundation’s largest grants ever made.
“We believe firmly in our duty to make this world, and more specifically, Madison, a better place. We do this by committing to support, love, honor, and respect all members of our community,” said Farwell Foundation Director Samantha Weston in a statement. “In particular, we place emphasis on offering our assistance to those members and segments of our community that have not been given equal access to the resources that they deserve. We are delighted to partner with the Urban League of Greater Madison in the development of the Black Business Hub, and we believe in its enormous potential to effect positive change for Madison’s Black community.”
The $26 million Black Business Hub is looking to become the Madison region’s premiere Black-led enterprise center devoted to incubating, accelerating, and networking under-served entrepreneurs. Located on Madison’s South Side, the hub will include office space, retail storefronts, pop-up vending spaces, co-working space, a shared commercial kitchen and more.
“This is a tremendous investment in the Black Business Hub’s vision, and even more importantly in the hard-working small business owners and aspiring entrepreneurs who have experienced a lifetime of under-investment, challenges accessing capital, and the lack of a culturally relevant ecosystem of support,” said Urban League CEO Dr. Ruben Anthony in a statement.
Tuesday’s gift from the Farwell Foundation puts total fundraising efforts at nearly $20.5 million raised towards the Black Business Hub’s $26 million goal.
