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The State of Social Enterprise in Central Ohio Sixth Annual Report

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The State of Social Enterprise in Central Ohio Sixth Annual Report The State of Social Enterprise in Central Ohio Sixth Annual Report August 24, 2020 A New Way For Business A New Way for Business 103 Social Mission-focused Small Enterprises Business Is Resilient and Responsive Social enterprises are special, mission-driven businesses committed to eliminating the social and economic divide that the COVID pandemic and Black Lives Matter have brought into sharper focus in 2020. For them, social impact is a non-negotiable part of their business that does not ebb when society’s attention wanes. In early 2020 we launched a series of short videos of stories to make their specialness real: www.socialventurescbus.com/ easytounderstand. In 2018 we celebrated that social enterprises had become the dominant job creator in Central Ohio for individuals disadvantaged by past incarceration, human trafficking, drug addiction, chronic homelessness, or developmental disabilities. Gearing Up In 2019 we celebrated eleven local social enterprises that made social enterprise #EasyToUnderstand. Together they provide 1,099 jobs, generate $59.7 million in earned revenue, pay $33.5 million in payroll, and over the prior three years have expanded employment by 49 percent. This year our COO Molly Tafrate and intern Wendy Phillips have put together a report that celebrates the resiliency and dispatch of social enterprises as the COVID-19 pandemic threw all plans out the window. For most, 2020 has become a year to adapt their business and mission to the sudden changes of a shelter-in-place economy, strive to Evolving hang on financially, and plan for a future that is yet to emerge. One of the miracles of social enterprise is the way it allows each of us to be impact-makers. On page 10 we Transforming show you how buying a face mask, a candle, coffee, snacks, dog treats, and hot sauce can alleviate hunger, provide support to survivors of trafficking, and maintain employment for individuals facing barriers to traditional employment. Coming Make 2020 the year we all start Buying Social. Together Allen Proctor, President & CEO Social entrepreneurs’ mission focus means that their response to the COVID pandemic was not just to keep their businesses alive but even more to respond to the immediate new needs of the community. SocialVentures’ response was twofold: Over $5.1 million in • In ten days we conceived and launched an Impact Box program to sales; total amount package social enterprise products for sale online. Most of our social of payroll is over $2.1 enterprises are brick and mortar or do not have active online sales. Go to www.socialventures.shop. million* • We put our 75 day due diligence process for Social Ventures Fund into overdrive and in eighteen days were able to execute a five year, deferred *Out of 16 reporting social repayment loan and a six month waiver of debt service payments for two enterprises major social enterprises. On the following pages we celebrate just a sample of the ways social enterprises continue to demonstrate their mission-focus and non-negotiable commitment to making a difference. 1 | A New Way For Business | The State of Social Enterprise in Central Ohio | Sixth Annual Report A New Way For Business | The State of Social Enterprise in Central Ohio | Sixth Annual Report | 2 Gearing Up the Sector Gearing Up for Impact Fortuity Calling Fortuity is a project four and a half years in the making. After fundraising more than $12 million, they’ve successfully opened a Gear·ing Up to prepare for an activity or event; to get ready contact center in Franklinton with the goal of creating over 500 jobs for Columbus residents who are living in low-opportunity inner-city neighborhoods. The social enterprise is partnering with community leaders to provide on-site childcare, dining services, and healthcare in its Over the last six years completely renovated commercial building officially located at 775 W. Broad social enterprises have St. in Columbus. More than700 been “gearing up” for The company hopes that by providing workers with support services and a participants in social growth. Whether that’s expanding locations and shorter commute, it will be able to limit one of the most pervasive problems enterprise accelerator programs employees, or gaining of call centers: high turnover. Better retention means better service for clients from 2015-2019 funding to better serve at more competitive prices. Co-founders Fred Brothers and Katie Robinson plan their missions, the social to be profitable by, in their words, “doing good business.” It’s social enterprises like Fortuity that are gearing up to really make an enterprise ecosystem has impact in the Columbus community. been tirelessly growing $815,000 and increasing the social Economic & Community Development Institute (ECDI) awarded in cash prizes to impact seen throughout ECDI is a trusted technical assistance provider for small businesses that specialize social enterprise accelerator programs Columbus, and beyond. in construction, food, health and fitness, and retail for minority- and women-owned from 2015-2019 businesses. In an effort to support small, main street businesses across all 88 counties In addition to the growth of social entrepreneurs, there in Ohio, last fall ECDI was awarded a $1,800,000 loan from the Small Business has been the gearing up of support from the community. Administration (SBA). With this funding, ECDI will continue to provide loans for start- More than 160 social As awareness of social enterprise has spread, various up and emerging businesses. organizations have taken note and provided a wide Using their Business Innovation Center (BIC), ECDI provides tailored individual enterprise businesses range of support and exposure to the sector. assistance, as well as start-up and expansion funding to support the unique needs of in social enterprise launched all entrepreneurs, and now new and existing social enterprises. The social enterprises accelerator programs from 2015-2019 that take part in BIC will create employment opportunities for individuals who are more prone to long-term unemployment, including, but not limited to, formerly incarcerated individuals, refugees and immigrants, those overcoming substance • CoHatch Community Networking abuse, and those struggling with homelessness. • Philanthropitch Columbus • POINT App Photo by ECDI • Festival for Good • BlkHack • APTE • Can’t Stop Cbus • Impact Assurance Impact Boxes Pearl Interactive Network Engaging the Pearl Interactive Network (PIN) is a 15 year old social enterprise based in Columbus that provides program management, Public staffing, sourcing, and 508 services to federal government agencies. The company gives hiring priority to disabled veterans, veterans, military spouses, people with disabilities, and people PromotingEnterprises Social living in geographically challenged areas. Last fall, Pearl received a HUBZone Certification from the Small Business Administration (SBA) . The HUB Zone certification Publicizing • SEA Change Impact coupled with Woman Owned certification enables Pearl • Rev1 Ventures’ Customer Learning Lab • Columbus Business First • GiveBackHack Interactive Network to compete for set-aside contracts in • Columbus CEO • Small Business Development Center 28 different states while deepening Pearl’s social mission of • Columbus Dispatch at Columbus State • The Metropreneur giving hiring priority to people with barriers to employment. Training Social • CauseImpact Innovation Catalyst • Columbus Monthly Entrepreneurs • Cova Changemakers Pearl’s federal contracts support CMS, Census, Department of • People Helping People Podcast Celebrating Education, OPM and IRS. The impact of COVID on Pearl is the acquisition of federal and state contracts performed with work Accomplishments at home agents. (insert new paragraph break here) While maintaining its core business of acquiring large federal and prime contracts, Pearl intends to segue into workforce development as a driver to create jobs in rural and economically challenged • SocialVentures’ Positioned Columbus Builds Support Around Social Enterprises Around Support Builds Columbus areas. to Prosper • Metropreneur Social Enterprise of the Year PIN plans to keep an upward trajectory and pivot to gain more workforce development contracts that create training programs Awards and ASPIRE and thus create more jobs. Gaining contracts like these keep underserved people across the country employed and help their • BBB Spark Awards for Ethics social impact thrive. 3 | A New Way For Business | The State of Social Enterprise in Central Ohio | Sixth Annual Report A New Way For Business | The State of Social Enterprise in Central Ohio | Sixth Annual Report | 4 Transforming Transforming Trans·form to undergo a change in form, appearance, or character; The POINT app become transformed The POINT app was launched in 2018 to act as a Quick Facts: “ClassPass” for volunteering—one app to volunteer Since POINT’s launch in 2018, or give to any cause. POINT is a starting point for it has gotten 11,000 users on The social enterprises highlighted here have all undergone a transformation of operations because of COVID-19. They’ve taken volunteering. Anyone can sign up and use the app to find out where their volunteer the platform. Environmental the challenges presented by COVID-19 and have transformed what they do to ensure their social impact lives on. efforts are needed most across 200 nonprofits in Columbus. POINT has made it causes tend to attract the easier than ever to volunteer in Central Ohio. Zero Waste Event Productions greatest
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