Black Girl Ventures Foundation

Overview

The Black Girl Ventures Foundation is a U.S.-based nonprofit organization dedicated to providing Black and Brown woman-identifying entrepreneurs with access to community, capital, and capacity building, thereby supporting economic advancement through entrepreneurship[1][3]. Founded in 2016 by serial entrepreneur Shelly Bell, the organization aims to address the specific challenges faced by these underrepresented founders, including limited access to capital, networks, and capacity to grow their businesses[1][3].

Mission and Activities

The foundation's mission is rooted in creating a society where Black and Brown women entrepreneurs have equitable access to social and financial capital to grow their businesses. It achieves this through several programs, notably the BGV Pitch Competition, which combines crowdfunding with pitching, reminiscent of platforms like Kickstarter and Shark Tank[1]. Participants in the BGV Pitch also engage in the JetPack Curriculum, a six-week program designed to enhance revenue growth strategies and hiring capabilities. Additionally, they receive six months of corporate mentoring and access to the BGV Supplier Diversity Program[1].

Impact

Black Girl Ventures has helped founders raise over $600,000 through crowdfunding since its inception[1]. It has supported more than 18,000 underrepresented women founders through its networks and has held over 50 pitch competitions, funding numerous ventures[5]. By focusing on these high-impact programs, the foundation contributes significantly to improving economic well-being and creating jobs across communities[5].

Structure and Operations

As a 501(c)3 organization categorized under community improvement and capacity building, the foundation's donations are tax-deductible[2]. Its revenue primarily comes from contributions, highlighting its reliance on philanthropic support to execute its mission[2].

Leadership and History

Shelly Bell, a serial entrepreneur and the founder, initially launched Black Girl Ventures with a simple yet impactful meetup model that quickly gained traction. Today, the organization is recognized for its innovative approach to addressing systemic barriers in entrepreneurship, leveraging partnerships with prominent organizations to amplify its reach and impact[3][4].

Current Programs and Expansion

Beyond pitch competitions, Black Girl Ventures is establishing Venture Boards in cities like Birmingham, Houston, and Philadelphia, aiming to create local access to capital, connections, and resources for Black and Brown women entrepreneurs[3]. These initiatives underscore the foundation's commitment to fostering sustainable entrepreneurial ecosystems.

Financials and Governance

Black Girl Ventures Foundation manages its finances under strict nonprofit governance, ensuring transparency through annual Form 990 filings with the IRS[2]. While detailed financials are available through these filings, the organization's reliance on donations underscores its commitment to leveraging community support for its operations[2].