Social Enterprise and Housing
May 2010
A presentation to NBNPHA
By Seth AsimakosGeneral ManagerSaint John Community Loan Fund
ACCSE defines social enterprise in the following way:
Social enterprises are (businesses owned by) non-profit organizations, selling goods or services in the market place for the dual purpose of generating income and creating a social, environmental and /or cultural value.
Definition
Atlantic Council for Community and Social Enterprise
Social Enterprise and Housing
In spite of strong ‘economic growth’ in Canada, many communities have seen increasing levels of inequality, disadvantage and decline.
Territorial, parts of territories, cultural, linguistic, ethnic
Why?
Building Local Assets
To improve social conditions for people living in Saint John by promoting economic independence and fostering entrepreneurship in our community.
Our mission
The Saint John Community Loan Fund helps individuals:
• create income
• build assets
• and attain greater self-reliance.
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Development1997 Idea - Urban Core Support Network
1998 Development Phase
1999 First business loan
2000 Incorporation
2001 Charitable Status
2002 Evaluation
2003 Vision
2004 Shelter Loan
2005 Financial Literacy Training Added
2007 Affordable Housing and Real Estate Investment
2008 Neighbourhood Leadership (Power Up) Training
2009 Youth Entrepreneurship (YES) Training
2009 Asset Building Training and Matched Savings
2010 Enterprising Women Training
2010 First NPO Loan
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The Loan Fund delivers loansto people living in poverty.
• 50% are working poor • 50% are receiving government assistance• 60% of loans go to women• 95% of training participants are women
Target
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• Promote community investing
Which is converted to:
• Loans
• Training
• Housing Development
• Enterprise Development
• Matched Savings
Products and services
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I wish I had taken this course years ago.
Money Matter$ students
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I bike to work, thanks to the Loan Fund
Will Belzil
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Our experience with the SJCLF has been all positive. They helped us in being able to move to a healthier place for our family. Pamela Crockett & Clifford LeBlanc
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Welcome new beginnings and advocate for their rights
Social Development
voice
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Enterprising Women
– Train women to develop business plans– Launch businesses– Provide ongoing follow-up
– National project with funding from Canadian Women’s Foundation
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Operating Revenues
38% Contracts
17% Non-corporate foundations
15% Corporations and their foundations
15% Government grants
9% Social enterprise
8% Misc. including interest
Loan Pool
100% non-government
investments or donations
Loan Loss Reserve
100% non-government
donations or fees
Capital
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Greeting cards
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1
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
Series1
Series2
Series3
Series4
Series5
Series6
Series7
Greeting Card Sales 2003-2009Raises Close to $70,000
Thank You HDC
We’d been located on the 3rd floor of the Market with our partner, the Human Development Council for 10 years
right here
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To this! Yikes…
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Enterprising Non Profits
• Coverdale Centre for Women
• Housing Alternatives
• Stella Bury Community Services, St. John’s
• Centre for Social Innovation, Toronto
Recent research in Atlantic Canada
How much will you require to finance you’re expansion/new venture?
0.0% 5.0% 10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
Less than $20,000
$20,000 - $49,999
$50,000 - $99,999
$100,000 - $499,999
$500,000 or more
% of respondents
• 42% of those surveyed plan to start a new social enterprise
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Policy Recommendations
• loan-security program for SEOs
• regional loan pooling and a government guarantee
• Tax incentives to leverage investment
• support feasibility studies on SEO business plans and should fund ‘proof of concept’
Provincial governments should consider the following to support growth in social enterprise:
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Our Next Project
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Enterprising non-profits
Mixed Housing
Café?
Challenges and recommendations
• Fee for service that pays total cost• That recognizes overhead cost• For hiring skilled staff
• For ongoing staff development• For research and development (innovation)• For evaluation
• Flexibility to recognize value in combining building uses
• Tax incentives to raise more private capital• Guarantee to enable longer term investments
Capacity $
Revenue $
Investment $
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Innovation
Innovation is about being more effective and efficient in providing goods and services and about finding creative ways to address social and economic problems faced by individuals and communities.
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Thank You!
For more information:www.loanfund.ca
www.accse.ca http://seechangemagazine.ca/
Mission, Inc.: The Practitioner's Guide to Social Enterprise
To contact Seth Asimakos:[email protected]
Social Enterprise and Housing
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