News Summary
The Rhode Island Black Business Association (RIBBA) has announced the addition of five new members to its board of directors, increasing total membership to 19. This expansion aims to enhance leadership and resource management as RIBBA addresses funding challenges while continuing to support over 100 low- to moderate-income clients. CEO Lisa Ranglin emphasizes the fresh perspectives the new members will bring. Despite recent hurdles, RIBBA remains committed to economic justice and building generational wealth across Rhode Island.
Rhode Island – The Rhode Island Black Business Association (RIBBA) announced on September 8 that it is expanding its board of directors by adding five new members, bringing the total board membership to 19. This strategic decision aims to enhance the organization’s ability to oversee business affairs, provide leadership, and manage resources effectively.
The newly appointed members are expected to contribute their expertise, which will help RIBBA fulfill its mission to create pathways for success for individuals, businesses, and communities across Rhode Island. The expansion of the leadership team is seen as a critical step in increasing the organization’s impact statewide, particularly as it seeks to deliver programs and services that enable families to achieve sustainability and build generational wealth.
Lisa Ranglin, the CEO and president of RIBBA, highlighted the importance of the fresh perspectives and insights that the new board members will bring to the organization. Their knowledge, energy, and passion are anticipated to bolster RIBBA’s initiatives, especially at a time when the organization is grappling with significant funding challenges. These challenges have been exacerbated by recent changes in federal policies affecting nonprofits and diversity initiatives.
Despite these hurdles, RIBBA continues to serve over 100 clients who meet the low- to moderate-income threshold. However, the organization is currently facing issues with funding from larger corporate partners, which have seen reductions in available financial packages and delays in funding decisions. As a result, RIBBA has had to reduce its workforce, laying off two employees and decreasing its staff to 11 members.
RIBBA measures its success based on its positive impact on businesses, the workforce opportunities created, and community engagement. The organization has been remarkably effective in its job training programs, boasting a 98% completion rate, where all participants reported increased wages or job responsibilities after their training.
In the previous year, RIBBA assisted its clients in securing $1.2 million in lending capital and $80,000 in grants to facilitate growth, showcasing its role in fostering economic development. Furthermore, RIBBA played a significant role in the initial statewide Minority Business Accelerator initiative, having submitted 85% of the applications for Minority Business Enterprise and Women Business Enterprise certifications.
Given the recent funding challenges, RIBBA is calling for support through volunteers and strategic partnerships to continue its advocacy for economic justice and opportunities for the communities it serves. The organization is determined to maintain its essential support for small businesses, job seekers, and families in need, despite the obstacles posed by the current financial landscape.
As RIBBA looks toward the future, the expanded board of directors is seen as a vital component in navigating these challenges and reinforcing its commitment to building an equitable economic environment for all Rhode Islanders.
Deeper Dive: News & Info About This Topic
- PBN: Rhode Island Black Business Association Expands Board of Directors
- Brown Daily Herald: RIBBA Grapples with Funding Shortfalls
- WPRI: RI Black Business Association’s Future is Uncertain
- Providence Journal: RIBBA Aims to Eliminate the Racial Wealth Gap
- Valley Breeze: Small Business Hub Opens in Woonsocket
- Wikipedia: Rhode Island
- Google Search: Rhode Island Black Business Association
- Google Scholar: Rhode Island Black Business Association
- Encyclopedia Britannica: Rhode Island
- Google News: Rhode Island Black Business Association
Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
