ABOUT US
Sustaining businesses in Philadelphia since 1854
OUR MISSION: Catalyzing economic mobility for small businesses through capital and coaching.
We envision a Philadelphia where merchants have access to the necessary resources and meaningful support to build wealth for their families and communities, ensuring a prosperous future.
We give life to this vision through the strategic deployment of flexible capital, including grantmaking; values-aligned and mission-driven investments; and individualized business coaching for grantees.

STRATEGIC PLAN
In 2022, TMF completed a strategic framework and a new grant strategy, and transitioned from a private foundation to a public charity.
1854
The Merchants Fund was founded
1,329
Grants awarded since 2007
$11,437,375
Funding distributed since 2007
(as of 6/18/25)
BOARD AND STAFF
Board of Managers
(Click on an image below for more info)
Kersy Azocar
President & CEO, Greenline Access Capital
Jerry Chiang
Wharton MBA '26 | Board Fellow '25-'26
Tom Ginsberg, Vice Chair
Senior Officer, The Pew Charitable Trusts, Philadelphia Research & Policy Initiative
Peter Gonzales, Board Chair
Lawyer & Consultant
Bruce Hotaling, CFA (Emeritus)
Managing Director, Focus Partners Wealth
James Johnson-Piett
Principal & CEO, Urbane
Vanessa Lowe
Radio show & Podcast Host, Vanessa’s Money Hour
Swetha Marisetty
Wharton MBA '26 | Board Fellow '25-'26
Seulky McInneshin
Managing Partner, Blue Square Advisors
Carey Morgan, Treasurer
Partner & Financial Advisor, Livelihood, LLC
Shawn Nesbit
President, Good Karma Cafe
Samantha Porter, Secretary
Community Engagement Advisor & Outreach Manager, Federal Reserve Bank of Philadelphia
Elbert Sampson
Retired
Shalimar Thomas
President, The North Broad Renaissance
Joanna Winchester
Director of Training & Technical Assistance, PACDC
Ana Lisa Yoder
Founder & Principal, Yoder Consultancy
Adnan Zulfiqar
Associate Professor of Law, Boston College Law School
Kersy Azocar
President & CEO, Greenline Access Capital“Helping small businesses creates impactful socioeconomic opportunities for all. I am driven by the concept of “Changing the Narrative” for so many small businesses, in particular those historically disadvantaged, and help them succeed, prosper and very importantly, help them create generational wealth”
Kersy Azocar’s Linkedin:
Jerry Chiang
Wharton MBA '26 | Board Fellow '25-'26“Small businesses are the heart of Philadelphia’s neighborhoods: they create local jobs, celebrate the city’s richness, and bring unique character to our communities. Having supported small businesses in the past, I’m excited to continue serving them in this new city, because it has been one of the most rewarding experiences of my career.”
Jerry Chiang’s Linkedin:
Tom Ginsberg, Vice Chair
Senior Officer, The Pew Charitable Trusts, Philadelphia Research & Policy Initiative“Business ownership can be a path to financial security, independence, creativity, or just survival. But that path is underused and sometimes unappreciated in Philly. TMF is pushing back”
Tom Ginsberg, Vice Chair’s Linkedin:
Bruce Hotaling, CFA (Emeritus)
Managing Director, Focus Partners WealthI have been a part of the Merchants Fund for years now, and have seen its work and impact expand exponentially across Philadelphia’s neighborhoods. Our ability to respond quickly helping business owners and their families and neighbors, resonates strongly with me.
Bruce Hotaling, CFA (Emeritus)’s Linkedin:
James Johnson-Piett
Principal & CEO, UrbaneTMF is a one-of-a-kind institution in Philadelphia (and the nation); there needs to be an entity like The Merchants Fund addressing the full spectrum of needs, challenges, and opportunities for the small merchant class of enterprises in Philly. After 150+ years, the work to build and sustain a city-wide support system for micro and small entrepreneurs – from issuing emergency grants to one-on-one advisory to managing large-scale funding program on behalf of government partner – is more critical than ever.
James Johnson-Piett’s Linkedin:
Vanessa Lowe
Radio show & Podcast Host, Vanessa’s Money Hour”I’m so excited to join the TMF board now, amid the compelling headlines about BIPOC businesses like Black women are the fastest-growing group of entrepreneurs in the U.S. TMF has been funding small businesses long before crowdfunders offered A LOCALIZED APPROACH TO BUSINESS FUNDING. Right now, TMF is funding much needed stabilization and emergency grants to keep BIPOC business doors open. With the growth and increased support of BIPOC businesses perhaps one day we’ll help these business multiply their growth by going public with the First Black-owned stock exchange. I look forward to the journey as we find partners and continue honing our programs to meet the region’s small business community needs.”
Vanessa Lowe’s Linkedin:
Swetha Marisetty
Wharton MBA '26 | Board Fellow '25-'26”Small businesses are the backbone of vibrant communities. They bring culture, opportunity, and innovation to everyday life. I’m excited to work with TMF to support entrepreneurs and business owners who are often overlooked, and help them access the tools, capital, and opportunities they deserve.”
Swetha Marisetty’s Linkedin:
Carey Morgan, Treasurer
Partner & Financial Advisor, Livelihood, LLCTMF is an incredible organization that meets the needs of those businesses that we all say we value, but don’t provide enough support to, especially in hard times. It’s an honor to contribute to such an organization with such a unique mission.
I grew up in a small family business and am a small business owner myself, so I think it’s important to make sure that the small business sector remains viable and local businesses thrive.
Carey Morgan, Treasurer’s Linkedin:
Elbert Sampson
Retired“Serving on the board of TMF is important to me because it is an opportunity to use my experience and training to provide assistance to the small business community of Philadelphia. As small businesses are stabilized, they are better able to employ more people who are then able to stabilize their communities – all to the good of all of us.”
Shalimar Thomas
President, The North Broad RenaissanceTMF serves as an advocate and a voice for merchants across Philadelphia who are in need. They are impact-driven in every sense of the word, and I serve to support their leader, the work, and ultimately the tremendous impact TMF has in Philadelphia. Supporting local small businesses is a vibe. There’s something about walking into a store and knowing the owner and its employees, or if the owner is also a neighbor. It’s truly the definition of community and its economic development at its best. Supporting these businesses and helping them grow is a vibe that we should all try to embrace.
Shalimar Thomas’s Linkedin:
Ana Lisa Yoder
Founder & Principal, Yoder Consultancy“I believe deeply in TMF’s commitment to addressing historical disparities in the small business community by focusing resources on BIPOC, immigrant and women-owned businesses. I feel genuinely lucky to serve alongside incredibly smart, thoughtful, and committed board members and staff, from whom I learn every time we come together.
Ana Lisa Yoder’s Linkedin:
Adnan Zulfiqar
Associate Professor of Law, Boston College Law School“Service on the TMF board is important to me because it provides a crucial lifeline for businesses that are the soul of communities, anchors providing a link to the past, and vital for their prosperous futures.”
Adnan Zulfiqar’s Linkedin:Team
(Click on an image below for more info)
Jill Fink
Executive Director
Natalie Francis
Director of Grantee Support
Helen Horstmann-Allen
Director of Special Projects
Miao Liu
Drexel Co-op / Grants Intern
George Pitsakis
Senior Business Coach
Rachael Viscidy
Director of Programs & Partnerships
Jill Fink
Executive DirectorI’m passionate about small businesses and the merchants who run them. I owned a cafe for 13 years and know that small businesses are the heart and soul of our communities. As a former TMF grantee (’08) and board member (’13-’18), I’m fortunate to be in this role providing critical grant and coaching support to those who breathe life and vitality into our neighborhoods.
Jill Fink’s Linkedin:
Natalie Francis
Director of Grantee SupportWith a background rooted in community strategy, advocacy, and the science of hope, I am beyond excited to join The Merchants Fund. As the daughter of Jamaican immigrants who owned small businesses, I understand how merchants shape our neighborhoods not just through commerce, but through culture, care, and creativity. I bring optimism, compassion, and intention to this work, and I’m especially drawn to how TMF supports businesses beyond the grant, recognizing how factors like health access, connection, and stability influence the success of Philadelphia’s small business community.
Natalie Francis’s Linkedin:
Miao Liu
Drexel Co-op / Grants InternGrowing up in a small family business showed me how much relationships, connections, and cultural understanding matter. I learned early on that people can come together to make the community around them stronger. That lesson has stayed with me, and my opportunity as a Co-op with TMF has allowed me to live it out—helping small businesses overcome challenges and seeing firsthand how communities grow closer when we support one another. I am also in my sophomore year at Drexel University, working towards an Accounting degree.
Miao Liu’s Linkedin:
George Pitsakis
Senior Business CoachGeorge Pitsakis is a business owner, business coach and long-time small business advocate. George’s coaching focuses on practical, individualized strategic planning–meeting business owners where they are at in regards to capacity and desired outcomes. His coaching focuses on benchmarked solutions rather than generalized theory, with a strong emphasis on basic business financials and projections. When not working at TMF, he can be found at his Thai Boxing Gym in South Philly or enjoying America’s public lands.
“Historically, entrepreneurship has provided Americans–of all color, creed, and walk of life–the chance at greater financial independence and upward mobility. TMF couples direct grant making with crystal clear business coaching in a way that is extremely unique in the marketplace. As small businesses continue to feel the squeeze of inflation, rising costs, and corporate pressure for market share, it is imperative that organizations like TMF exist to bolster the resources and knowledge of Philadelphia’s entrepreneurs.”
George Pitsakis’s Linkedin:
Rachael Viscidy
Director of Programs & Partnerships“I believe small businesses are the cornerstones of great neighborhoods. Small businesses don’t just create jobs and bolster local economies. They enhance the creativity, legacy, and resilience of their communities. Entrepreneurs commit to overcoming enormous challenges in pursuit of achieving their goals and impacting their communities. It’s an honor to meet small business owners on that journey and to provide support along the way.”
Rachael Viscidy’s Linkedin:
Annual funding reports
The Merchants Fund is a Philadelphia charity established in 1854 to provide charitable gifts to business persons facing financial hardship. Dive into our annual reports to learn more about what our grantmaking looks like today.
