MIAMI BAYSIDE FOUNDATION
Advancing th- City of Miami through the support of minority businesses and educa Ion
25 SE 2 ~d Avenue Suite 240, Miami, FL 33131
Board of Directors
Chair Benny Carmona Nathan Kurland Senior Vice President/Bank Lending Division Licensed Realtor Total Bank 3121 Commodore Plaza 2020 Ponce de Leon, Suite 101 Coconut Grove, FL 33133 Coral Gables, Florida 33134 215-776-1038 (305) 476-6399 [email protected] [email protected]
Vice-Chair Jeff Cazeau Pamela Weller Kleiner Cazeau Senior General Manager 18305 Biscayne Blvd ., Ste. 302 Bayside Marketplace Aventura, Florida 33160 Bayside Boulevard, Suite 106 (305) 517-1392 ext 102 Miami, FL 33132 [email protected] 305-577-3344 x7010 [email protected] Luis Cuervo Executive Director Treasurer CAMACOL Loan Fund Program Josie Correa 1401 West Flagler Street Executive Director Miami, FL 33135 Downtown Miami Partnership, Inc. 305-642-3870 nd 25 SE 2 Avenue, Suite 240 [email protected] Miami, FL 33131 305-632-1014 Bill Diggs [email protected] President & Chief Executive Officer Miami Dade Chamber of Commerce Secretary 1951 NW 7th Avenue, Suite 13-139 Nicole E. Ewan Miami FI 33167 Record Systems Coordinator 305-751-8648 City of Miami BDiggs@m~dcc . org 3500 Pan American Drive Miami, FL 33133 Maria Korge 786-973-7787 Managing Partner [email protected] Korge & Co. th 459 SW 19 Road Miami, FL 33129 Directors: 786-536-4113 Rolando Aedo [email protected] Executive Vice President/Chief Marketing Officer Greater Miami Convention & Visitors Bureau 701 Brickell Avenue, Suite 2700 IDEO I ,T H Miami, Florida USA 33131 305-539-3090 [email protected] P LI R F I f'A. \ Ol-1b-\2- • MBF Board of Directors (page 2)
Beatrice Louissant Elizabeth Morton Chief Executive Officer Fabricant Morton & Company Southern Florida Minority Supplier 100 SE 2nd St. #2311 Development Council Miami, FL 33131 9499 NE 2nd Avenue, Suite 201 305-371-2830 Miami, FL 33138 [email protected] 305-762-6151 Finance & Audit Committee [email protected] Kathleen O'Neil Louis McMillian Retired Global Investment Realty 3301 NE 5th Avenue 235 NE 25 th Street Apt 310 Miami, FL 33131 Miami, FL 33137
305-469-8400 786-514-2111 \ -.. [email protected] \ .. Finance & Audit Committee Pablo Perez-Cisneros Retired June 2012 1420 Brickell Bay Drive Miami, FL 33131 305-373-8104 [email protected]
Bob Powers Retired 565 NE 66 Street Miami, FL 33138 305-299-0052 bob [email protected]
Non-Board Committee Members Michelle Barton King Barton King Soret Founding Partner 4000 Ponce de Leon Blvd, Suite 470 Coral Gables, FL 33146 305-864-2519 [email protected] Education Committee
Adam Dunshee Retired 500 NE 50th Terrace Miami, FL 33137 (303) 725-8098 SUBMITTED INTO TH E [email protected] Loan Committee PUBLIC RECORD FOR ITEM PFll ON o712~ 1/2 • r .I I
~ ~JAMI BAYSIDE FOUNDATION
~ Advandng the City of Miami through the support of minority businesses and education ANMUAL REPORT
A Year of Notable Achievements
Dear friends and supporters,
We began 2011 with the creation ofa new loan program for minority businesses in the City of Jvi iami and ended the year with the financing of six lo ans that created 31 jobs. in June, the Foundation made a gift of $200,000 to Florida International Un iversity, which increased in value to $350,000 with State of Flo rida matching funds. The gift established both a scholarship endoJ.vment and a scholarship fund for first-generation students studying business and entrepreneurship and living in the City of Miami. After having restructured the scholarship criteria in 2011, the Foundation awarded 55 scholarships to students studying entrepreneurship at Miami Dade College, all residents of the City of Miami.
We partnered with the M iami Chapter of SCORE, a national association that counsels small business owners by connecting them with senior-level mentors and hosting management workshops. The local chapter has been instrumental in providing our loan applicants with a greater knowledge of how best to run a small business by providing 89 programs throughout the year.
In October, we had our first Networking Event with loan and scholarship recipients, representatives of FlU and Miami Dade College, community leaders and members of our Board. This event, together with media coverage throughout the year, helped raise awarenes of our programs and how they help advance economic development in the City of Miami through the support of minority businesses.
I am grateful to each member of the Board of Directors for their time, expertise, and enthusiasm and for their commitment to helpingfulfill the Foundation's mission.
I am especially grateful to Bayside Marketplace and to General Growth Properties, who since the creation of the Foundation in 1986 have been instrumental in the Foundation's growth, for their continuing and very generous support.
As we look forward to another g reat year, we are working on a gift to endow a scholarship fund at Florida Memorial University, streamlining our loan program, and lookingfor different and better ways to reach a larger segment ofour community through loans and education. su
ITE' ROBERT POW ERS, Chairman $308,653
GGP BAYSIDE MARKETPLACE
"GGP Bayside MarkL'lp/ace hils beell i llstrLU lll!lItai ill I IzL' Foulldatiolls gruwth sillce its creatiorl 111 1986.
J {IIII especially gruteflll to GGP for its colltllltli ng and l'ery gCllt!l'cHlS support."
ROBERT POWERS, Chairman
$2,000 GREAT ER MIAMI CONVENTION & VISITORS BUREAU GREATER MIAMI CONV E , ' TI ON MIAMI. & VISITORS BUREAU
$1,000 A subsidiary of Banco Po pular Espanol, S.A. TOTAL BANK
$500 ~ Korge&COMPANY ~ . ". KORGE & Co. I CITIBANK
How CAN You HELP US?
Advancing economic development in the City of M iami can come only as a result of multiple organizations working together toward " common goal. By partllerillg with the M iami Bayside Foundation, organizations have an opportunity to impact job creation, encourage economic development, support tomorrow's leaders and improve the future of the City of M iami's core economic center.
To LEARN MORE ABOl;T SPONSORSHIP OPPORTUNITIES OR TO DONATE TO THE FOUNDATION, PLEASE CONTACT Executive Director, Kathleen Murphy at [email protected]. "This experience 11'(/5 humblillg and allowed Illl' to be surrounded by individuals wi/() have 'tarted their business in Miami and are creCllillg additional opportunities for otllers like lIIyself"
WrLBERTlNE BERKELEY, Fall 20 1/ Rec ipient, Miami Dade College
One of the Foundation's most rewarding initiatives is funding scholarship endowments. Revitalizing an almost $1 million endowment fund at Miami Dade Coll ege, 55 scholarships ranging from $500 to $1000 were awarded this year. The Foundation worked diligently with Miami Dade College leaders to reach City of Miami minority students in need, which culminated with a celebratory networking event in October.
Widening its efforts to help future minority entrepreneurs in the City of Miami, the Foundation's 2011 Education Committee voted to endow additional higher learning institutions. In June, the Foundation announced a gift of $200,000 to Florida International University with State of Florida matching funds resulting in a total impact of $350,000. Centered above, flU President Mark B. Rosenberg (right) recognizes Foundation Chairman Robert Powers.
Pari of thl' gill will fUlld Jill' First (;cIICl'£diol! ScJw/ars/lip Progral/1 for .'ill/dcllts 11'110 arc the fir:>! gelleratioll ill I/Ieir)illllilics to I.?al'll II college degree.
"The scholnr hip was a vital financial boost i ll a momellt that I lIeeded the most help."
CARLOS CORDOVES, Fall 2011 Recipient, Miami Dade College
"The Miami Bayside Foundatiolls scholarship really helped me to achieve 111)' goals, and I hope ill the Ilear FLiture to be aule to help others like they'lle helped me, I know how imporlllllt edt/catiol1 is (llld the Miami Bayside Foundatioll is helping people like me alld other recipiellts to become a 'licces fill bllsiness persoll ."
ALISSON Dos SANTOS, Fall 2011 Recipient, Miami Dade College
Fi nd us on Facebook
FLORIDA INTERNATIONAL Like Us on Facebook! ~ rIlMiami Dade I IUNIVERSITY Facebook.com/MiamiDadeScholarship .,. College
@2012, I m .~cry ;\l1d ,l'ntenJ propert), of Miami BaySide Fnun dat ion. Design by Al.A Stud io, Inc. All righls reserved. Chairman Robert Powers
Treasurer Josie Legido Correa
DOWN T OW M JArvi I PART NERSHIP, INC.
Secretary Maria Korge
KORGE & Co.
Vice-Chair Pamela Weller BAYSIDE MARKETPLACE
Executive Director Kathleen Murphy
In the early 1980s, prior to the ground-breaking of Bayside Marketplace, the City of Miami and famed Bayside Marketplace developer Jim Rouse began discussing ideas for an organization that 2010·2012 TRUSTEES would support minority entrepreneurs in the City of Miami. In 1986, the Miami Bayside Foundation was created from this partnership as a means to Rolando Aedo Nicole Ewan revitalize and serve the City of Miami's downtown GREATER MIAMI CITY OF M I AMI economic core. CONVENTION & VISITORS BUREAU Nathan Kurland Since then, the Miami Bayside Foundation has LI C E N SED REA LT OR thrived from the retail center's commitment to assist Benny Carmona the Foundation. During 2011, the Foundation received lUT ALBANK Beatrice Louissaint invaluable support from Bayside Marketplace's SO THERN FLORIDA ownership, staff and General Manager and Foundation Jeff P.H. Cazeau MINORITY SUPPL IER Vi ce-Chair, Pamela Weller. K LEI N E R & CA Z E A U P. L. D V E L OP M EN T CO N C IL This successful partnership created nearly 25 years ago only continues to thrive. Today, GGP Bayside Luis Cuervo Louis McMillian Marketplace remains committed to advancing CAMACOL L o N GLOBAL !r-; VES TMEN T minority businesses. Further empha,sizing GGP's FUND PROGRAM REALTY promise, more than 75 percent of the retail center's businesses are minority-owned. Together, GGP Bill Diggs and the Miami Bayside Foundatioll' are positively vll A MID A DEC HAM B E R Pablo Perez-Cisneros impacting the lives of many in MiaI;l1i. OF COMMERCE R 'I'l RED PANTHER COFFEE ... A grateful recipie.nt. of t h ~ . foundation's loan prog ra m, Pa nther Coll ee has rev lution ized the local coffee ~ce n e since it opened in 20 10. S the fi.rst recipient of the Miami Bayside oundation loan, Panther Coftee u d the loan moni , to purchase quipment, attain capital for raw materi als such as gr en coffi e and hi re seven new employe . Panth r Coffee, ba ed in Wynw od, i a specialty cof~ e ro oster, re tailer and hol e aler specializing in the mall-batch roasting of coffee beans and the preparatio n of colfee beverages.
AVENUE D J AZZ AND B L UES L OU N GE This soon to open Downtown ven ue was able to purchase necessary equipment that would have been difficult to purchase without the help of the loan.
"While some businesses are shutting their doors, we are opening new ones. The Miami Bayside Foundation loan program has been an invaluable boost during this difficult economic climate. We were able to secure a business loan that would have been impossible to achieve through traditional banking methods and the loan has enabled us to make significant additions to our new venue. We are extremely grateful to the Miami Bayside Foundation for the loan."
WILL EDWARDS, Owner
T H E STAGE The Stage, located in the famed Design D istrict, is a hub for live music, art, and film. Offering a large space, high ceilings, comfortable seating, three bar locations and art-lined walls by some of South Florida's best talent - this venue showcases great music nightly, all adding to the C ity of Miami's ever-growing cultural scene. Since receiving the loan, The Stage has hired seven new employees.
"Miami Bayside Foundation helped us finalize our construction and capital needs in order to commence operations in a timely manner. The process was easy and the terms are extremely competitive, especially for a start-up. Their program is a true economic stimulator in the City of Miami and we look forward to seeing more growth in the City because oftheir programs."
CARLOS GARCIA, Partner IMR DEVELOPMENT CORP. Ti;;iilr:ti~ IMR is a minority, disable d-service veteran and woman-owned business. A family-operated company, TMR provides construction managem ent, profession al services and electronic securi ty for its clients. Recent projects include remod ling of the data center at the VA M iami Medical Cen te r and project control of the Noel Lesley Super Bowl XLVI. y have hired nine new employees since receiving the loan.
"In this economic climate with credit being tight for small business, the Miami Bayside Foundation really ca me through for us. Their effort to secure a business loan for us has given us a tremendous boost. We were able to purchase a company vehicle, and establish both lines ofcredit and national supplier accounts that we would not have beell able to do otherwise."
KEITH JENNINGS, Senior Vice President
NI CE TRA NSPORTATION S ERV IC E ice Transportation Service has proudly served the Department of Veterans Affairs Miami Healthcare System for the past 19 years. Nice TransportaLi on Service provide. veterans with non-emergency transportation throughout the City of Mi ami, M iami-Dade County and most of the State of Florida.
"I sincerely thank the Miami Bayside Foundation for helping my company re ce ive a business loan when most banks discontinued our line of credit due to the economy. We now have money for working capital and have expanded business by purchasing more vans."
CARLOS JIMENEZ, President
DOORS INC. Woman-own d and operat d, D rs I nc. supplies, fabricate and in tall ,eel doors. security gates, fenc s, raili ng and miscellaneous metaJ work f If "tructuraJ, fi r co • nd life safety compliance from its Li tLI Hait i I cation. C li enLs include high-rise c ndon iniums, )ffk building and hotels. 111ey have hired . ix employees since they received the loan. 2011 FINANCIALS
• .. • •• FOR THE YEA R ENDED • December 31,2011 (audited)
Statement of Activities
Revenues Contributions ...... $314,695 Investment Income, Net ...... (18,784)* Interest and Other Income ...... 8,164 Total Support and Revenue...... $304,075
Expenses Program Services ...... $265,011 Supporting Services ...... 55,589 Total Expenses ...... $320,600
Change ill Net Assets ...... (16,525) *
Statement of Financial Position
Assets Cash and Cas" EqU ivalents ...... $572,766 In tmellts ...... 478,023 Loan Receivables ...... 245,1 6 To ta~ Asse
Liabilitie and Net Assets Unrestricte ...... To tal Net Assets ...... $1 ,295.985
*Due to market conditions.
The complete, audited M iami Bayside Foundation Financial Report is available upon request.