SEDIF Impact Report 2014 - Foresters Community Finance

Transcription

2014
SEDIF IMPACT
REPORT
Foresters Community Finance
1
2014 SEDIF Impact Report
Table of Contents
Introduction ............................................................................................................................................2
A Snapshot .............................................................................................................................................2
Investment Impact as at 30th June 2014 ................................................................................................3
Social Impact of Each Fund ...................................................................................................................6
Impact Reporting and Investment Standards (IRIS) ..............................................................................8
Category...........................................................................................................................................8
IRIS metric .......................................................................................................................................8
Data ..................................................................................................................................................8
Impact Mapping ....................................................................................................................................9
Investment Profiles ...............................................................................................................................9
Investment Profile – Connect Housing Group Ltd .............................................................................11
Investment Profile – Sydney Theatre School .....................................................................................13
Investment Profile – Imagehouse Youth Assistance (IHYA) .............................................................15
Investment Profile – Munch Crunch Organics Pty Ltd ......................................................................17
Investment Profile – Queensland Writers Centre Association Incorporation ..................................19
Investment Profile – Y-Generation Against Poverty Ltd ....................................................................21
Investment Profile – The Bounce Company Limited..........................................................................23
Investment Profile – Calantha Wardrobe Pty Ltd ...............................................................................25
Investment Profile –Human Ventures Limited ....................................................................................27
Investment Profile –Schoolhouse Studios Inc ...................................................................................29
Investment Profile – Enable Social Enterprises Ltd...........................................................................31
Investment Profile – Calantha Wardrobe Pty Ltd ...............................................................................33
Investment Profile – Disability Advocacy and Information Service Inc (DAIS) ................................35
Investment Profile – Enable Social Enterprises Ltd...........................................................................37
Investment Profile – Maths Pathway Pty Ltd ......................................................................................39
Investment Profile – Bread and Butter Project ...................................................................................41
Investment Profile – Habitat for Humanity SA ....................................................................................43
Social enterprise Case Studies ...........................................................................................................45
1.
Brian Potts, Imagehouse Youth Assistance Founder ...................................................................45
2.
Alasdair Smithson, Munch Crunch Organics Founder ..................................................................46
2
Introduction
As Foresters Social Enterprise Development and Investment Fund (SEDIF) loan portfolio grows, with
some social enterprises repaying loans for more than one to two years, outcomes and impacts are being
evidenced as social enterprises realise the benefits of accessing finance. As at 30th June 2014 there
have been 24 loans made to social enterprises in Australia through our funds and Foresters has
commenced tracking the outcomes of 20 of these.
Foresters has identified that finance can have a direct impact on a
social enterprise through assisting it to – Get started (Business Startup), To expand (Business Expansion) or To maintain its business
(Business Maintenance). These are the outcomes that can be
attributed to accessing a loan.
There are specific indicators that can inform this change. Foresters has started to shape an outcomes
framework that will better communicate the impact that finance has had for social enterprises. This report
begins to capture some of that information. To refine the methodology Foresters would like to further
develop a set of standard indicators to be applied across all loans to map outcomes and impacts.
The information provided in this report reflects the ways that outcomes and impacts have been collected
to date.
A Snapshot
The following information reflects activity that has happened for social enterprises as a result of
accessing a loan and does not incorporate their usual business activity. Detailed impact per investment
can be found in the Impact Investment table below.
SOCIAL
INVESTMENT
10 new social enterprises started
Training and Employment
Business improvement and expansion
for 15 social enterprises
Regional
103 training and employment
opportunities
Outcomes and opportunities for 191
artists
Affordable home ownership and
housing for 10 families
Indigenous
Arts
Housing
Newly established social
enterprises
Disability
© Foresters Community Finance, 2014
$558,900
$1,439,000
$853,000
$1,137,000
$815,000
$723,900
$210,000
3
th
Investment Impact as at 30 June 2014
Name
Location 1
Location 2
Sector/ Industry
Objective/
Description
Primary Social
Aim
State or
territory
Capital City,
Regional,
Remote
Eating Disorders Victoria
VIC
Major City
Health
People with
mental illness
Universal Village Pty Ltd
VIC
Major City
Fair Trade
General
Community
Indigenous Consumer
Assistance Network (ICAN)
QLD
Outer Regional Financial Services
Brief overview of the organisation.
An eating disorder support and advocacy
group which provides counselling, a
reference library, a phone help line, online
support services and prevention orientated
education services.
Small retail/wholesale business distributing
fair trade foods and beverages and
increasing awareness of fair trade goods to
Australian public
Indigenous
People
Amount
Investment Purpose
Intended Investment Impact
What the loan will be used for.
Qualitative and quantitative information on the organisational
Actual impact achieved through the investment, including any
impact of the loan on the social enterprise, and the social impact secondary effects which are identified.
achieved through the social enterprise’s improved operations.
$75,000 Eating Disorders Victoria is using the loan to start a fee for
service counselling program that will generate income for the
organisation.
$35,000 Universal Village is using the loan to finance the point of sale
promotion of their fair trade Qi Tea in Woolworths, and to
increase awareness of fair trade goods and increase employment
in Australia.
$630,000 Place and space for the establishment of social enterprise
programme designed to assist indigenous consumers
An additional 840 sessions of early intervention and ongoing
support for people with eating disorders
The social enterprise has serviced 115 new clients and delivered
885 counselling sessions. Five staff are employed at EDV
Psychology.
The increase of awareness of fair trade goods in Australia and
the employment of more Australians.
Business and product expansion.
The establishment of financial services microfinance for
indigenous individuals in the Far North Queensland region.
Since the loan to purchase property and consolidate its
operations, ICAN has been able to integrate its service delivery.
Since this point it time it has been able to train 10 new financial
counsellors. It is the largest employer of Indigenous financial
counsellors in Australia. ICAN has also drafted an agreement to
set up its micro-credit social enterprise.
Working within the National Indigenous
Consumer Strategy, ICAN seeks to improve
the outcomes for indigenous consumers by
providing assistance to alleviate consumer
detriment, education to make informed
consumer choices and advocacy to highlight
consumer disadvantage.
Artery Co-operative
VIC
Major City
Culture and
Recreation
Better Life Communications
VIC
Major City
Habitat for Humanity SA
Limited
SA
Major City
Connect Housing (formally
known as Mackay Regional
Housing)
QLD
Inner Regional
Sydney Theatre Management NSW
Pty Ltd
Major City
Imagehouse Youth
Assistance Inc
Major City
QLD
Actual Investment Impact
$732,515 Certainty of place and space will allow Artery to maintain its core Maintaining the provision of affordable and professional space for Since the loan 50 artists have more stability of professional and
mission of providing appropriate and affordable space for artists, 50 artists in city fringe Melbourne, an area important to their
affordable studio space.
otherwise at risk in fluctuating rental markets. The investment
work.
also strengthens the organisation financially.
Trade and Industry
Arts and Cultural Artist/member run initiative providing
Community
appropriate studio space to professional
artists in city fringe Melbourne. Artery seeks
to foster a vibrant artistic community through
its establishment.
Disadvantaged BLC is a start-up social enterprise, that
Men and
aims to provide affordable access to mobile
Women
phone communication, and ethical mobile
phone plans to financially disadvantaged
Australians. Their partners include Reclink
Australia, Centrelink and Optus.
Development and
Housing
General
Community
$140,000 Business development to secure land from Housing Trust South
Australia to develop 3 homes for partner families. The funds will
then be recycled to facilitate further land acquisitions and
development by the organisation.
Habitat for Humanity SA (HFHSA) is a nonprofit organisation concerned with the
elimination of poverty and the human right to
shelter. HFHSA constructs and develops
homes for low income partner families in
South Australia, utilising strong partnerships
with volunteers, the families themselves and
state government.
Development and
Homeless
A non-profit housing organisation tasked
Housing
People
with providing social and affordable affordable
housing in the Mackay region. The
development of 4 units of affordable housing
in the form of a quadplex.
Culture and
Arts and Cultural A Registered Training Organisation (RTO)
Recreation
Community
and Arts Institute which provides practical
teaching that’s production-based by design
and industry-driven by nature to students
interested in careers in dramatic arts and
theatre.
Employment/Social Young People
Custom made furniture business that
Service - Youth
teaches young men the art and business of
carpentry and trade, as well as providing life
skills training, and connecting them to
services depending on their needs.
$52,000 Business development to secure a contract with Optus and
commence trading activity as a social enterprise.
Ethical and affordable mobile phone plans to financially
disadvantaged Australians, primarily clients of community
service organisations and as an option for Australia's 5 million
health care card holders, through a relationship with Centrelink.
978 low income/disadvantaged Australians now have access to
affordable and accessible mobile phone communication. BLC
has also employed 1 additional person.
Immediate outcomes of the loan are the 3 new homes available
to low income/disadvantaged families . Loan funds will then be
recycled to assist in the purchase of land and construction of
new homes.
Since accessing finance 3 low income/disadvantaged families
have home ownership.
$675,000 Construction facility to enable MRHC to established 4 additional 4 additional units of NRAS housing made available in Mackay.
units of NRAS housing in Mackay.
This meets a high demand for affordable housing in an area
where mining activity has seen rents increase.
Build of 4 additional affordable housing stock, and housing
outcomes for 4 families low income/disadvantaged individuals. A
total of 6 adults and 5 children live in the units.
$80,000 Business development– Stage lighting and refurbishment of
theatre
Modern and theatre and equipment to facilitate a better learning
environment for students.
Since accessing finance the school has trained an additional 34
students. With another 70 applications pending the school needs
to expand its space to take on more students.
$60,000 Business Development to purchase tools and other equipment
for the young men.
Young men have the opportunity to be engaged in the business
with their own equipment and invest their efforts into making
custom pieces of furniture, along side learning life skills.
Since accessing finance to purchase additional equipment, 17
young men have completed the training and employment
program. The business has also expanded as a result.
4
Name
Location 1
Location 2
Sector/ Industry
Objective/
Description
Primary Social
Aim
Munch Crunch Organics Pty
Ltd
NSW
Inner Regional
Trade and Industry
Specific
Geographic
Community
To create and grow organic community
supported agriculture systems that
regenerate the land and provide healthy food.
To create a social enterprise food model that
supports organic farmers by connecting
them directly to local consumers.
$30,000
Queensland Writers Centre
Association Incorporated
QLD
Major City
Culture and
Recreation
Arts and Cultural
Community
QWC is an incorporated association whose
vision is to ensure more Australian writers
have sustainable careers and read and enjoy
throughout the world. QWC supports the
practice and development of writers, to
advance their recognition and opportunities
nationally and internationally and to nourish
a vibrant writing culture in Qld.
$35,000
Y-Generation Against Poverty VIC
Ltd
Major City
Development
Remote and
Rural
Communities
YGAP Ltd aims is to inspire young
professionals and social entrepreneurs to
end poverty. They drive social change
through the provision of youth education and
youth leadership. YGAP is funded through
social enterprise activity to support
poverty alleviating projects. YGAP also
mobilises and engages more than 300
volunteers towards social causes.
The Bounce Company Ltd
QLD
Regional City
Hospitality
People with
mental illness
Calantha Wardrobe Pty Ltd
VIC
Major City
Culture and
Recreation, Trade
and Industry
Indigenous
People
Bounce Company Ltd is a café social
enterprise which employs, supports and
trains people with a mental illness.
Employees are either employed to transition
to mainstream employment or on a long
term basis.
Calantha Wardrobe works with Indigenous
artists and communities, making their art
work accessible through ethically made
fashion.
Human Ventures Limited
QLD
Major City
Culture and
Recreation
Indigenous
People; Young
people
Schoolhouse Studios Inc
VIC
Major City
Culture and
Recreation
VIC
Major City
Culture and
Recreation
Human Ventures Ltd is a Brisbane based
creative and social enterprise. Human. uses
creative practice to create community
development outcomes in partnership with
youth, indigenous communities and people
experiencing homelessness.
Arts and Culture Schoolhouse Studios provide affordable
Community
studio spaces to artists and designers. Their
goal is to foster a vibrant creative community
under one roof where ideas and knowledge
are shared and built on.
Arts and Culture Schoolhouse Studios provide affordable
Community
studio spaces to artists and designers. Their
goal is to foster a vibrant creative community
under one roof where ideas and knowledge
are shared and built on.
Amount
Investment Purpose
Increased knowledge and uptake of organic produce and food,
increased distribution of locally sourced organic food in the
Byron Bay, Gold Coast and Brisbane region, growth of organic
To purchase a second hand ute with a purpose built cool room to
farmers engagement in the local community, decreased food
support their business expansion into the Brisbane region, as
mile that produce travels,
well as other marketing activities.
QWC secured community finance for the upgrade and
maintenance of the Australian Market Place (AWM) Online
platform which is a cultural enterprise.
$130,000 YGAP secured community finance for the refurbishment and fit
out of Fest of Merit social enterprise restaurant.
Accessing finance has allowed for Improved product delivery
which has increased customer retention by approximately 23%.
Munch Crunch has also employed one additional staff member.
To provide a more efficiency and effective digital platform for
The loan has allowed QWC to expand it’s social enterprise. It
Australian writers to access information on The Australian
has launched new products and a learning program for writers.
Market Place Online (AWMonline). Greater access to Australian
writers as AWMonline is a digital platform converted from the
print edition.
The Feast of Merit (FOM) social enterprise restaurant will
generate profits that will be distributed to projects that will help
end poverty. Additionally, FOM will activate a group of social
entrepreneur volunteer to help end poverty.
Within its first 6 months of operations the restaurant has
generated surpluses that will be distributed to various projects
targeted at poverty alleviation. The new restaurants also employs
38 individuals.
With the increase in sites from one to three, Bounce will now
have the capacity to deliver increased training and employment
outcomes for people with a mental illness in Regional
Queensland.
Since accessing finance to establish 2 new sites, one site is
fully operational and all together 11 people are employed. Four of
these indviduals have a disability.
The creation of a new fashion collection will mean that Calantha
Wardrobe can work with an increased number of Indigenous
artists. This collection also means a broader market reach for
the business, and additional royalties to indigenous artists.
Increased market reach furthers the capacity and profile of the
business and artists work.
The investment in Human's enterprises will not only increase the
creative enterprise's income, but also increase the impact of its
non-profit activities in remote indigenous communities.
Using the loan to create a new collection, Calantha worked with
an additional 14 Indigenous artists from 2 communities. This loan
also catalysed a contract with international buyers
Anthropologie.
$30,000 To construct pop up/demountable studio spaces, in a newly
established long-term leased premises. This demountable can
be taken to other sites meaning Schoolhouse does not loose
their investment in the fit out.
The investment will allow Schoolhouse to complete the
construction of the studio spaces and move 62 artists into the
site. This is the first time Schoolhouse has operated on this
scale.
Since accessing finance to construct studio spaces, 90 artists
now have access to affordable studio space hire.
$40,000 To construct pop up/demountable studio spaces, in a newly
established long-term leased premises. This demountable can
be taken to other sites meaning Schoolhouse does not loose
their investment in the fit out.
The investment will allow Schoolhouse to complete the
construction of the studio spaces and move 62 artists into the
site. This is the first time Schoolhouse has operated on this
scale.
As above
$103,900 To refurbish and fit out two additional café sites in Toowoomba.
$55,000 To create a new fashion collection with Indigenous art for local
buyers (e.g. David Jones) and international buyers (e.g.
Anthropologie)
$100,000 To invest in the growth of Human's two social enterprises,
Lowercase and Human Creative. The enterprises provide artistic
and employment outcomes in the community, as well as an
important source of income for the organisation.
Successful business turnaround and continuity. Maintained
employment of 13 individuals.
5
Name
Location 1
Location 2
Sector/ Industry
Objective/
Description
Primary Social
Aim
VIC
Major City
Culture and
Recreation, Trade
and Industry
Indigenous
People
fashion.
VIC
Major City
Culture and
Recreation, Trade
and Industry
Indigenous
People
fashion.
Disability Advocacy and
VIC
Information Service Inc (DAIS)
Inner Regional
Law, Advocacy and People with a
Politics
Disability
Enable Social Enterprises Ltd VIC
Major City
Employment, Trade Disadvantaged
and Industry
Women and
Men
MathsPathway
Major City
Education and
Research
VIC
Bread and Butter Project
NSW
Major City
Hospitality
Limited
SA
Major City
Development and
Housing
DAIS, incorporated since 2000, is a
disability advocacy service located in
Wodonga/VIC. DAIS provide information and
research, advocacy services, planning and
development, and education programs to
individuals and the communities it works
with.
Enable provides employment and training
opportunities for disadvantaged job seekers
in Hume. Enable will achieve this primarily
through the development of an online eBay
store, and work and learning space with pick
and pack procurement opportunities.
Young People
MathsPathway Pty Ltd is an emerging
social business with a mission to increase
the level of numeracy in Australian school
children, and importantly contribute to the
professional development of, and create
continued avenues for the provision of peer
to peer support for mathematics teachers
nationally.
Migrants/Refuge The Bread and Butter Project (BBP) is a
es/Asylum
wholesale artisan bakery operating as a
Seekers
social enterprise providing training and
pathways to employment for refugees and
asylum seekers. The traineeship lasts for 12
months and provides both immediate
employment and pathways to future
employment in artisan baking and hospitality
industry. BBP was founded by the bakers
who established Bourke Street Bakery and
Central Baking Depot.
General
Habitat for Humanity SA (HFHSA) is a nonCommunity
profit organisation concerned with the
elimination of poverty and the human right to
shelter. HFHSA constructs and develops
homes for low income partner families in
South Australia, utilising strong partnerships
with volunteers, the families themselves and
state government.
Amount
Investment Purpose
$60,000 Realising the benefits of the previous loan funds Calantha
Wardrobe has initiated a relationship with international buyer
Anthropologie. This loan is to fulfil the first contract order
The investments enables Calantha Wardrobe to fulfil contract
commitments exposing the work of Indigenous artists on an
international scale, increasing revenues and thus royalties to
artists and generally growing the business.
Using the loan to create a new collection and action the new
contract with international buyer Anthropologie, Calantha worked
with an additional 3 Indigenous artists from 3 communities.
Calantha is also expanding its business.
$48,000 Top up to fulfil an additional order from new international buyer
Anthropologie.
As above and increasing the volume of royalties to Indigenous
artists.
As above.
$210,000 DAIS has outgrown its current premises and hence the new
The investment enables DAIS to own an asset/place and space
premises is to extend and house its services. Additionally DAIS to extend its services, and leverage the assets in the future to
has identified that with changes through NDIS, they need to look generate income to reinvest back into its services.
to ways of generating income and hence its plans to develop part
of the property in the future, for meeting room space to hire out
to community groups, creating a community hub.
$35,000 Start-up capital to set up the new business, including
development of a website and equipment purchase.
$100,000
This will be recorded in the future once the loans have an impact.
Sufficient funds to set up the business and commence trading
activity and achieve employment outcomes for disadvantaged job
seekers.
Increased numeracy in students across Australia.
MathsPathway will also provide support, training and professional
development for Maths teachers, increasing capability and
MathsPathway sought community finance to invest in a full time
capacity of schools to deliver effective outcomes for students
business development manager to drive business growth in this
struggling with maths.
early stage and consequently increase contract revenue. The
key to expanding their revenue base will be to establish
relationships outside of their home state, Victoria.
$150,000 Bread and Butter Project secured community finance for the
growth of the social enterprise to the next stage of development.
They purchased baking equipment to help them expand their
enterprise and create business synergies and efficiencies.
The community finance will allow Bread and Butter Project to
grow their bakery enterprise, increase their bakery items (bread,
brioche, baguettes etc.) while also increasing employment and
training opportunities for refugees and migrants.
$110,000 Business development to secure land from Housing Trust South
Australia to develop 3 homes for partner families. The funds will
then be recycled to facilitate further land acquisitions and
development by the organisation. Existing facility with Foresters
has been refinanced to create one facility.
Immediate outcomes of the loan are 3 new homes available to
low income/disadvantaged families . Loan funds will then be
recycled to assist in the purchase of land and construction of
new homes.
Since accessing finance 3 low income/disadvantaged families
have home ownership.
6
Social Impact of Each Fund
The social impact of each fund up to 30th June 2014 has grown in line with investments delivered during
the financial year. In total 24 investments to the value of $3,716,415 in community finance was delivered
into the social enterprise sector. There were nine (9) loans from the Community Finance Fund – Social
Enterprise totalling $2,755,515, and eleven (11) loans from the Social Enterprise Finance Fund totalling
$805,900.
Additionally, the Early Stage Social Enterprise Fund (ESSEF) was established, with four (4) loans made
to the value of $155,000.
To date, Foresters has committed to measuring social impact in the following ways:
Methodology
Purpose
Application
Progress
IRIS
The Impact Reporting and
Investment Standards (IRIS) is a
set of metrics that can be used to
measure and describe an
organisation's social,
environmental and financial
performance. (GIIN Website)
IRIS metrics have
been adopted as a
set of descriptors
related to the social
enterprises in which
investments are
made. In total 42 of
the IRIS metrics are
in use. The metrics
are collected
throughout the due
diligence process
and are stored in our
Customer
Relationship
Management
software which has
been customised to
record the data.
IRIS data has
been collected
at settlement
of each
investment.
The metrics will be
used within the
reporting framework
described below and
data will be updated
on an annual basis.
At key points
during the life
of the loan
data will be
collected and
reviewed. Over
time the data
may evidence
organisational
change. This
change may or
may not be
attributed to
the loan. As
such this data
will not be
interpreted in
isolation of
other methods
of impact
reporting.
7
Methodology
Purpose
Impact Mapping
The purpose of impact mapping is
to frame a “results chain” or a theory
of change that connects the things
done (outputs) with the desired
changes (outcomes) and the effects
these changes have (impact).
Impact mapping is beyond simple
descriptors and requires an
analytical or evaluative approach to
understanding if what Social
Enterprise Solutions does, makes a
difference to the financial and social
imperatives of the social
enterprises, and in turn if one of the
impacts of this is the extension of
the enterprises’ social reach.
Application
Impact mapping is
being used on both
the demand and
supply side of our
work to help us to
frame a set of
changes against
which we will
measure our impact
over time.
Progress
Data continues
to be collected
on this front.
The “theory of
change” tables
included in this report
outline the extent of
this work to date.
The process of
defining the
indicators that will act
as a measure for the
changes is underway
at the time this report
was being written.
Part of this reporting
may include a Social
Return on Investment
(SROI) analysis.
Over the course of
the investments,
measurement of
change will be
reported and is
expected to be
reported on in the
next year.
Investment Profiles
Adapted from the Global Impact
Investment networks case studies.
Please see
http://www.thegiin.org/cgibin/iowa/resources/profile/index.html
Investment profiles
will contain some of
the data outlined
above and will be
used to profile every
investment made
through the fund now
and over time. An
example of an
Investment profile is
provided below.
An investment
profile is
complied for
each client.
Investment
profiles for the
reporting
period are
included in the
Impact Report.
8
Methodology
Purpose
Application
Case Studies
Case studies provide a vehicle for
story telling through the voice of the
social enterprise.
Progress
Case studies will be
used from time to
time to highlight
outcomes and
impacts. Social
Enterprise Solutions
will follow a template
approach to the
collection of these
case studies. Some
of the case studies
will focus on
investment outcomes
and others will focus
on examples where
investment could not
be made.
Case studies
and stories
have been
collected for
various clients
who have
settled during
the reporting
period.
Storytelling will
be a continued
focus in
Foresters’
method of
communicating
its social
impact.
Collecting data, measuring outcomes and reporting impact is an iterative process and dependent upon
the perspectives and knowledge at the time the framework is defined. Because of this, the outcome
areas are broad and will be refined to include sub-outcomes over time and in line with the details specific
to each investment we make. Further, impact measurement is time reliant and therefore the depth and
quality of reporting will change as the years of investment progress.
Impact Reporting and Investment Standards (IRIS)
Impact Reporting and Investment Standards (IRIS) metrics have been adopted as a set of descriptors
related to the social enterprises in which investments are made. In total 42 of the IRIS metrics are in use.
The metrics are used within the reporting framework described above and data is updated on an annual
basis. As at the 30th June, 2014 the IRIS metrics for the 24 loans that have settled are detailed below:
Category
IRIS metric
Data
Geographical
Location
Major city
19
Inner Regional
4
Outer regional
1
0-4 employees
13
Total Employees
9
Category
Turnover
Loan Purpose
IRIS metric
Data
0-19 employees
9
Volunteer run
2
Less than $250,000
10
Between $250,000 - $1,000,000
4
Between $1,000,000 - $5,000,000
10
Building and Land Purchase
5
Business Development
19
Impact Mapping
Impact mapping is being used on both the demand and supply side of Foresters work to help us to frame
a set of changes against which we will measure our impact over time. The purpose of impact mapping is
to frame a “results chain” or a theory of change that connects the things done (outputs) with the desired
changes (outcomes) and the effects these changes have (impact).
Over the course of the investments, measurement of change will be reported and is expected to be
reported on in the next year. The measurement of change has not been reported on this year because
the timeframe is still too short. This measurement becomes meaningful once the investments have had
time to create an impact in the community.
Investment Profiles
Below are the investment profiles for the year ended 30th June 2014. Investment Profiles for the previous
year can be found in the last SEDIF Impact Report. Investment Profiles have been provided for:

Connect Housing

Sydney Theatre Management

Imagehouse Youth Assistance

Munch Crunch Organics

Queensland Writers Centre Association

Y-Generation Against Poverty

The Bounce Company

Calantha Wardrobe x2

Human Ventures
10

Schoolhouse Studios

Disability Advocacy and Information Service

Enable Social Enterprises

MathsPathway


11
Investment Profile – Connect Housing Group Ltd
Community
Finance - Social
Enterprise
Connect
Housing Group
Housing
Investor
Name
Community Finance Fund – Social Enterprise
Investor Description
The Community Finance Fund – Social
Enterprise provides investors with an opportunity
to invest in Social Enterprise across Australia.
The fund focusses on providing loans that
support social enterprise acquire property assets
for social purpose.
Investee
Name
Connect Housing Group Ltd
Sector
Development and Housing
Geography
Mackay, QLD
Investee Overview
Connect Housing exists to provide affordable
housing to those in need in Mackay. This includes
low income households, people with specific
needs, households in housing stress, households
denied access to general market housing and
households requiring a subsidised housing
solution.
Attractiveness for Investment
Connect Housing secured community finance to
construct four units of affordable housing in the
form of a quadplex in Mackay.
Instrument
Debt
Investment Impact Objectives
Increased awareness of an alternative source of
capital
Improved sophistication in the business case
Extended capacity to deliver on vision and
mission
12
Investment
Investment Structure
Managed Investment Fund
Investment Size
$675,000
Source of the Deal
External Referral
Stage of Company at time of Investment
Start up, less than 5 years
Purpose of Investment
Construction of affordable housing
Investment Term
15 years
13
Investment Profile – Sydney Theatre School
Social
Enterprise
Finance Fund
Sydney Theatre
School
Business
Development
Investor
Name
Social Enterprise Finance Fund (SEFF)
The Social Enterprise Finance Fund provides investors
with an opportunity to invest in Social Enterprise across
Australia. The fund focusses on providing loans that
support the growth and development of social
enterprises.
Investee
Name
Sydney Theatre Management Pty Ltd t/as Sydney
Theatre School (STS)
Sector
Culture and Recreation
Geography
Sydney, NSW
Investee Overview
STS was incorporated on the 13 January 2005 and is a
Private Company Limited by Shares.
STS secured community finance for the refurbishment
of a community theatre space from their premises in
Chippendale, Sydney.
Instrument
Debt
Increased awareness of an alternative source of capital.
Investment
Investment Size
$80,000
Source of the Deal
Internal Referral
Established < 5 years
14
Investment
Investment Term
5 years
15
Investment Profile – Imagehouse Youth Assistance (IHYA)
Social
Enterprise
Finance Fund
IHYA
Business
Development
Investor
Name
The Social Enterprise Finance Fund provides investors
with an opportunity to invest in Social Enterprise across
Australia. The fund focusses on providing loans that
enterprises.
Investee
Name
Imagehouse Youth Assistance Inc (IHYA)
Sector
Employment & Social Services
Geography
Beenleigh, QLD
Investee Overview
Custom made furniture business that teaches
young men, from disadvantaged backgrounds the
art and business of carpentry and trade, as well as
providing life skills training, and connecting the
young men to services depending on their needs.
IHYA provides young disadvantaged men with the
opportunity to be engaged in community in a positive
way through fulfilling work. IHYA need finance to
purchase tools equipment to meet business and
employment needs.
IHYA could not access mainstream finance.
Instrument
Debt
Increased awareness of an alternative source of capital
Increased financial capacity and capability to deliver on
vision and mission.
Investment
16
Investment
Investment Size
$60,000
Source of the Deal
Media
Start-up
Investment Term
5 years
17
Investment Profile – Munch Crunch Organics Pty Ltd
Early Stage
Social
Enterprise Fund
Munch Crunch
Organics Pty Ltd
Business
Development
Investor
Name
Early Social Enterprise Finance Fund (ESEFF)
The Early Social Enterprise Finance Fund provides
investors with an opportunity to invest in early stage
social enterprise across Australia. The fund focusses
on providing tailored loans that support the growth of
early stage social enterprises.
Investee
Name
Munch Crunch Organics Pty Ltd (MCO)
Sector
Trade and Industry
Geography
Byron Bay, NSW
Investee Overview
Munch Crunch Organics Pty Ltd (MCO) mission is to
create and grow organic community supported
agriculture systems that regenerate the land and
provide healthy food. Furthermore, they want to create a
social enterprise food model that supports organic
farmers by connecting them directly to local consumers
MCO was incorporated on the 1st of July 2008 and is
an Australian Proprietary Company, Limited By Shares.
Munch Crunch Organics secured finance for a second
hand vehicle with a purpose built cool room to support
their business expansion into the Brisbane region, as
well as other marketing activities.
MCO could not access other alternative sources of
capital or mainstream finance.
Instrument
Debt with a 35% balloon payment.
Increased awareness of an alternative source of capital.
Increased financial capacity and capability Improved
sophistication in the business case
18
Investment
Investment Size
$30,000
Source of the Deal
Grow Social Enterprise Campaign
Early stage – 5 years
Business Development: purchase of a second hand
vehicle with a purpose built cool room and marketing
activity
Investment Term
4 years
19
Investment Profile – Queensland Writers Centre Association
Incorporation
Social
Enterprise
Finance Fund
Queensland
Writers Centre
Association
Incorporation
Business
Development
Investor
Name
The Social Enterprise Finance Fund provides
investors with an opportunity to invest in Social
Enterprise across Australia. The fund focusses
on providing loans that support the growth and
development of social enterprises.
Investee
Name
Queensland Writers Centre Association
Incorporated (QWC)
Sector
Geography
Brisbane, QLD
Investee Overview
QWC’s vision is to ensure more Australian writers
have sustainable careers and read and enjoy
throughout the world. QWC supports the practice
and development of writers, to advance their
recognition and opportunities nationally and
internationally and to nourish a vibrant writing
culture in Qld.
QWC was incorporated on the 26 June 1990 and
is an Incorporate Association.
QWC secured community finance for the upgrade
and maintenance of the Australian Market Place
(AWM) Online platform which is a cultural
enterprise.
Instrument
Debt
capital.
Increased financial capacity and capability to
deliver on vision and mission.
20
Investment
Investment Size
$35,000
Source of the Deal
Internal Referral
Established, more than 10 years
Business Development: upgrade and
maintenance of cultural enterprise website AWM
online
Investment Term
3 years
21
Investment Profile – Y-Generation Against Poverty Ltd
Social
Enterprise
Finance Fund
Y-GAP
Business
Development
Investor
Name
Investee
Name
Y-Generation Against Poverty Ltd (Y-GAP)
Sector
Aid and Development
Geography
Melbourne, VIC
Investee Overview
YGAP Ltd aims to inspire young professionals and
social entrepreneurs to end poverty. They drive
social change through the provision of youth
education and youth leadership. YGAP is funded
through social enterprise activity to support
poverty alleviating projects. YGAP also mobilises
and engages more than 300 volunteers towards
social causes.
YGAP secured community finance for the
refurbishment and fit out of Fest of Merit social
enterprise restaurant.
Instrument
Debt
capital
Investment
22
Investment
Investment Size
$130,000
Source of the Deal
Cold Call
Established, less than 10 years
Investment Term
5 years
23
Investment Profile – The Bounce Company Limited
Social
Enterprise
Finance Fund
The Bounce
Company
Limited
Business
Development
Investor
Name
Investee
Name
The Bounce Company Limited (Bounce)
Sector
Hospitality and Training
Geography
Toowoomba, QLD
Investee Overview
Bounce Company Ltd is a café social enterprise
which employs, supports and trains people with a
mental illness. Employees are either employed to
transition to mainstream employment (ILM) or on
a long term basis.
Bounce secured community finance for the
refurbishment and fit out of café sites at Bailey
Henderson Mental Health Facility and University
of Southern Queensland.
Instrument
Debt
capital
Investment
24
Investment
Investment Size
$103,900
Source of the Deal
External Referral
Investment Term
5 years
25
Investment Profile – Calantha Wardrobe Pty Ltd
Social
Enterprise
Finance Fund
Calnatha
Wardrobe
Business
Development
Investor
Name
Investee
Name
Sector
Culture, Recreation, Trade & Industry
Geography
Melbourne, VIC
Investee Overview
Calantha Wardrobe works with Indigenous artists
and communities, making their art work
accessible through ethically made fashion.
Calantha Wardrobe secured community finance to
design a new fashion collection with Indigenous
artists, for sale and distribution to current (local)
and new markets (international)
Instrument
Debt
capital
Investment
26
Investment
Investment Size
$55,000
Source of the Deal
External referral
Start-up
Investment Term
5 years
27
Investment Profile –Human Ventures Limited
Community
Finance Fund Social
Enterprise
Human
Ventures
Limited
Secured
Business
Development
Investor
Name
The fund focuses on providing loans that support
social enterprise acquire property assets for
social purpose or for business development
where there is security.
Investee
Name
Human Ventures Limited
Sector
Geography
Brisbane, QLD
Investee Overview
Human Ventures is a leading creative and social
enterprise which develops and implements
community programs and provide creative
services that enable people to make positive
change in their lives, and the lives of others. The
social enterprise works with marginalised
communities in Queensland, particularly
indigenous Australian youth.
Human Ventures accessed community finance to
allocate towards expanding their social enterprise
activity in the community. Their social enterprises
comprise of:
1. Lowercase – A youth focused social
enterprise which develops and provides
creative products and services – by and
for young people.
2. Human Creative – A social enterprise
which offers print, web and multimedia
design to connect people, information,
products and ideas in meaningful and
responsible ways.
28
Investee
The community finance will allow for working
capital and the allocation of human resources.
Instrument
Debt
capital
Investment
Investment Size
$100,000
Source of the Deal
External Referral
Established, more than 5 years
Investment Term
5 years
29
Investment Profile –Schoolhouse Studios Inc
Social
Enterprise
Finance Fund
Schoolhouse
Studios
Business
Development
Investor
Name
Social Enterprise Finance Fund (SEFF) and Early
Stage Social Enterprise Fund (ESSEF)
The Early Stage Social Enterprise Fund provides
investors with an opportunity to invest in early
stage social enterprise across Australia. The
fund focusses on providing tailored loans that
support the growth of early stage social
enterprises.
Investee
Name
Sector
Culture & Recreation
Geography
Melbourne, VIC
Investee Overview
Schoolhouse Studios provide affordable studio
spaces to artists and designers. Their goal is to
foster a vibrant creative community under one roof
where ideas and knowledge are shared and built
on.
Schoolhouse Studios secured community finance
to construct pop up/demountable studio spaces, in
a newly established long-term leased premises.
Instrument
Debt
capital
30
Investee
Investment
Investment Size
$70,000
Source of the Deal
External referral
Start-up
Equipment and refurbishment
Investment Term
5 years
31
Investment Profile – Enable Social Enterprises Ltd
Social
Enterprise
Finance Fund
Calnatha
Wardrobe
Business
Development
Investor
Name
Early Stage Social Enterprise Fund (ESSEF)
Investee
Name
Enable Social Enterprises Ltd
Sector
Employment, Trade & Industry
Geography
Broadmeadows, VIC
Investee Overview
design a new fashion collection with Indigenous
artists, for sale and distribution to current (local)
and new markets (international)
Instrument
Debt
capital
Investment
32
Investment
Investment Size
$60,000
Source of the Deal
External referral
Start-up
Business Development (short term supply
contract)
Investment Term
5 months
33
Investment Profile – Calantha Wardrobe Pty Ltd
Social
Enterprise
Finance Fund
Calnatha
Wardrobe
Business
Development
Investor
Name
(CFF-SE)
enterprises.
Investee
Name
Sector
Culture, Recreation, Trade & Industry
Geography
Melbourne, VIC
Investee Overview
fulfil a large international order for fashion
garments designed with the art work of
Indigenous artists, who will realise significant
royalties and international exposure of their work.
Instrument
Debt
capital
Investment
34
Investment
Investment Size
$48,000
Source of the Deal
External referral
Start-up
Investment Term
5 months
35
Investment Profile – Disability Advocacy and Information Service
Inc (DAIS)
Community
Finance Fund Social
Enterprise
DAIS
Property
Purchase
Investor
Name
Community Finance Fund Social Enterprise
(CFFSE)
enterprises through asset building.
Investee
Name
Disability Advocacy and Information Service Inc
(DAIS)
Sector
Law, Politics, Advocacy
Geography
Wodonga, VIC
Investee Overview
DAIS is an established disability advocacy service
located in Wodonga/VIC. It provides information
and research, advocacy services, planning and
development, and education programs to
individuals and the communities it works with.
DAIS outgrew its premises and has purchased
new office space to house and extend its services.
The new asset will also allow DAIS to leverage
the space in the future to generate income, from
the provision of hire rooms to community groups,
which it will reinvest back into its services.
Instrument
Debt
An awareness of an alternative source of finance
36
Investment
Investment Size
$210,000
Property Purchase
Investment Term
15 years
37
Investment Profile – Enable Social Enterprises Ltd
Social
Enterprise
Finance Fund
Enable Social
Enterprises
Business
Development
Investor
Name
Early Stage Social Enterprise Fund (ESSEF)
Investee
Name
Enable Social Enterprises Ltd
Sector
Employment, Trade & Industry
Geography
Broadmeadows, VIC
Investee Overview
Enable provides employment and training
opportunities for disadvantaged job seekers in
Hume. Enable will achieve this primarily through
the development of an online eBay store, and
work and learning space with pick and pack
procurement opportunities
Start-up capital to set up the new business,
including development of a website and
equipment purchase. The funds will assist in
setting up the business and commencement of
trading activity to achieve employment outcomes
for disadvantaged job seekers.
Instrument
Debt
capital
Investment
38
Investment
Investment Size
$35,000
Source of the Deal
External referral
Start-up
Business Development and Equipment Purchase
Investment Term
5 Years
39
Investment Profile – Maths Pathway Pty Ltd
Community
Finance Fund Social
Enterprise
Maths Pathway
Pty Ltd
Business
Development
Investor
Name
or implement business development strategies
for social purpose.
Investee
Name
Maths Pathway Pty Ltd
Sector
Education and Research
Geography
Melbourne, VIC
Investee Overview
MathsPathway Pty Ltd is an emerging social
business with a mission to increase the level of
numeracy in Australian school children, and
importantly contribute to the professional
development of, and create continued avenues for
the provision of peer to peer support for
mathematics teachers nationally.
MathsPathway sought community finance to
invest in a full time business development
manager to drive sales in this early stage, and
consequently increase contract revenue. The key
to expanding their revenue base will be to
establish relationships and networks outside of
their home state, Victoria.
Instrument
Debt
capital
Increased financial capacity to deliver on vision
40
Investee
and mission
Investment
Investment Size
$100,000
Source of the Deal
External Referral
Investment Term
5 years
41
Investment Profile – Bread and Butter Project
Community
Finance Fund Social
Enterprise
Bread and
Butter Project
Business
Development
Investor
Name
(CFFSE)
for social purpose.
Investee
Name
Sector
Hospitality
Geography
Sydney, NSW
Investee Overview
The Bread and Butter Project (BBP) is a
wholesale artisan bakery operating as a social
enterprise providing training and pathways to
employment for refugees and asylum seekers.
The traineeship lasts for 12 months and provides
both immediate employment and pathways to
future employment in artisan baking and
hospitality industry. BBP was founded by the
bakers who established Bourke Street Bakery and
Central Baking Depot.
Bread and Butter Project secured community
finance for the growth of the social enterprise to
the next stage of development. They purchased
baking equipment to help them expand their
enterprise.
Instrument
Debt
capital
deliver on vision and mission
42
Investment
Investment Size
$150,000
Source of the Deal
Media
Start- up, less than 5 years
Investment Term
5 years
43
Investment Profile – Habitat for Humanity SA
Community
Finance Fund Social
Enterprise
Habitat for
Humanity SA
Business
Development
Investor
Name
or implement business development strategies
for social purpose.
Investee
Name
Sector
Development and Housing
Geography
Adelaide, South Australia
Investee Overview
Habitat for Humanity SA (HFHSA) is a non-profit
organisation concerned with the elimination of
poverty and the human right to shelter. HFHSA
constructs and develops homes for low income
partner families in South Australia, utilising strong
partnerships with volunteers, the families
themselves and state government.
Business development loan to secure land from
Housing Trust South Australia to develop 3 homes
for partner families.
The loan will work as an ongoing facility for
Habitat, where the organisation repays and draws
on the loan in line with property sales and
acquisitions.
Instrument
Debt
capital
44
Investee
Increased financial capacity to deliver on vision
and mission
Investment
Investment Size
$250,000
Source of the Deal
External Referral
Mature, 10 years
Investment Term
5 years
45
Social enterprise Case Studies
Below are two short stories of the following social enterprises’ journey towards accessing community
finance with Foresters:
1. Imagehouse Youth Assistance
2. Munch Crunch Organics
1. Brian Potts, Imagehouse Youth Assistance Founder
“It’s so important to have capital and if you get somebody else on board to
understand why you need it, they don’t see it as just dollars, but dollars to
do something that can help other people. That’s what I found with Foresters,
they were so understanding, they make loans available to people who want
to do good things for other people.”
Imagehouse Youth Assistance (Imagehouse) is a social enterprise providing life skills training, support
and employment for disadvantaged teenagers, through learning the art and craft of carpentry.
Brian Potts, Founder, carpenter and accidental entrepreneur, started his journey with the social
enterprise some two years ago after his home and workshop were broken into by a young man. Instead
of pressing charges, Brian offered him a job in his furniture making business. The young man was given
support and opportunity during this time, which had a strong positive impact on his life. Grateful for the
opportunity that was afforded to him, he asked Brian if he could also help some of his friends who were
experiencing similar challenges. Image House has now helped, and continues to help, a number of
young men through employment and developing and strengthening life and relationship skills. With
Brian’s support and wisdom, the young men learn carpentry, and participate in the various programs that
are offered alongside their work.
After establishing the business as a social enterprise, with significant investment through Brian’s own
business, it reached a point where more capital was imperative to cope with growth of the business. The
young men needed more tools and equipment to work with. As an early stage social enterprise
Imagehouse found it difficult to access capital through grants and mainstream finance.
After some extensive market research he decided to apply for a Foresters Business Development Loan.
“We were very thin as far a cash flow is concerned. We have overcome that,
we are in a continuous loop now, thanks to the loan we received from
Foresters, it has just been perfect timing.”
Understanding the need of Imagehouse, Foresters was able to develop a tailored loan that has equipped
the business with adequate equipment and supplies for the young men and in order to meet business
demands.
46
2. Alasdair Smithson, Munch Crunch Organics Founder
“The Foresters Emerging Social Enterprise Loan has really helped us to
internalise and strengthen our systems and operations a lot more.”
Alasdair Smithson started Munch Crunch Organics(Munch Crunch) around seven years ago to support
local organic farmers. His vision was to create a social enterprise food model that supports organic
farmers by connecting them directly to local consumers. Using internet technology this business model
cuts out the middleman; passes savings on to the farmer and the consumer through fairer and more
consistent prices. The consumer further benefits by buying fresher, healthier and more sustainable food.
This organic farming social enterprise distributes produce to individual households and small businesses
in Northern New South Wales and the South East Queensland bioregion. Munch Crunch believes
community matters to organic agriculture and it is committed to ensuring it remains a local business for
local people.
With a desire to take his innovative social enterprise model to the next level, Alasdair began a
conversation with Foresters to explore finance options for his emerging social enterprise.
“The Foresters loan has helped to expanded our geographic reach.”
Munch Crunch is the first social enterprise to access the Emerging Social Enterprise Loan from
Foresters. This is the latest organisational loan option developed by Foresters. The loan aims to help
social enterprises access community finance in their early stage of development in order to get a great
idea to the next stage.
“Part of the fund will be used to tell our story a bit more. We are a genuine
ethical business, which is perhaps not been very well told in terms of the
story. Marketing, you know, is sometimes often referred to as a dirty word if
you like, but it’s very important, especially for what we believe in.”
Like the experience of many other organisations that have become part of the Foresters community,
Munch Crunch has learned a lot about its self during the loan application process.
“I think for us, accessing finance has been a good exercise to go through.
Being a relatively young and small business it’s made us look at ourselves
through a magnifying glass and look at what we are doing well and what we
are not doing so well.”
Access to finance can have a real impact on getting a business idea of the ground, and get your
organisation to the next stage of development.
“After what seems like a long challenging five years I feel like we are now at
a stage where we can really, hopefully benefit our community.”

SEDIF Impact Report 2014 - Foresters Community Finance

Transcription

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