FAQ's
Who is your fiscal sponsor?
I am not Black. How can I participate?
How does the Tacoma Black Fund Program work again?
Can we have more than 100 people?
What are the two programs again?
What can entrepreneurs win at the Annual Event for Entrepreneurs?
Why does the Tacoma Black Fund say “membership,” but when I click the membership button, the Greater Tacoma Community Foundation (GTCF) site says “donation”?
To clarify:
We deeply value your support and are working toward a more seamless process in the future!
Why did I need to become a Tacoma Black Fund (TBF) member to receive the TBF Loan Readiness CRP Grant?
Membership is part of that vision. It ensures that decisions about where the money goes are made by Black people in our community through a democratic, community-led process. That’s why membership is required to access the fund. If you are a member, we strongly encourage you to come out to a TBF event, hear from our fellow Tacoma Black business owners, nonprofits, and visionaries, and vote.
Similarly, joining the Black Business Directory, Doing it Does It, is about keeping the Black dollar in circulation in Tacoma, so that when we support each other’s businesses and initiatives, we’re not just surviving, we’re building lasting wealth, visibility, and independence.
This isn’t just a grant, it’s a movement.
Why does my business or project need to have a community benefit to receive Tacoma Black Fund support?
Per IRS guidelines, charitable funds can only be granted to for-profit businesses if there is a clear community benefit or charitable intent. That means your business can absolutely thrive and grow, but it must also show how it gives back, whether through jobs, access, education, mentorship, or another form of community impact.
This isn’t just a legal requirement, it’s a reflection of our values.
At TBF, our values are joy, liberation, courage, significance, and community. It’s absolutely okay to care about your own success, in fact, we encourage it. But we’re building something bigger than any one of us. This is a collective movement, designed to keep the Black dollar circulating and to build power together, not alone.
When you receive support from TBF, you’re not just getting a grant , you’re becoming part of a shared vision: one where we all rise.
Is the CEO of the Tacoma Black Fund compensated?
TBF is rooted in values of significance, community, and liberation, and that includes modeling shared leadership, transparency, and resource stewardship.
Given that TBF has distributed approximately $1.6 million since Jan 2024, we recognize that the scope and impact of this work is substantial. We anticipate that in the near future, the CEO will be compensated for this transformative, courageous, and liberating leadership so that the work can remain sustainable and continue to grow.
Who is the CEO of the Tacoma Black Fund (TBF)?
As part of our continued efforts to build a strong, accountable structure, previous leadership was transitioned out to ensure that the Fund is guided by individuals who can execute with clarity, follow-through, and operational excellence. Desireé Wilkins Finch now continues as CEO for the foreseeable future, providing stable, values-driven leadership during this next phase of growth.
The Tacoma Black Fund remains rooted in the values of integrity, clarity, community, and joyful liberation. This leadership transition reflects our commitment to those principles and to building an institution that is sustainable, trustworthy, and transformative for generations to come.
Why was the TBF Loan Readiness Program award given as a grant through GTCF?
While the original intention was to offer forgivable loans, GTCF, as a nonprofit organization, is not legally allowed to administer loans. To comply with legal requirements, and still honor the community-centered intent of the CRP, the funds were converted into grants.
TUL was deeply committed to making sure Black business owners and visionaries benefited directly from this opportunity. In partnership with GTCF, Business Impact Northwest (BINW), and the TBF Loan Readiness Oversight Committee, we successfully distributed $1.5 million to Black-led businesses, organizations, and projects, keeping resources where they belong: in our community.
What was the process for choosing awardees for the TBF Loan Readiness Grant?
They developed a detailed scoring rubric rooted in Black community values, assessing business readiness, mission alignment, and community impact.
Applications were reviewed by a committee of leaders (TBF Loan Readiness Committee), including business owners and nonprofit professionals from Tacoma, who applied and interviewed for their role, and were trained to score consistently and equitably. Every application was reviewed by at least 5 out of 7 reviewers to reduce bias and ensure integrity.
This process was so strong and community-driven that it was highlighted by the Washington State Department of Commerce project manager as a leading example of community-led investment thoughtfulness, regarding conflict of interest, non-disclosure and confidentiality.
We created a model for how to invest in Black brilliance with transparency, structure, and deep care.
- Greater Tacoma Community Foundation (GTCF) manages and distributes the funding. After each vote, the winner will receive funds from GTCF.
I am not Black. How can I participate?
- You can sponsor a vote for $100 per quarter or $400 for the year, you can present an idea or program that directly benefits the Black community in Tacoma, you can donate to the Annual Event for Entrepreneurs, and you can come out and enjoy great food, music, and people.
How does the Tacoma Black Fund Program work again?
- 100 people give $100 four times a year, and we can fund our own programs, projects, and ideas and give $40,000 per year ($10,000 per event)!!!
Can we have more than 100 people?
- Absolutely! The more people, the further the reach.
What are the two programs again?
- The Tacoma Black Fund is our flagship program
- The Annual Event for Entrepreneurs
What can entrepreneurs win at the Annual Event for Entrepreneurs?
- Our annual event for entrepreneurs is our February gala. Each year we use this celebration to award $10,000 to an entrepreneur in our community.
Why does the Tacoma Black Fund say “membership,” but when I click the membership button, the Greater Tacoma Community Foundation (GTCF) site says “donation”?
- Great question! When you click the link to join the Tacoma Black Fund as a member, you are redirected to a donation portal hosted by GTCF. While GTCF’s system doesn’t currently distinguish between “donation” and “membership,” rest assured that your contribution is counted as a membership when it meets the required amount. Unfortunately, we can’t make that change on GTCF’s portal.
To clarify:
- Membership is $100 per quarter or $400 per year.
- Membership grants you voting rights in the fund’s decision-making process, which is a critical part of our commitment to collective power and community-driven investment.
- Voting membership is exclusively reserved for individuals who identify as Black.
We deeply value your support and are working toward a more seamless process in the future!
Why did I need to become a Tacoma Black Fund (TBF) member to receive the TBF Loan Readiness CRP Grant?
- The Tacoma Black Fund operates on a 100 x 100 model, we raise money for us, by us, and give it directly to Black visionaries, business owners, and nonprofits that serve and uplift Black communities directly in Tacoma. Every dollar invested in TBF is meant to circulate within our community as long as possible, this is how we build true economic power. THIS IS SO THE MONEY CIRCULATES IN OUR COMMUNITY LONGER!!!
Membership is part of that vision. It ensures that decisions about where the money goes are made by Black people in our community through a democratic, community-led process. That’s why membership is required to access the fund. If you are a member, we strongly encourage you to come out to a TBF event, hear from our fellow Tacoma Black business owners, nonprofits, and visionaries, and vote.
Similarly, joining the Black Business Directory, Doing it Does It, is about keeping the Black dollar in circulation in Tacoma, so that when we support each other’s businesses and initiatives, we’re not just surviving, we’re building lasting wealth, visibility, and independence.
This isn’t just a grant, it’s a movement.
Why does my business or project need to have a community benefit to receive Tacoma Black Fund support?
- Great question, and it gets to the heart of what makes the Tacoma Black Fund (TBF) different.
Per IRS guidelines, charitable funds can only be granted to for-profit businesses if there is a clear community benefit or charitable intent. That means your business can absolutely thrive and grow, but it must also show how it gives back, whether through jobs, access, education, mentorship, or another form of community impact.
This isn’t just a legal requirement, it’s a reflection of our values.
At TBF, our values are joy, liberation, courage, significance, and community. It’s absolutely okay to care about your own success, in fact, we encourage it. But we’re building something bigger than any one of us. This is a collective movement, designed to keep the Black dollar circulating and to build power together, not alone.
When you receive support from TBF, you’re not just getting a grant , you’re becoming part of a shared vision: one where we all rise.
Is the CEO of the Tacoma Black Fund compensated?
- The Tacoma Black Fund is a community-led, volunteer-powered initiative, and the CEO IS NOT CURRENTLY compensated for their role. This ensures that the maximum amount of funding flows directly to Black businesses, nonprofits, and community-based efforts. Although CEOs hired during the CRP contract cycle were paid for their roles Desireé has never received compensation for leading the Tacoma Black Fund in order to maximize Community impact.
TBF is rooted in values of significance, community, and liberation, and that includes modeling shared leadership, transparency, and resource stewardship.
Given that TBF has distributed approximately $1.6 million since Jan 2024, we recognize that the scope and impact of this work is substantial. We anticipate that in the near future, the CEO will be compensated for this transformative, courageous, and liberating leadership so that the work can remain sustainable and continue to grow.
Who is the CEO of the Tacoma Black Fund (TBF)?
- Tacoma Black Fund has recently undergone personnel changes to strengthen the foundation and long-term sustainability of the organization. Earlier this year, during the Community Reinvestment Project (CRP) process, Desireé Wilkins Finch temporarily stepped back from formal leadership to uphold the highest standards of integrity, transparency, and trust as public dollars were being administered. This decision was rooted in a deep commitment to ensuring that every aspect of the Fund’s work reflects the values our community deserves; oversight, collaboration, and accountability!
As part of our continued efforts to build a strong, accountable structure, previous leadership was transitioned out to ensure that the Fund is guided by individuals who can execute with clarity, follow-through, and operational excellence. Desireé Wilkins Finch now continues as CEO for the foreseeable future, providing stable, values-driven leadership during this next phase of growth.
The Tacoma Black Fund remains rooted in the values of integrity, clarity, community, and joyful liberation. This leadership transition reflects our commitment to those principles and to building an institution that is sustainable, trustworthy, and transformative for generations to come.
Why was the TBF Loan Readiness Program award given as a grant through GTCF?
- The Tacoma Urban League (TUL) entered into a contract with the Washington State Department of Commerce as part of the Community Reinvestment Project (CRP). Under this agreement, TUL made a loan to the Greater Tacoma Community Foundation (GTCF) to manage the distribution of funds to Black-owned businesses and nonprofits through the Tacoma Black Fund (this was done with ZERO cost or penalties to GTCF).
While the original intention was to offer forgivable loans, GTCF, as a nonprofit organization, is not legally allowed to administer loans. To comply with legal requirements, and still honor the community-centered intent of the CRP, the funds were converted into grants.
TUL was deeply committed to making sure Black business owners and visionaries benefited directly from this opportunity. In partnership with GTCF, Business Impact Northwest (BINW), and the TBF Loan Readiness Oversight Committee, we successfully distributed $1.5 million to Black-led businesses, organizations, and projects, keeping resources where they belong: in our community.
What was the process for choosing awardees for the TBF Loan Readiness Grant?
- Our selection process was thoughtful, transparent, community-centered, and grounded in integrity. To ensure fairness and eliminate any conflict of interest, we created a clear firewall between the Tacoma Urban League (TUL) and the Tacoma Black Fund (TBF). While TUL secured the funds for GTCF, through a state contract with the Department of Commerce, the review and decision-making process was led independently by TBF under the former leadership of Tasha West-Baker and the TBF Loan Readiness Committee.
They developed a detailed scoring rubric rooted in Black community values, assessing business readiness, mission alignment, and community impact.
Applications were reviewed by a committee of leaders (TBF Loan Readiness Committee), including business owners and nonprofit professionals from Tacoma, who applied and interviewed for their role, and were trained to score consistently and equitably. Every application was reviewed by at least 5 out of 7 reviewers to reduce bias and ensure integrity.
This process was so strong and community-driven that it was highlighted by the Washington State Department of Commerce project manager as a leading example of community-led investment thoughtfulness, regarding conflict of interest, non-disclosure and confidentiality.
We created a model for how to invest in Black brilliance with transparency, structure, and deep care.
