The Washington Area Community Investment Fund (Wacif) received a $3.6 million grant from the Greater Washington Community Foundation Health Equity Fund to launch its Sustainable DC Project in partnership with Coalition for Nonprofit Housing & Economic Development (CNHED).
The award marks Wacif’s largest grant to date. The three-year funding will enable Wacif to spearhead initiatives aimed at unleashing the power of the green economy for communities of color in the District.
Sustainable DC Project is an innovative and disruptive economic mobility strategy designed to help BIPOC and women-owned small businesses grow and build resilience by implementing sustainable practices.
“It’s not enough to invest in green energy,” said Shannan Herbert, CEO of Wacif. “We need to ensure that small businesses – especially those owned by women and communities of color – are set up for success, by providing them the resources, the knowledge, and the opportunities they need to thrive.”
Through the Sustainable DC Project, Wacif and CNHED will advise small businesses on capacity building, support green certification and procurement, and provide access to capital including Wards 5, 7 and 8. The range of services includes: one-on-one and group advisory services, small business cohort learning, green certification and procurement support and helping small concerns have access to capital.
Wacif and CNHED’s partnership leverages decades of experience driving economic mobility and improving social and structural determinants of health around poverty, housing, and built environments – this project wields the strength of both organizations to increase wealth and health equity and support sustainable outcomes in DC’s underinvested communities.
“We see a vibrant future in growing small businesses while ensuring environmental sustainability,” said Wacif Chief Development Officer Megan Carras. “Wacif will continue to seek opportunities to assist green entrepreneurs with reducing greenhouse gas emissions, building climate resilience and growing a green economy by offering readiness programming and capital assistance.”