Wacif announced Thursday $3 million in funding to redevelop the Anacostia Arts Center as the region’s largest hub for inclusive entrepreneurship, advancing the $37 million project into the final mile of philanthropic fundraising.
D.C. Del. Eleanor Holmes Norton (D) selected Wacif and the AAC for Community Project Funding, which received congressional approval in late December.
“By 2030, Wacif will invest $100 million in our communities and reach 5,000 underserved entrepreneurs with advisory services, ultimately helping those entrepreneurs create and retain 100,000 local jobs,” said Wacif interim CEO Brendon Miller. “A central part of that vision is reimagining the Anacostia Arts Center as a hub for inclusive entrepreneurship while honoring its importance to the community and creative economy. As we close this final mile of fundraising, we are grateful for Congresswoman Holmes Norton’s partnership, the support of all of our project partners, and the momentum they provide.”
Wacif is seeking strategic partners for the final philanthropic dollars needed to close fundraising and move to prepare for the construction phase of the project. Current financial partners include the A. James and Alice B. Clark Foundation, Bank of America, the D.C. Commission on the Arts and Humanities, the D.C. Deputy Mayor for Planning and Economic Development, JPMorgan Chase, the Meyer Foundation, the Surda Foundation and Truist, and the Yelp! Foundation.
Locally, Wacif has deployed more than $50 million and helped local entrepreneurs create or retain more than 20,000 local jobs in the past five years.