Today we’d like to introduce you to Jill Fink.
Hi Jill, it’s an honor to have you on the platform. Thanks for taking the time to share your story with us – to start maybe you can share some of your backstory with our readers?
Having traveled a bit of a winding road, I’m not entirely sure where to begin. Following grad school (a Master’s in Women’s Studies), I moved to Philadelphia in 1998 and began working in the nonprofit sector. Following the 2000 election, I accepted an offer from The College of New Jersey to build out their newly established Women In Learning & Leadership program. Commuting to Trenton every day became taxing, and at the same time, I was becoming more deeply embedded in my own neighborhood, where I had purchased a home in 1999. The desire to contribute to that community – and also recognizing what was missing – led me to open Mugshots Coffeehouse & Cafe in 2004 and set me on a path I had never anticipated.
[NOTE: I’m happy to elaborate on the circumstances and public/private programs that made opening the cafe possible, e.g. I was able to buy my home in 1999 bc I qualified for a first-time homebuyer program for low-income residents. If it weren’t for that program, and the equity that I had in the house, I never would have been able to get a bank loan to start the business.]
Over the ensuing 13 years, I owned and operated Mugshots, which eventually expanded to three locations. I also returned to non-profit work, eventually becoming the Executive Director of The Merchants Fund in 2018. My first introduction to TMF was in 2008 when Mugshots received a grant, and I later joined the TMF board in 2013.
Serving as TMF’s Executive Director feels like kismet, and is a role where I get to lean into my past experiences as both a nonprofit executive director and a small business owner to best support current small business owners in Philadelphia.
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
Not only has the road been winding, but it has most certainly also had its bumps and detours. I started Mugshots with a business partner and learned a lot about what it means to be aligned, both in terms of strategy and values. It was a beautiful and successful business for many years, and something I am still extraordinarily proud of. Similarly, the partnership was successful for a long time, but partnerships are challenging, and ultimately, this one was not successful. Because we didn’t exactly see eye-to-eye on an exit strategy, our separation was exceedingly complicated, often contentious, and quite costly. I made a number of mistakes that I now caution others against making, particularly when establishing the governing documents. I eventually sold the business in 2017.
All of those bumps and detours, however, have led me to where I am now. And in my role at TMF, I’m able to share those struggles and challenges with TMF grantees. Whether it’s to lend an ear when they are going through their own hardships or offer guidance based on my own experiences, I can often say “I know what you’re going through,” and it’s not an empty statement.
We’ve been impressed with The Merchants Fund, but for folks who might not be as familiar, what can you share with them about what you do and what sets you apart from others?
Founded in 1854, The Merchants Fund has supported Philadelphia merchants during times of financial hardship for over 172 years. By providing grant funding and customized business support, TMF equips under-resourced merchants with the tools they need to succeed, build wealth, and contribute to a more equitable and just Philadelphia.
We are passionate about supporting the vibrant small businesses that give Philadelphia neighborhoods their unique character. Whether it’s a beloved barbershop, a cozy café, or a neighborhood bodega, TMF knows that strong businesses lead to strong, flourishing communities. Our vision is one where every merchant—especially those who have been historically underserved—has access to the resources and support they need to thrive.
TMF is unique not just in Philadelphia, but across the Commonwealth and even the country. We’ve yet to find a peer organization whose primary mission is to provide grants to small businesses. That being said, we work closely with partners like community development corporations (CDCs) and community development financial institutions (CDFIs) to ensure that merchants get the right form of support at the right time.
Since 2017, we’ve awarded over 1,300 grants – distributing over $12.7 million – to small businesses across the city. Thanks to generous funding from the Philadelphia Department of Commerce, TMF has been able to significantly increase support for businesses facing certain types of emergencies. That being said, we are still far from meeting the overall need, and unfortunately, we deny more grant requests than we’re able to fund. As a 501c3 nonprofit, we welcome support from individual donors who understand how vital small businesses are for a thriving community and a healthy economy.
Is there something surprising that you feel even people who know you might not know about?
Individuals are often surprised that TMF was founded in 1854. I often set the context and explain that it was before either public or private insurance existed. There were no federal safety net programs like Social Security insurance or Medicare. Similarly, there were no private insurance programs, whether health insurance, life insurance, or business insurance. So merchants created a membership association – much like a mutual aid society (the precursor to modern-day insurance companies*) – to support each other during times of hardship. Originally, it was thought that TMF would establish a home where indigent merchants would be cared for when they were no longer able to work or care for themselves. While that home was never established, until 2017, TMF provided monthly stipends to retired merchants (or their widows) who did not have the benefits of a 401k or pension. While TMF has provided grants to active businesses since 2017, we will continue to support a small number of legacy retirees until their death.
*think Mutual of Omaha, Liberty Mutual, MassMutual, etc.
Pricing:
- We don’t sell products, but suspect you may feel warm & fuzzy if you make a donation to support our work. https://merchantsfund.org/donate/
Contact Info:
- Website: https://www.merchantsfund.org
- Instagram: @themerchantsfund
- Facebook: @themerchantsfund
- LinkedIn: https://www.linkedin.com/company/the-merchants-fund
- Other: https://www.linkedin.com/in/jillcfink
