Black Farmer Fund Inc

Quick Stats

• Annual Revenue: $12.4 million (2024)
• Total Assets: $26.5 million (2024)
• Grant Range: Varies by program; $25,000-$75,000+ typical
• Decision Time: 2-4 weeks for main fund; 3 months for Rapid Response
• Geographic Focus: Northeast US (CT, ME, MA, NH, RI, VT, NJ, NY, PA)

Contact Details

Website: https://blackfarmerfund.org

Email:

• General: info@blackfarmerfund.com
• Investment inquiries: invest@blackfarmerfund.com
• Rapid Response: rapidresponsefund@blackfarmerfund.com

Phone: +1 914-318-0470

Address: #38732, 228 Park Avenue South, New York, NY 10003

Overview

Founded in 2017 by farmer-activist Karen Washington and social entrepreneur Olivia Watkins, Black Farmer Fund Inc is a 501(c)(3) nonprofit community investment fund challenging discriminatory lending practices that have historically driven Black farmers off their land. With total assets of $26.5 million and annual revenue of $12.4 million (2024), the organization has grown from a $1.1 million pilot fund to a $20 million Fund 2.0 launched in 2023.

The fund has invested over $613,000 in grants and low-interest loans to Black farmers, herbalists, and food businesses across the Northeast. In 2024, co-founders Washington and Watkins received the James Beard Foundation Humanitarian of the Year Award. The organization operates with a revolutionary philosophy asking "What is the risk of not investing?" rather than traditional risk assessment models, centering relationships and shifting power to communities they serve.

Funding Priorities

Grant Programs

BFF Fund 2.0 - $20 million fund supporting ~30 Black farmers and agricultural businesses

• Combination of grants and low-interest loans (0-3% interest)
• Example: Rocky Acres Community Farm received $50,000 grant + $25,000 loan
• Application: Rolling basis via interest form

Rapid Response Fund - Emergency support for acute crises

• Over $233,000 deployed since 2022
• Quarterly cycles aligned with seasons
• Funds 2-3 acute emergencies + 1 systemic emergency per quarter
• Application: Quarterly cycles (January, April, July, October)

Community Garden Fund - Made possible by $10,000 gift from Karen Washington

• Supports community gardens in the Northeast
• Application: Via online form

Priority Areas

Supports Black-owned food and agricultural businesses demonstrating:

• Community wealth building
• Economic justice and racial equity
• Ecological wellbeing and regenerative agriculture
• Community involvement and impact
• Ancestral wisdom and traditional knowledge

What They Don't Fund

• General business expenses or recurring operational costs
• Start-up costs for new businesses (must operate 1+ year)
• Rental assistance
• Capacity building unrelated to emergencies
• Chronic issues requiring long-term support
• Businesses outside Northeast region

Governance and Leadership

Co-Founders:

• Karen Washington (Board Chair): Co-owner Rise & Root Farm, co-founder Black Urban Growers, 2024 James Beard Humanitarian. States: "We're trying to break that extractive, capitalistic system."
• Olivia Watkins (President): Forbes 30 Under 30, asks "What's the risk of not investing?"

Board includes: Rhyston Mays (farmer), Mekaelia Davis (Ballmer Group), Tori van Amson (ACE Women's Collective), Chinwe Onyekere (Vanguard), Ribka Getachew (NY Good Food), Rev. Dr. Heber Brown III (Black Church Food Security Network)

Investment Committee: 10 Black farmers, restaurateurs, herbalists, and food entrepreneurs making community-led funding decisions

Application Process & Timeline

How to Apply

Fund 2.0: Submit interest form at blackfarmerfund.org/interestform

• Staff responds within 10-14 business days
• Follow-up conversation to discuss needs
• Decision within 10-14 days after conversation

Rapid Response: Quarterly application cycles

• Submit during open periods (January, April, July, October)
• Updates by third month of cycle
• Funding distributed March, June, September, December

Decision Timeline

• Main Fund: 2-4 weeks total process
• Rapid Response: 3-month quarterly cycles

Success Rates

Specific rates not public. Funded 8 businesses in pilot; aims for ~30 through Fund 2.0. Rapid Response funds 12-16 businesses yearly.

Reapplication Policy

• Can reapply every 6 months
• Generally funded once per year
• Unsuccessful applicants provided additional resources

Application Success Factors

BFF uses a radically different evaluation approach than traditional funders:

Community-Centered Philosophy: Rejects traditional "risk assessment." Asks "What's the risk of not investing?" Imperfect financials aren't automatic disqualifications.

Values Over Financial Perfection: Prioritizes economic justice, community wealth building, ecological impact, and transparency over conventional metrics.

Accessible Applications: Forms use straightforward language without jargon or legalese to remove traditional barriers.

Investment Committee Priorities:

• Clear community involvement (95% of investees sell within 200 miles)
• 1+ year of operations
• Transparency about challenges and goals
• Commitment to continuing education with BFF
• Ecological/regenerative practices

Funded Examples: Rocky Acres Community Farm, Trinity Farm, Black Yard Farm (supplies Black chefs), Farm Fresh Caribbean Growers (culturally specific crops), 716 CBD, Rootwork Herbals

For Rapid Response: Must demonstrate acute emergency within 6 months (equipment breakdown, weather damage, crop/animal loss, medical expenses, stolen supplies) - not chronic issues.

Key Takeaways for Grant Writers

• Frame around values not metrics: Emphasize community wealth, ecological wellbeing, and economic justice over financial perfection
• Don't fear imperfect financials: Focus on transparency and narrative about community impact
• Prove community roots: Show 1+ year service, local/BIPOC suppliers, clear community benefit
• Consider Fund 2.0 for substantial capital: $25,000-$75,000+ available for expansion beyond emergency grants
• Express commitment to relationship: Show willingness for continuing education and community engagement
• Geographic eligibility is strict: Must be in CT, ME, MA, NH, RI, VT, NJ, NY, or PA
• Reapplication is normal: Reviews every 6 months; being declined once doesn't mean never

References

1. Black Farmer Fund Official Website - https://blackfarmerfund.org
2. ProPublica Nonprofit Explorer - Form 990 data (2024)
3. "Black Farmer Fund Raises $20M" - Civil Eats, May 10, 2023
4. "Reparative Investing and Due Diligence" - Yale Center for Business and the Environment
5. James Beard Foundation Humanitarian Award announcement (2024)
6. Black Farmer Fund application pages and program guidelines