by nahlah Abdur-Rahman
April 8, 2025
The Blank Family Foundation’s lofty gift will support the development of RICE 2.0, a networking and resource hub for Black entrepreneurs.
The Blank Family Foundation wrote a $2 million check to the Russell Innovation Center for Entrepreneurs (RICE) to help foster opportunities for Black entrepreneurs in Atlanta.
The donation will go toward the development of RICE 2.0. The space will serve as an innovation and networking hub that builds economic empowerment for small and emerging business owners. According to RICE’s press releasethe donation from the Blank family promotes a “shared belief” in upward mobility and generational wealth-building for Black entrepreneurs within and beyond the Atlanta community.
The monumental news broke April 2 following a fireside chat held at RICE. The talk featured Jay Bailey, the center’s President & CEO, Fay Twersky, President of the Arthur M. Blank Family Foundation and Kacey Venning, a distinguished RICE Stakeholder and nonprofit leader. The conversation’s theme, “The Power of Collective Prosperity,” was further echoed in the lofty donation supporting future business leaders.
“This commitment marks a pivotal milestone for RICE,” said Jay Bailey, President & CEO of RICE. “The Arthur M. Blank Family Foundation’s belief in our mission is not only humbling, but also transformative. This grant fuels more than just our building—it fuels dreams, innovation, and the ability for our entrepreneurs to grow thriving businesses that leave a legacy.”
Bailey also noted how the billionaire family’s patriarch, Arthur Blank, is one of Atlanta’s legendary entrepreneurs. Blank found success and fame as the co-founder of Home Depot and owner of the Atlanta Falcons. The business mogul has continually given back to the Georgia city by elevating its business sector while championing diversity.
Bailey added, “Herman J. Russell and Arthur Blank are two of Atlanta’s most prolific entrepreneurs; visionaries who didn’t just build companies, they built communities. Their legacies are alive in the walls of this building, and in the spirit of every entrepreneur who walks through our doors. Today, we honor that legacy by investing in what’s next together.”
Twersky also emphasized the Blanks’ communal upliftment. She stated that this donation will trigger economic mobility for Atlantans as they build success for their own family legacy.
“This investment reflects our chairman’s entrepreneurial journey and his commitment to giving back to Atlanta, a city that has given him so much,” added Twersky. “RICE’s extraordinary work supporting entrepreneurs creates pathways to economic mobility and opportunity. By investing in entrepreneurs at all stages, we’re fostering collective thriving where individual success strengthens entire communities.”
RICE 2.0 will offer small business grants, expanded programming and mentorship options for its cohort of visionaries. The innovation center, through the support of the Blank Family Foundation, will provide crucial opportunities to fuel the entrepreneurial ambitions and potential of Atlanta.
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