The Achievers Network has received the largest grant in its history – a $750,000 investment from JPMorganChase – to expand its groundbreaking Entrepreneurship Through Acquisition (ETA) Accelerator into new markets across the country.
The grant marks a major milestone for the recently rebranded nonprofit, which until earlier this year was known as Black Achievers. The organization’s updated name reflects a broader, more inclusive mission while staying true to its roots in helping underrepresented people build wealth through education, entrepreneurship, and community connection, according to Michael Moore, Achievers Networks’ CEO and president.
“This support means so much more than funding,” Moore said. “It represents an investment in closing the wealth gap by giving underrepresented entrepreneurs the tools, training, and access to capital needed to purchase existing businesses and keep them thriving.”
A commitment to the next generation
The ETA Accelerator equips aspiring business owners to acquire established companies from retiring Baby Boomer owners – a growing trend that experts say could determine the future of thousands of small businesses nationwide. By preparing the next generation to take the reins, the program aims to preserve local jobs, strengthen communities, and build generational wealth.
With the new funding, Achievers Network will expand its ETA program into North Carolina, in partnership with Asheville-based Mountain BizWorks, as well as Los Angeles, Chicago, Atlanta, Houston and Philadelphia.
The $750,000 grant is part of JPMorganChase’s broader $11.5 million commitment to expanding business succession planning and ownership transition programs, with a focus on employee ownership and entrepreneurship through acquisition.
“At JPMorganChase, we recognize that preparing business owners for ownership transitions – and supporting them throughout the process – is essential to building resilient communities and preserving and building generational wealth,” the company said in a release announcing the grants.
Much more than a name change
For Moore and his team, the timing for the funding couldn’t be better. The organization’s rebrand to Achievers Network underscores its commitment to expanding opportunity while adapting to what Moore described as a shifting social and legal environment for nonprofits.
“After years of empowering underrepresented individuals through education, entrepreneurship, and community building, our new name allows us to embrace a broader following while still honoring the community that gave rise to our movement,” Moore said.
The organization’s guiding purpose remains simple but ambitious: helping people achieve the American Dream. Achievers Network envisions a world where everyone – regardless of background – has the chance to build a life of purpose, own a home or business, provide for their families and access quality healthcare.
David Iyoha, the nonprofit’s VP of operations, noted that the Achievers Network continues to deliver programs focused on entrepreneurship, leadership development, financial education and mentorship – all designed to help individuals from underrepresented communities reach new heights.
“The Achievers Network signals to the world that we welcome all who align with our mission of lifting up underrepresented communities,” Iyoha said. He noted that the name change is a way to better enable the organization to attract a diverse range of participants into its ETA and educational programs.
“It’s not just a rebrand – it’s a renewal of our purpose,” Iyoha added.
For Moore, the record-breaking grant is both recognition of their successes and a responsibility to staying committed to its goals.
“Together,” he said, “we’re building a future where opportunity and ownership are truly within reach for all.”
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