Also on Tuesday, Sherman Phoenix officially announced the launch of its new nonprofit arm: the Sherman Phoenix Foundation. The effort, which aims to "collaborate with leaders working to build inclusive and just economies for communities of color," has been in the works since the 2020 social justice uprising in response to the killing of George Floyd.
Previously known as the Sherman Phoenix RISE Alliance, the foundation is fueled by Madison-based American Family Insurance’s pledged investment of $300,000 -- $100,000 per year over three years.
The nonprofit organization will lead all programming at the Sherman Phoenix that brings cultural and economic vibrancy to the hub, including technical assistance for its small business tenants, wellness programming, educational offerings and arts and cultural events."American Family Insurance is committed to being an advocate and supporting partner of the Sherman Phoenix - investing in its STEAM and entrepreneurial initiatives within the community as we progress towards confronting and ameliorating equity and wealth gaps," said Ranell Washington, community and social impact advisor, American Family Insurance. "This multi-year partnership allows the Phoenix to continue advancing learning, mentoring and ideation for its 25+ businesses, and be a place-based community anchor for youth and adults."