Foundation of Little Village (The Foundation), a nonprofit with the mission of being a catalyst for the creation of wealth, cultural preservation, and corridor revitalization of Chicago's Little Village community, announces the release of its 2022 Annual Report. Further information about the report, including personal stories of businesses benefitting from The Foundation's efforts, is on this link.
CHICAGO, Sept. 5, 2023 /PRNewswire-PRWeb/ -- Foundation of Little Village (The Foundation), a nonprofit with the mission of being a catalyst for the creation of wealth, cultural preservation, and corridor revitalization of Chicago's Little Village community, announces the release of its 2022 Annual Report. Further information about the report, including personal stories of businesses benefitting from The Foundation's efforts, is on this link.
"Our journey is fueled by the power of collaboration and a shared vision for economic equality," said Daniel Arce, the board president. "By uniting the Little Village community, entrepreneurs, local leaders, and partners, we are forging a path towards prosperity and advancement for our cherished residents."
The Xquina Business Ecosystem is central to The Foundation's transformative efforts. It supports current and emerging entrepreneurs with culturally tailored business programs, technical assistance, workforce training, and capital access. The Ecosystem includes programs like Juntos Lanzamos, Emprendemos, and Avanzamos, covering business planning, marketing, strategy, and financial topics, and offering grants to qualified participants to boost their capital investments.
In 2022, the Xquina Incubator and Café, an important element of the Business Ecosystem, completed all pre-development activities, environment remediation, and the removal of debris and demolition. Phase one of Xquina will be completed in the spring of 2024, servicing the creation of more than 40 new businesses, 15 business partnerships, and 2,500 community engagement hours.
Through the extended efforts of revitalizing Manuel Pérez, Jr. Memorial Plaza, The Foundation has created a new hub for community organizing and cultural events. Some events include El Mercado de Colores Farmer's Market which operates every Saturday from June to October; it provides customers with organic produce, crafts, and traditionally prepared delicacies. The plaza also hosted a ribbon-cutting ceremony to celebrate new bench installations, signage to promote local events,
and honor Manuel Pérez, Jr's life.
The report concludes with highlights of The Foundation's 2023-2025 Strategic Plan which features important objectives like mobilizing The Foundation to create the Capital & Micro-Grant Fund and establishing a Database Initiative focusing on measuring economic impact.
For more information about The Foundation of Little Village, visit https://flvchicago.org/.
About Foundation of Little Village
The Foundation of Little Village was founded in August 2018 with a mission to create a socioeconomic impact system for entrepreneurs of color. In this time, the Foundation of Little Village has supported more than 250 local small businesses with culturally relevant educational programming, professional services, workforce training, access to capital, and technical assistance to bridge the digital divide between youth and local businesses. In pursuit of these goals, the Foundation equips local entrepreneurs with access to bilingual, professional programming designed to support and encourage economic growth, educational opportunities, and vibrant wealth creation to more effectively propel the Little Village community forward.
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SOURCE JJR Marketing
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