Mapping the Third SectorDublin 12 Funders MarketSt Agnes Parish Centre

Social FinanceJennifer Hennessy

Social Finance ExecutiveClann Credo – the Social Investment

Fund

Speedpak“Social Finance has as its prime purpose, care of people and communities” Sr Magdalen Fogarty, Founder Clann Credo

Purpose of Presentation

•Who are Clann Credo?•What is Social Finance?•How does it work?

Background•Since 1996•Not-for-profit - Registered Charity•Over €26M invested in over 200 projects

•€7.2M approved in 2008•Funded by Religious Organisations and SFF

What is Social Finance?

Social Return + Capacity to Repay

Access to Finance for: - Community & Voluntary Sector,

- Charitable Organisations- Community Businesses and

- Social Enterprises

Difference from Mainstream Providers?•Specifically designed for Third

Sector•A way for Investors to contribute to social development

•Proven Track Record•No Personal Guarantees•Build Individual Organisation’s Capacity

Projects Supported•Social Housing•Community & Enterprise Centres

•Sports Facilities (including GAA/soccer clubs)

•Elder and Youth Care•Environmental Projects•Community Arts/ Drama•Accessible / Rural Transport

Project Type1 Abbeytown/Abbeyview Residents Association Community Facilities Mayo2 Allihies Parish Co-op Arts & Tourism Cork3 Avondhu Blackwater Partnership C&V Support Agency Cork4 Ballyduff Community Council Community Facilities Waterford5 Ballyhooly Community Council Community Facilities Cork6 Bee Park Resource Centre Community Facilities Leitrim7 Caha Centre FRC / CDP's Cork8 Carrigtwohill Communtiy Council Community Facilities Cork9 Clare Accessible Transport Disability Clare10 Clare Family Resource Centre Childcare Clare11 Comber Romanian Orphanages International / Disability Laois12 Coolagown Development Association Youth Cork13 Currow Currans Rural Development Arts & Tourism Kerry14 Doorway Arts & Tourism Donegal15 Dublin Community Television Arts & Tourism Dublin16 Fatima Community Launderette NFP Business Dublin17 Genesis Addiction / Counselling Dublin18 Heat & Energy Action Tallaght NFP Business Dublin

Project Type19 Julianstown & District Residents Association Community Facilities Meath20 Kerry Cultural & Literary Centre Arts & Tourism Kerry21 Kilfian Community Development Association Community Facilities Mayo22 Kilkee Housing Association Social Housing Clare23 Kilworth Community Council Community Facilities Cork24 Kimuckridge FRC FRC / CDP's Wexford25 Kingscourt Harps AFC Limited Sports Cavan26 Lisdoonvarna Failte Limited Community Facilities Clare27 Lixnaw Playground Project Community Facilities Kerry28 Louisburgh Nat School Parents Association Education Mayo29 Longford EDIT Community Facilities Longford30 Malin Head Childcare Donegal31 Portumna Town FC Sports Galway32 Rearcross Food Ent Centre Enterprise Centre Tipperary33 Sophia Housing Association Social Housing Dublin34 St. James Resource Centre Addiction / Counselling Dublin35 Vantastic 2007 Disability Dublin36 Volunteering Ireland C&V Support Agency Dublin

Projects Supported•St Michaels Theatre Centre for the Arts

•Kilmuckridge Family Resource

Centre

HEAT Ltd•Insullation of 2,500 Attics •Draught Proof 1,600 Houses•Staffed by CE & JI workers•County Council Contract

Product•Loan size €20k - €500k•Several months to 7 years (15 yrs for property)•ECB + Margin

•Working Capital •Bridging against grant or fundraising

•Matching Funding•Property purchase, Construction / Refurbishment

•Purchase equipment and vehicles

Making an Enquiry

•What you do•What you propose to do•What your needs are

Process•Meeting with Clann Credo Representative

•Clann Credo Executive prepares an Evaluation report

•Report presented to Evaluation Committee for Recommendation

•Board Decision

Information Required

•Social Dividend – Mission / Ethos•Background and Summary of Activities

•Management and Board•Viability – Market demand for product

Information Required•Loan Requirement•Repayment Capacity•Audited Accounts•Management Accounts •Projected figures

Thank You

ContactJennifer Hennessy

Office No. 01- 4002100Mobile: 087 9556721

E-Mail: Jennifer@ClannCredo.ie

Web: WWW.ClannCredo.ie