Morning Consult is partnering with the Washington Area Community Investment Fund (Wacif) to raise $1 million for their Small Business Resilience Fund.
Though many peaceful protests have taken place this past week in the region, some areas are still experiencing riots and looting activities. Morning Consult has launched the fund to help local small businesses in underserved neighborhoods rebuild and repair from any damages caused during this time.
Founded in 2014, Morning Consult is a data intelligence company based in downtown D.C. The company decided to launch this fund after its own office at 729 15th St. NW was damaged on Sunday night. Though nothing was stolen and no one was hurt, the glass at the building’s entryway and the front of Morning Consult’s office was shattered, Washingtonian reports.
Wacif is a nonprofit community loan fund that connects business owners with capital.
“Morning Consult was founded in a row house in Washington. It’s a community that has lifted us up, helped us grow, and supported us along the way,” Morning Consult cofounder and CEO Michael Ramlet shared in an email. “We all have a role to play as individuals and as an organization in addressing social and economic inequality.”
Morning Consult has already contributed $30,000 to start the fund, which was the same amount of funding the company launched with six years ago. Aside from Morning Consult’s contribution, the fund has already raised more than $20,000 in additional funding. The pair is collecting donations for the fund via GoFundMe.
The launch of this fund comes after Morning Consult announced the close of a $31 million Series A last month.
Knowledge is power!
Subscribe for free today and stay up to date with news and tips you need to grow your career and connect with our vibrant tech community.