The Freedom Bank Foundation's Inaugural Fall Gala Raises Over $110,000 to Support Economic Inclusion

Rhea-AI Summary

The Freedom Bank of Virginia (OTCQX: FDVA) announced that its inaugural Fall Gala raised over $110,000 to support economic inclusion for entrepreneurs of color in Northern Virginia. The funds will be allocated to the NOVA Freedom Fund, which offers financing and technical assistance to minority business owners in the DC Region. President Joe Thomas expressed gratitude for the community's support, emphasizing the gala's success in exceeding its fundraising goal. The Freedom Bank Foundation is a 501(c)(3) nonprofit organization dedicated to these initiatives.

Positive

• Raised over $110,000 for the NOVA Freedom Fund, exceeding fundraising goals.
• Funds will assist entrepreneurs of color, promoting economic inclusion.

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• None.

Bank Foundation Celebrates Successful Fundraising Event Benefiting Entrepreneurs of Color in Northern Virginia

FAIRFAX, Va., Oct. 19, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced the Freedom Bank Foundation's inaugural Fall Gala raised over $110,000 to promote economic inclusion in the local community and support the critical work the Foundation has engaged in with the Community Business Partnership (CBP). The Foundation is focused on supporting the NOVA Freedom Fund which was launched by the CBP and Freedom Bank to provide financing and technical assistance to minorities and entrepreneurs of color in the DC Region.

"We are grateful for the overwhelming success of our first ever Freedom Bank Foundation Gala. We are exceptionally proud of the generous support of such a diverse group of individuals and distinguished businesses for the Foundation's important mission. The local business owners who have received funds from the NOVA Freedom Fund to enable them to transform their trajectory has been both impressive and inspiring. This success led us to the bold conclusion that we could do more and that the mission would resonate with others in our network. This conclusion held true as the Gala more than doubled our fundraising goal, raising over $110,000. We are so appreciative to our clients, employees, board of directors, vendor partners, and personal friends for their incredible support of the event and mission. We look forward to putting these funds to use in order to assist the entrepreneurs and business owners of color in our area," said Joe Thomas, President and CEO.

The Freedom Bank Foundation is a nonprofit, tax exempt charitable organization under Section 501(c)(3) of the Internal Revenue Code. Businesses or individuals who are interested in learning more about the Foundation or the NOVA Freedom Fund are asked to contact freedombankfoundation@freedom.bank or visit freedom.bank/foundation.

About Freedom Bank

Freedom Bank (OTCQX: FDVA) is a next-generation community bank, headquartered in Fairfax, Virginia, offering commercial banking, personal banking, and mortgage banking solutions using banker expertise and innovative technology to build lead relationships with clients. Focusing on businesses, real estate owners, and professionals, Freedom Bank concentrates on key industry verticals to deliver unique, sector-specific solutions to help clients meet their goals and realize their dreams. Freedom Bank has sales office locations in Fairfax, Vienna, Reston, Manassas, and Chantilly, VA. The Freedom Bank Mortgage Division is headquartered in Chantilly, VA and the Freedom Bank Small Business Lending Division is headquartered in Harrison, NY. For information about Freedom Bank, visit our website at www.freedom.bank.

Contact:
Joseph J. Thomas
President & Chief Executive Officer
Phone: 703-667-4161
Email: jthomas@freedom.bank

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SOURCE The Freedom Bank of Virginia

FAQ

What amount did the Freedom Bank of Virginia raise at the Fall Gala?

The Freedom Bank of Virginia raised over $110,000 at its inaugural Fall Gala.

What is the purpose of the NOVA Freedom Fund?

The NOVA Freedom Fund provides financing and technical assistance to minority entrepreneurs in the DC Region.

When was the Fall Gala held for the Freedom Bank Foundation?

The Fall Gala for the Freedom Bank Foundation was held on October 19, 2022.

Who is the President and CEO of Freedom Bank of Virginia?

Joe Thomas is the President and CEO of Freedom Bank of Virginia.

What type of organization is the Freedom Bank Foundation?

The Freedom Bank Foundation is a nonprofit, tax-exempt charitable organization under Section 501(c)(3).