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Creative Funding Models

Creative Funding Models. Goal of Panel Discussion: To build awareness of three creative funding models. Panelists. Regional Community Foundation Model Joedy Hightower – President/CEO - Southeastern Illinois Community Foundation Co-operative Model

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Creative Funding Models

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  1. Creative Funding Models Goal of Panel Discussion: To build awareness of three creative funding models

  2. Panelists • Regional Community Foundation Model Joedy Hightower – President/CEO - Southeastern Illinois Community Foundation • Co-operative Model Edward VanHoose - Association of IL Electric Cooperatives • Earned Revenue Model Gail Rost – Executive Director - Champaign Urbana School Foundation/General Manager of the I.D.E.A Store

  3. Why think about cultivating community philanthropy as a source of funding? • Communities need to move away from a culture of dependency toward self-reliance based on local assets.  • Community philanthropy is a tool for community capacity building and improvement. • Community philanthropy is a tool for building individual skills and confidence that can be translated into all forms of community development. • Community philanthropy must be inclusive and must be geared to motivate and engage the broader community. • Of the 200 new projects in the nation that have over200 jobs have over 35,000 economic development groups chasing them!

  4. Developing community philanthropy using a regionalcommunity foundation/affiliate model • Southeastern Illinois Community Foundation assists rural communities without the resources to establish a stand alone community foundation in building permanent resources to benefit their hometown. • Southeastern Illinois Community Foundation is a collaborative structure that has the capacity to enhance the quality of life in small rural communities in the region. • Rural communities to take advantage of the back-office administrative structure while focusing on developing local resources to benefit a specific community, county, or project .

  5. Local Affiliate Roles

  6. Southeastern Illinois Community Foundation Assets under Management $5.5 Million Number of Funds 85 Counties Served: Clark, Clay, Coles, Crawford, Cumberland, Effingham, Fayette, Jasper, Lawrence, Richland and Shelby. • Funds/Grants Supporting: Altamont, Beecher City, Casey, Dieterich, Effingham, Mattoon, Olney, Palestine, Sigel, Shumway, Stewardson, Strasburg.

  7. Benefits of an affiliate fund partnership • Local Control • Nonprofit Status • Lower Cost of Administrative Services • Lower Cost for Investment Services • Gift Planning Assistance • Compliance with national/state ethical and operational standards • Peer Learning Network • Marketing, Communications and Web site

  8. Cooperative Model Insert slides here

  9. Clarifying the Earned Income/Social Enterprise Concept

  10. What is Social Enterprise? • Social enterprises harness the power of the marketplace to solve critical social or environmental problems • They use a business model to solve a social problem • Business models include: • retail, service and manufacturing businesses that help people overcome employment barriers; • contracted providers of social and human services; • fee-based consulting and research services; • community development and financing operations; • technology enterprises. Source: Social Enterprise Alliance (SEA)

  11. Motivation • What is yours? • Why do you want to start a social enterprise? • Do you know enough about social enterprise? • Business as the vehicle for social impact • Strategy to reduce dependence on charitable donations • Desire to improve the common good and solve a social problem in a new, more lasting and effective way than traditional approaches • Mission match

  12. Social enterprise (nonprofit ventures) • Income-generating entity that produces goods or services to achieve social mission • Reinvest profits into the business to achieve social aims • Many legal forms: • 501c3 – Nonprofit, TEK • Cooperatives • Social purpose business • L3C – Low Profit, Limited Liability Corporation • LLC - Limited Liability Corporation • Benefit Corp.

  13. Champaign Urbana Schools FoundationDBA The I.D.E.A. Store Goals • provide a clearinghouse/warehouse to accept “discarded reusable” materials • provide community members of all ages with access to challenging materials and creative ideas for their re-use • generate revenue for the Champaign-Urbana Schools Foundation • foster new constituencies supporting the CUSF mission • educate citizens about the value of waste reduction, non-toxic alternatives, and smart design • provide volunteer service for all ages (including K -12 students) • promote “green business” practices.

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