2000 CFED Annual Report


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From recruiting more passionate staff members to acquiring a bigger board of directors and most importantly, generating greater impact of CFED's work, 2000 was a fundamental year of growth for CFED. Mobilizing a strategic three-year plan at the beginning of the year, CFED has channeled it's resources into acquiring individual assets, enterprise development, and sustainable economies that have resulted in a remarkable vision for economic opportunity in years to come.

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2000 CFED Annual Report

  1. 1. ideas that make economies work ... for everyone Corporation For Enterprise Development 2000 ANNUAL REPORT
  2. 2. ideas that make economies work ... for everyone
  3. 3. cfed mission The Corporation for Enterprise Development fosters widely shared and sustainable economic well-being by promoting asset-building and economic opportunity strategies— primarily in low-income and distressed communities—that bring together community practice, public policy, and private markets in new and effective ways. cfed vision The Corporation for Enterprise Development envisions widely shared, sustainable economic well-being in an inclusive, productive economy where everyone is fully engaged and appropriately rewarded. cfed clusters Individual Assets Enterprise Development Sustainable Economies cfed services Research & Demonstration Field Services Policy Analysis, Design, & Advocacy Communications
  4. 4. dear friends... The word that best captures the year 2000 for CFED is growth. We have a larger staff, a bigger Board of Directors, and more square feet than at any time in our 21-year history. More importantly, though, our work is having greater impact, allowing us to fulfill our mission in even more innovative ways than we had envisioned in the past. Toward the end of 1999 every member of the organization participated in an intense, six-month assessment to consider our performance and plan for how best to steward CFED through its accelerating growth in staff, revenues, and visibility. The result was an ambitious three-year strategic plan, which the Board approved at the beginning of 2000. In our first year of implementing this plan, we made remarkable progress in achieving some of the major goals we’d set. To sharpen the focus of our work and capture synergies among related projects, CFED “clustered” its programmatic efforts into three broad areas—individual assets, enterprise development, and sustainable economies—each with its own objectives, leadership, and budget. We also invested heavily in essential infrastructure to support our programmatic mission. We created or enhanced our communications, administration, technology, finance, development, and human resources functions by assigning each a specific manager, work plan, and budget. Although it will take time for these investments to mature, we’ve already seen significant quality improvements across the organization. A third component of the strategic plan calls for cross- cluster competencies and coordination, which will be the next step in the evolution of CFED’s management structure. Any organization would find such dramatic reconfiguration a sizable challenge; CFED was no exception. But 2000 had more change in store for us. CFED welcomed 18 new staff and said farewell to five, so that by the end of the year we had 30 full-time employees. We expect even
  5. 5. more growth in 2001. To add to the general upheaval, our Washington, DC, office moved to a larger space in the early fall—coinciding with activity on major Individual Development Account (IDA) legislation on Capitol Hill. CFED’s Board of Directors grew from eight to 15 members. We were delighted to welcome David Dodson, president of MDC, Inc.; Fred Goldberg, partner at Skadden, Arps, Slate, Meacher, Flom, LLP; Angela Glover Blackwell, president of PolicyLink; Maurice Lim Miller, executive director of Asian Neighborhood Design, Inc.; Chris Page, program officer of Rockefeller Financial Services, Inc.; Chuck Parrish, executive vice president of Phone.com, Inc.; and Hilary Pennington, president of Jobs for the Future. Three new Board oversight committees began work on finance and investments, development and endowment, and human resources and nominations. Finally, CFED was awarded a gift of $2 million from the Charles Stewart Mott Foundation to grow our endowment—the Investment in Innovations Fund—to more than $4 million. We are well on our way to a three-year target of $15 million and are indebted to Benita Melton, Jack Litzenberg, and Bill White for their support and guidance in securing this very generous grant. This report can only share a few highlights of how CFED worked in the year 2000 to expand widely shared and sustainable economic well-being—there is so much more. We are honored to lead an organization with such dedicated staff, dynamic partners, and visionary funders. It is a tribute to the character of those who comprise the CFED community that we have thrived through such a rapid pace of change with our sense of humor intact and our vision still clearly at the fore. BRIAN DABSON, PRESIDENT BOB FRIEDMAN, CHAIR = clickable link for more information
  6. 6. cfed goals ...Create incentives and systems that encourage and assist all American individuals and families to acquire and hold assets. ...Identify, preserve, and build financial, human, social, and environmental assets, especially in low-income communities across the country. ...Advocate economic development policies and practices that build a dynamic and inclusive economy.
  7. 7. highlights of the year 2000 building a strong financial future: incorporating a national financial growing cfed’s endowment institution to advance microenterprise In late 2000, CFED received an extraordinary $2-million gift In November 2000, CFED incorporated its first independent from the Charles Stewart Mott Foundation to move the subsidiary, the National Fund for Enterprise Development (NFED), to organization closer toward self-sufficiency and its three-year, support work at the state and regional levels to expand, leverage, or $15-million endowment goal. consolidate resources for low-income entrepreneurs. This gift was only the most recent installment in a tradition of financial Throughout the nation, there is growing momentum among diverse and intellectual support that spans more than 15 years. The Mott stakeholders to come together to capture economies of scale, deploy Foundation has been a visionary funder and has partnered with CFED capital, share learning, influence public policy, raise funds, and provide in work that led to the Development Report Card for the States (DRC); services for microenterprise development. NFED will foster the growth the Self-Employment Investment Demonstration; the Association for and success of these efforts by providing an enduring national Enterprise Opportunity; the Self-Employment Learning Project; the platform for funding, training, and technical assistance for state Microenterprise Fund for Innovation, Effectiveness, Learning, and microenterprise intermediaries. Dissemination; the State Microenterprise Associations Initiative; the NFED was designed in conjunction with the Association for Enterprise Microenterprise Anti Poverty (MAP) Consortium; the American Dream Opportunity, microenterprise practitioners, investors, and others and is Demonstration (ADD); and so much more. certified by the Community Development By bringing the Investment in Innovations Fund to more than $4 Financial Institutions (CDFI) Fund million, the Mott Foundation contributed to CFED’s permanence by of the U.S. Department of the providing an enduring stream of revenue for flexibility, informed risk Treasury. taking, and innovation. = clickable link for more information
  8. 8. expanding the assets reinventing the for independence act development report card for the states Throughout 2000, CFED closely monitored and communicated In October 2000, CFED transformed the Development Report Card for information to the field about amendments and appropriations for the the States (DRC) into an entirely online publication. The 14th annual Assets for Independence Act (AFIA)—Public Law 105-285. Enacted in DRC continued to challenge other leading economic reports by using 1998, AFIA authorized the U.S. Department of Health and Human more than 70 indicators to benchmark states, thus presenting a wider Services to establish a five-year, $125-million federal IDA demonstration. view of economic performance and equity. In addition to customized pages for all 50 states and regional trend analysis, the online DRC In 1998 and 1999, Congress earmarked only $10 million of the allowed users to download raw data and customize queries possible $25 million per year allowed by the legislation. Even with with specific combinations of states or indicators. limited funding, the demonstration enabled 40 non-profit organizations to establish IDAs for low-income families. The IDA field rallied to Data from the DRC was cited in at least educate Congress about the importance of providing maximum 108 news stories in 42 states, and 6,000 support for AFIA, and a full $25 million was approved for fiscal year unique users visited the web site before the 2001. With this increase, it is estimated AFIA will fund as many as year’s end. Released amidst a flurry of 33,000 new IDAs. election-year rhetoric, the report provided a realistic context for evaluating economic Further, Congress and President Clinton approved significant promises and programs of local, state, and amendments to AFIA. Sponsored by Senators Gregg (R-NH), Harkin federal candidates. The publication (D-IA), and Kennedy (D-MA) and passed in December 2000, the elevated the profile and quality of debate legislation expanded eligibility for AFIA-funded IDAs and aligned the surrounding community economic law with current IDA practice. development, state tax incentives, regional performance, and more. = clickable link for more information
  9. 9. contributions to the field grants and investments made by cfed in 2000 ACCESS Agency, Inc. California Capital, Small CTE, Inc. Heart of America Lenders for Community Willimantic, CT Business Development Center Stamford, CT Family Services Development Sacramento, CA Kansas City, MO San Jose, CA ACEnet Detroit Non-Profit Athens, OH Caleb Community Housing Corporation Housing Assistance Lexington Housing Community Development Corporation Detroit, MI Corporation Development Corporation Acre Family Day Corporation Baton Rouge, LA Hyannis, MA Lexington, NC Lowell, MA East Bay Asian Local Calvert Social Development Corporation Human Solutions Maine Centers for Women, ADVOCAP Investment Foundation Oakland, CA Portland, OR Work, and Community Oshkosh, WI Bethesda, MD Augusta, ME Economic Opportunity Agency Institute for Market Economics Alliance for Capital Area of Washington County Sophia, Bulgaria Martha O’Bryan Center Minnesota Microenterprise Asset Building Corporation Fayetteville, AR Nashville, TN Virginia, MN Washington, DC Institute for Economic Ventures Responsible Fatherhood Massachusetts Alliance for Multicultural Center for Community Self-Help Knoxville, TN San Diego, CA Micro-Enterprise Coalition Community Services Durham, NC Boston, MA Houston, TX Florida Association for International Center for Central Texas Mutual Housing Microenterprise Entrepreneurial Studies Michigan State University Allston Brighton Community Association Ocean Ridge, FL Bucharest, Romania Saginaw, MI Development Corporation Austin, TX Allston, MA Foundation for Jefferson Economic Microenterprise Central Vermont Economic Education Development Institute Council of Maryland Alternatives Federal Community Action Council Warsaw, Poland Mount Shasta, CA Baltimore, MD Credit Union Barre, VT Ithaca, NY Garfield Jubilee Association Juma Ventures Micronet Consumer Credit Pittsburgh, PA San Francisco, CA Wiscasset, ME Appalachian Development Counseling of Durham Federal Credit Union Durham, NC Georgia Justine Peterson MidAmerica Leadership The Plains, OH Microenterprise Network Housing and Reinvestment Foundation Community Action Atlanta, GA St. Louis, MO Chicago, IL Assets for All Alliance Program of Evansville San Jose, CA Evansville, IN Grand Rapids Kansas Microenterprise Missouri Association Opportunities for Women Opportunity Network for Social Welfare Bay Area IDA Collaborative Community Action Grand Rapids, MI Manhattan, KS Kansas City, MO San Francisco, CA Project of Tulsa Tulsa, OK Greater Dwight Kentucky Association of Montana Community California Association for Development Corporation Microenterprise Practitioners Development Corporation Microenterprise Opportunity Community Development New Haven, CT Louisville, KY Missoula, MT Oakland, CA Technologies Center Los Angeles, CA Hawaii IDA Collaborative Honolulu, HI = clickable link for more information
  10. 10. cfed 2000 publications Mount Hope Oikos Community Development Tennessee Network for IDAnetwork Housing Corporation Corporation Community and Economic Bronx, NY Dayton, OH Development Nashville, TN Assets: A Quarterly Update for Innovators Mountain Association for Oregon Community Economic Microenterprise Network Tulane-Xavier Campus Affiliates Development Eugene, OR New Orleans, LA The Development Report Card for the States Booneville, KY People Inc. of United Way of Atlanta North Carolina Southwest Virginia Atlanta, GA Pie in the Sky: Department of Labor Abingdon, VA Raleigh, NC Virginia The Battle for Atmospheric Scarcity Rent Rocky Mountain Mutual Microenterprise Network Near Eastside IDA Program Housing Association Richmond, VA Indianapolis, IN Denver, CO Common Assets: Washington State Nebraska Enterprise Rural California Lenders Network Asserting Rights to Our Shared Inheritance Opportunity Network Housing Corporation Tonasket, WA Stanton, NE Sacramento, CA West Company Curbing Business Subsidy Competition: Neighborhood Economic Shorebank Corporation Fort Bragg, CA Development Corporation Chicago, IL Does the European Union Have an Answer? Mesa, AZ Westchester Residential Shorebank Opportunities, Inc. New Enterprises Fund, Inc. Neighborhood Institute White Plains, NY Accountability: The Newsletter of the Christiansburg, VA Chicago, IL Woodland Community Business Incentives Reform Clearinghouse New Hampshire MicroBusiness Statewide Emergency Development Corporation Resource Partners Network for Social and Clarfield, TN Concord, NH Economic Security Trade and Sustainable Development: Albany, NY Women’s New Mexico Community Self-Employment Project A Newsletter Development Loan Fund Steans Family Foundation Chicago, IL Albuquerque, NM Chicago, IL Women’s Opportunity Budgeting and Economic Development: Northland Institute Tabor Community Services Resource Center Minneapolis, MN Lancaster, PA Philadelphia, PA A Guide to Unified Development Budgets Office of Economic Opportunity Technical Assistance YWCA of New Castle County Murphy, NC Providers’ Association Wilmington, DE A full listing and descriptions of CFED publications Barre, VT is also available. = clickable link for more information
  11. 11. individual assets
  12. 12. ...to lay the foundations for a universal savings and investment system
  13. 13. guiding the american developing infrastructure designing a billion-dollar dream demonstration in the IDA field IDA marketplace Supported by 11 national foundations and In 2000, CFED expanded its response to the Working closely with federal policymakers, initiated by CFED in September 1997, the growing IDA field. Spurred in part by ADD IDA practitioners, academics, interest American Dream Demonstration (ADD) is the and supportive public policies but largely by groups, and others, CFED was instrumental first large-scale test of IDAs as a social and dynamic community leaders, IDA initiatives in recrafting legislation that would have economic tool for low-income communities. grew from approximately four in 1996 to 250 provided billions of dollars in tax credits to Although just beyond its midpoint, the five- in 2000. CFED expanded, improved, or support IDAs for low-income Americans. year ADD program has already yielded created a number of products or services, Introduced in both chambers of Congress in significant results. It has influenced state and including the following achievements: February, the Savings for Working Families federal IDA policy, refined effective practices ...Substantially reworked IDAnetwork.org, Act of 2000 (SWFA) gained tremendous in IDA account and service delivery, and an online learning community momentum and support throughout the year. generated a wealth of statistical data proving Only last-moment politics surrounding a that the poor can and will save to invest in ...Instituted a field-based, participatory larger legislative proposal prevented SWFA high-value assets like education, home process for developing IDA program from becoming law in 2000. ownership and business start-up. certification standards However, SWFA laid the ground work for firm By mid-2000, 2,378 accountholders aged ...Trained a cadre of 54 Americorps*VISTA bipartisan consensus and a broad coalition 13–72 were saving in ADD-supported IDAs. volunteers to build IDA programs nationwide of advocates who will support future IDA Their average monthly net deposit was ...Created a framework and partnerships to policy initiatives. CFED is poised to lead a $25.42; their cumulative savings total was develop a comprehensive financial literacy strong effort in 2001 to change the U.S. tax $838,443. Including matching funds, the total curriculum code to provide a permanent structure to asset accumulation was $2,482,951. As of promote asset building for the poor. mid-2000, 13% of accountholders had already ...Expanded the national IDA learning made matched withdrawals. Among them, conference to offer more than 30 workshops approximately 24% purchased a home, 24% to 550 participants invested in microenterprise, and 21% pursued ...Increased distribution of Assets, CFED’s post-secondary education. The rest invested quarterly newsletter for IDA stakeholders, in home repairs, retirement, or job training. and initiated more thematically based stories = clickable link for more information
  14. 14. 1991 1992 1993 1994 1995 field services ............................................................ Community-based .......................... CFED hosts first national IDA organizations implement first conference in Chicago, IL; IDA initiatives 150 participants attend CFED publishes first edition of the IDA Program Design Handbook research & communications ..... Center for Social Development .................................................. CFED distributes first edition ............................ at Washington University in of the newsletter Assets: St. Louis publishes Assets A Quarterly Update for and the Poor—Michael Innovators Sherraden’s seminal book outlining the conceptual framework for IDAs policy ....................... U.S. House of ........................ Iowa enacts first state IDA law .................................................... Representatives Select Committee on Hunger hosts first federal hearings on IDAs = clickable link for more information
  15. 15. 1996 1997 1998 1999 2000 field services ... Four IDA initiatives in CFED, the Center for Social CFED hosts national IDA CFED hosts national IDA CFED hosts national IDA operation throughout the Development, and 11 conference in Chicago, IL; learning conference in learning conference in Austin, United States national funding partners attendance grows to 300 Oakland, CA; 450 TX; 550 participants attend launch national IDA policy participants attend demonstration: the American CFED trains and assigns 54 Dream Demonstration (ADD) CFED trains and assigns 46 Americorps*VISTA volunteers Americorps*VISTA volunteers to build U.S. IDA initiatives to build U.S. IDA initiatives Approximately 250 U.S. IDA initiatives in operation CFED and stakeholders in the field develop and refine framework for voluntary certification of IDA initiatives research & communications .................................................. CFED launches the IDA ............................ Center for Social Development Learning Network—an online publishes Savings and Asset community to foster informa- Accumulation in Individual tion exchange on IDAs Development Accounts, the first comprehensive report on CFED publishes Building data generated by the ADD Assets for Stronger Families, Better Neighborhoods, and CFED unveils IDAnetwork.org Realizing the American —an expanded and updated Dream—a report on research version of the online IDA related to assets and asset- Learning Network building policies policy................ Federal welfare reform law ........................... Assets for Independence Act HHS Office of Community Congress considers Savings includes IDAs as a permissible (AFIA) becomes law, Services awards 40 grants for Working Families Act— use for Temporary Assistance establishing a 5-year, $125- under the AFIA multibillion-dollar tax legis- for Needy Families (TANF) funds million federal IDA demonstration project lation to promote IDAs demonstration Clinton discusses IDA-like Assets for Independence Act savings accounts in State of (AFIA) appropriation is $25 the Union address million for Fiscal Year 2001 HHS Office of Refugee Gore and Bush both include Resettlement makes funds IDAs or IDA-like accounts in available to establish and campaign messages manage IDAs for refugees = clickable link for more information
  16. 16. Looking forward... While stewarding the Savings for Working Families Act through Congress, CFED will help financial institutions prepare to implement the law and will provide technical assistance, training, and tools to further develop the infrastructure of the IDA field.
  17. 17. enterprise development
  18. 18. ...to develop enterprises and human capital through finance, education, and policy development
  19. 19. making microenterprise investing in innovation in building an information a priority development finance infrastructure for CDFIs In 2000, CFED significantly expanded its In April and October, CFED’s Local Capital In 2000, the groundbreaking CDFI Data State Microenterprise Association Initiative, Markets Investment Fund made seven Project made significant progress toward its doubling grant awards to $160,000—16 investments averaging $75,000 in goal of creating a sustainable data collection awards—and convening an intensive two- community development financial and management system for the nation’s day meeting of 40 associations and others to institutions (CDFIs) on the cutting edge of community development financial Iinstitutions examine management and public policy policy and practice. (CDFIs). advocacy issues. Guided by its investment committee of The project convened nine national Managed by CFED, the Microenterprise Anti bankers and other development lenders, organizations that collectively represent the Poverty (MAP) Consortium is an ongoing the Fund made several targeted breadth of the CDFI field. In October, each partnership among leading national investments in: organization agreed to collect and share organizations to promote federal policies in fiscal year 2000 data from 450 CDFIs and ...A new financing entity to reinvest idle support of low-income entrepreneurs. other development finance institutions. funds held by revolving loan funds Throughout the year, MAP Consortium Goals of the project include reducing the partners educated policymakers about the ...Financial assessment and planning reporting burden of development finance importance of the Program for Investment in software institutions over time, as well as building Microentrepreneurs (PRIME) Act—landmark ...Marketing materials and strategies to capacity in CDFIs and the trade associations legislation that authorizes federal funds for attract new sources of private capital for participating in the project. In 2001, the training and technical assistance for low- small businesses project will produce a business plan that income entrepreneurs. Partners in the MAP outlines an information infrastructure over Consortium successfully made the case for a ...An integrated management information three to five years. $15-million appropriation in fiscal year 2001. system to assess the social and economic impact of investments in small businesses This project will transform the way CDFI data CFED also launched its State TANF– is collected and used in the development Microenterprise Initiative by making grants to ...A new equity investment product finance field. support state leaders who advocate designed for rural businesses microenterprise as a path from welfare dependence to economic self-sufficiency. = clickable link for more information
  20. 20. 1991 1992 1993 1994 1995 field services ........... The Association for CFED launches State Human ................................................... CFED hosts international Enterprise Opportunity, Investment Policy conference on self- a national microenterprise Demonstration in Iowa, North employment and trade association, starts up Carolina and Oregon unemployment insurance in partnership with the U.S. The Aspen Institute Department of Labor and the launches the Self- Organization for Economic Employment Learning Cooperation and Development Project—a five-year longitudinal study of low- income entrepreneurs— based on CFED design research & communications ...... CFED hosts the Federal ............................................................................ Microenterprise Policy Institute, where practitioners and policymakers discuss initiatives and regulations to support microenterprise policy ...................... CFED testifies before ........................ The federal Community .......................... CFED testifies before the Congress on the efficacy of Development Financial U.S. House of Representa- microenterprise development Institutions Act passes, tives on alternative uses of as an antipoverty strategy expanding access to credit, employment compensation investment capital, and Microenterprise financial services for Microenterprise development development becomes an underserved communities is included as an eligible eligible activity under the activity in the federal Job Training Partnership Personal Responsibility and Act, which launches a grant Work Opportunity Act program for state (known as welfare reform) microenterprise training and technical assistance = clickable link for more information
  21. 21. 1996 1997 1998 1999 2000 field services ... CFED begins work to create Microenterprise Fund for CFED releases findings from CFED collaborates with CFED launches State TANF- the State Microenterprise Innovation, Effectiveness, the National Revolving Loan prominent national Microenterprise Initiative, Association Initiative to Learning, and Dissemination Fund Census and seven organizations to create the awards initial grants in five promote practitioner forms to develop, document, state revolving loan fund CDFI Data Project states networks and disseminate effective profiles at the national practices in employing Counting on Local Capital CFED launches the Local CFED founds National Fund microenterprise as an Institute Capital Markets Investment for Enterprise Development– antipoverty strategy Fund to spur innovation and the first national intermediary the creation of replicable for microenterprise models for the development finance industry research & communications CFED publishes Realizing the ........................... CFED hosts first annual State CFED hosts annual State CFED hosts annual State Promise of Microenterprise Microenterprise Association Microenterprise Association Microenterprise Association for Welfare Recipients— Initiative convening in Wash- Initiative convening in Wash- Initiative convening in Wash- guidelines for states to ington, DC; 30 participants ington, DC; 35 participants ington, DC; 40 participants harness welfare reform in attend attend attend support of low-income entrepreneurs policy .............. Microenterprise development CFED convenes Microenter- Program for Investment in CFED receives Presidential Practitioners from across the is included as an eligible prise Anti Poverty (MAP) Microentrepreneurs Act Award for Excellence in country travel to Washington, activity in federal welfare-to- Consortium to advance (PRIME) becomes law, Microenterprise Development DC, and successfully work legislation policy innovation in support providing funds to support advocate for a $15-million of microenterprise low-income entrepreneurs appropriation for the PRIME Act The White House presents first Presidential Awards for Excellence in Microenterprise = clickable link for more information
  22. 22. Looking forward... In addition to nurturing NFED, CFED will identify new sources of microenterprise capital and will increase the number, amount, and scope of investments in new tools to strengthen development finance institutions.
  23. 23. sustainable economies
  24. 24. ...to promote economic opportunity through effective, accountable, environmentally compatible development
  25. 25. balancing trade vs. engaging an environmental fostering international sustainable development equity constituency exchange In 2000, CFED and the Harrison Institute of CFED and its partners jointly launched As part of its Economic Development Public Law at Georgetown University launched Americans for Equitable Climate Solutions Fellowship Program, CFED arranged six a multi-year project to strengthen the (AECS), a nonprofit organization promoting international fellowship tours in 2000 to governing capacity of state and local officials ways to cut carbon emissions but protect share information and encourage innovation in an increasingly global economy. An some individuals, communities, and in worldwide economic development policy ambitious work plan to better balance goals industries that may be harmed by higher and practice. Small groups of development of increased trade and sustainable economic energy prices. Although often seen as a professionals from Bulgaria, Germany, development has already resulted in the purely environmental debate, attempts to Poland, and Romania met with their following accomplishments: stem global warming affect the interests of American counterparts to learn about topics labor, community development proponents, such as taxation and business climate, ... A study tour to Europe to explore antipoverty advocates, state and local tourism development, regional development international solutions to subsidy competition policymakers, and others. Through AECS, strategies, workforce training, and ... Publication of Curbing Business Subsidy CFED hopes to give those groups a stronger public–private partnerships. Competition: Does the European Union Have voice in the debate. A fellowship program also allowed a group an Answer? CFED also helped organize an equity coali- from the United States to travel to Europe to ... A monthly electronic newsletter on trade tion in association with the Sky Trust Initia- study multilateral trade and investment and local development (www.cfed.org) tive. Sky Trust proposes to limit how much agreements. Trips typically lasted three carbon can be put into the atmosphere, allow weeks and included a total 41 participants ... A symposium on global incentive reform the market to set a price on emission rights, from the five countries. in Washington, DC collect revenue from those who purchase the ... Addresses to four state legislatures right, and return proceeds to the owners of the sky—the public. CFED developed and ... Research into potential trade law impacts published briefing materials about the on a number of state laws economic equity components of the ... New resources for the online Business In- environmental debate and the impact of centives Reform Clearinghouse (www.cfed.org) global warming on minority communities in the United States. = clickable link for more information
  26. 26. 1991 1992 1993 1994 1995 field services............ CFED manages multi-site The Nature Conservancy Rethinking Rural ..................................................... community capacity-building partners with CFED to Development reports CFED’s demonstration in Mississippi facilitate a community-wide, work with development and publishes lessons learned environmentally compatible practitioners in sparsely to promote effective practices development plan with populated areas to test Northampton County, VA ideas, tools, and policies to Edison Electric Institute promote economic commissions CFED to investment outside urban develop a community-based centers economic development workbook and train more than 100 development staff of investor-owned utilities research & communications .............................. The AFL-CIO funds CFED to ......................... CFED publishes Bidding for ........................... research and write Working Business, a critical analysis Capitols, a major work on of how cities and states can state economic development erode quality of life when led polices and practices astray by tax-based business incentive competition policy................................................ States and communities CFED develops, tests, and CFED presents policy Massachusetts and North seek guidance about how promotes an economic alternatives to tax-based Carolina seek assistance in to manage effective analysis tool to create a business incentives examining the practice of economic development in benchmarking system for tax-based business the midst of recession; regional development incentives and work to make CFED presents Hard Times, public investments more Smart Choices equitable and cost-effective CFED trains activists and opinion leaders on the importance of equity, accountability, and quality of life in making economic decisions = clickable link for more information
  27. 27. 1996 1997 1998 1999 2000 field services.............................. Indiana Economic Develop- CFED launches the Economic More than 38 international CFED President, Brian ment Council, the Environ- Development Fellowship Pro- economic development Dabson, becomes Chair of mental Defense Fund, and gram (EDFP) to promote policymakers, practitioners, the international Forum on CFED collaborate to develop international exchange and opinion leaders engage Social Innovations to foster the Profits, Productivity, and between economic develop- in six independent U.S. study transatlantic exchange Pollution Prevention program ment policymakers, practi- tours as part of CFED’s EDFP between North America and to weave together environmen- tioners, and opinion leaders Organisation for Economic tal concerns and economic in Europe and the United Co-operation and Develop- performance in mainstream States ment (OECD) member business practices nations Nearly 50 international economic development policy- makers and practitioners engage in six independent U.S. study tours as part of CFED’s EDFP research & communications ........................ Environmentally compatible Business Incentive Reform CFED and the Harrison CFED elevates the profile of economic development is Clearinghouse, an interactive Institute of Georgetown Law appropriate economic promoted through a resource web site at cfed.org, Center research threats development by retooling the book, Building Healthy provides local, state, and posed by global trade and 14th annual Development Communities federal policymakers with the investment agreements to Report Card for the States as best ideas for holding state and local economic an entirely online publication business incentives to a development policies and higher standard of programs accountability policy ................................................................... CFED incubates the Sky The Center on Budget and Americans for Equitable Trust concept to seek an Policy Priorities joins CFED to Climate Solutions incorporates economically equitable develop, propose, and to push for the Sky Trust solution in global climate publish creative public and agenda, which is further change policy private sector strategies in refined by CFED’s Pie in the Creating Jobs Sky publication = clickable link for more information
  28. 28. Looking forward... With an eye toward equity, economy, and the environment, CFED will work collaboratively across national borders to address common threats such as growing inequality, increasing globalization, and climate change.
  29. 29. cfed partners & investors revenues... groups & individuals providing over $10,000 in 2000 1990—$1,427,949 Anonymous The John D. & Catherine T. MacArthur Foundation Bank of America Microsoft Corporation 1991—$1,447,109 BP Amoco Foundation Charles Stewart Mott Foundation Capital Area Asset Building Corporation Ms Foundation for Women 1992—$1,712,539 The Annie E. Casey Foundation National Community Capital Association Chase Manhattan Bank The New York Community Trust 1993—$1,665,882 Citigroup Foundation The Philanthropic Collaborative Richard Cohon Redefining Progress 1994—$1,816,726 Corporation for National Service San Francisco Foundation The Energy Foundation South Dakota Rural Enterprise, Inc. 1995—$1,768,932 Fannie Mae Foundation Surdna Foundation Ford Foundation Tides Foundation 1996—$2,921,993 German Marshall Fund of the United States Turner Foundation Governors State University— W. Alton Jones Foundation South Metropolitan Regional Leadership Center 1997—$2,826,681 Wallace Global Fund F.B. Heron Foundation Winthrop Rockefeller Foundation The Joyce Foundation 1998—$4,142,068 Ewing Marion Kauffman Foundation W.K. Kellogg Foundation 1999—$5,425,933 Levi Strauss Foundation 2000—$7,290,747 = clickable link for more information
  30. 30. 2000 financial highlights Continued rapid growth and major investments in internal net assets... capacity led to a mixed financial result for 2000. 1990—($11,222) On the one hand... 1991—($131,057) ...Total assets increased by 16.2% from almost $9 million in 1999 to $10.4 million in 2000. 1992—($127,899) ...Cash and cash equivalents increased by 21% from $6.4 million to $7.7 million. 1993—($129,022) ...Earned revenues (services, communications, and net assets released from purpose 1994—$58,715 restrictions) rose by 40% from $5 million to $7 million. 1995—$43,497 On the other hand... 1996—$1,005,127 ...Unrestricted assets decreased by $321,465 of which $101,092 was a loss on investments. 1997—$4,087,821 ...While total revenues increased by 34%, total expenses increased by 53%. 1998—$4,551,409 ...The fund balance (unrestricted, undesignated reserves) decreased from $495,506 to 1999—$8,697,517 $186,722. 2000—$9,377,991
  31. 31. statement of activities 1999 2000 change in unrestricted net assets revenue, gains, and other support Service revenue $ 906,746 $ 954,092 Interest and dividends, including amounts earned on designated reserve of $88,412 and $66,225, respectively 177,312 262,614 General support — 113,700 Communications revenue 32,690 14,848 Other 38,847 12,596 Contributions 108,000 3,000 Net unrealized (losses) gains on investments 108,237 (101,092) net assets released from restrictions Satisfaction of program and time restrictions 4,054,101 6,030,989 ———————————— ———————————— ———————————— ———————————— total revenue, gains, and other support ............... 5, 425,933 .............. 7,290,747 expenses program services Services 4,580,922 6,985,081 Communications 92,863 15,363 ———————————— ———————————— ———————————— ———————————— Total program services ...................................... 4,673,785 .............. 7,000,444 supporting services Management and general 307,498 611,768 ———————————— ———————————— ———————————— ———————————— total expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,981,283 . . . . . . . . . . . . . . 7,612,212 change in unrestricted net assets . . . . . . . . . . . . . . . . . . . . . . . . . . 444,650 . . . . . . . . . . . . . . (321,465) Service revenue 7,145,559 7,032,928 Contributions 610,000 — Net assets released from restrictions: Satisfaction of program and time restrictions (4,054,101) (6,030,989) ———————————— ———————————— ———————————— ———————————— change in temporarily restricted net assets . . . . . . . . . . . . . . . . .—3,701,458— . . . . . . . . . . . . . . 1,001,939 ———————————— —————————— ———————————— ———————————— change in net assets ................................... 4,146,108 . . . . . . . . . . . . . . . . 680,474 net assets, beginning of year 4,551,409 8,697,517 ———————————— ———————————— ———————————— ———————————— net assets, end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,697, 517 . . . . . . . . . . . . . . $9,377,991
  32. 32. financial position 1999 2000 assets current assets Cash and cash equivalents $6,359,366 $7,693,616 Contracts, contributions, and grants receivable 1,020,929 666,344 Other receivables 89,425 4,549 Prepaid expenses 34,414 100 ———————————— ———————————— ———————————— ———————————— Total current assets ......................................... 7,504,134 ............. 8,364,609 noncurrent assets Property and equipment, net of accumulated depreciation of $254,916 and $222,122, respectively 47,430 107,667 Investments 1,422,883 1,956,778 Security deposit 2,242 2,242 ———————————— ———————————— ———————————— ———————————— Total noncurrent assets ...................................... 1,472,555 ———————————— ———————————— . . . . . . . . . . . . . 2,066,687 ———————————— ———————————— total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,976,689 . . . . . . . . . . . . . 10,431,296 liabilities and net assets current liabilities Accounts payable and accrued expenses $252,207 $859,641 Deferred revenue 26,965 185,669 Deferred rent — 7,995 ———————————— ———————————— ———————————— ———————————— Total current liabilities 279,172 1,053,305 ———————————— ———————————— ———————————— ———————————— total liabilities ........................................... 279,172 ............. 1,053,305 commitments & contingencies net assets Unrestricted Undesignated 495,506 186,722 Designated reserve 1,422,883 1,410,202 ———————————— ———————————— ———————————— ———————————— 1,918,389 1,596,924 Temporarily restricted 6,779,128 7,781,067 ———————————— ———————————— ———————————— ———————————— total net assets ........................................ 8,697,517 ———————————— ———————————— . . . . . . . . . . . . . 9,377,991 ———————————— ———————————— total liabilities and net assets . . . . . . . . . . . . . . . . . . . . . . . . . 8,976,689 . . . . . . . . . . . . . 10,431,296
  33. 33. cfed staff Shawnice Blakes (from 6/00) Roberta Lamb Jackson (to 6/00) Jenanne Rock (from 7/00) LISTS ARE CURRENT AS OF Administrative Assistant Program Coordinator Americorps*VISTA Leader DECEMBER 31, 2000 Ray Boshara Martina James (to 8/00) Bruce Ruffin (from 6/00) Policy Director Program Manager Americorps*VISTA Leader Beverly Brandon-Simms LaShelle Jenkins (from 8/00) Heather Sabrie Chief Financial Officer Office Manager Senior Communications Manager René Bryce-Laporte Lisa Kawahara William Schweke Senior Program Manager Administrative Manager Senior Program Director Cecilia Cuthbert (from 2/00) Linda Keeney Steve Shepelwich (from 3/00) Office Manager Communications Manager Senior Program Manager Brian Dabson Patricia Kennedy (from 10/00) Javier Silva (from 9/00) President Program Manager Program Manager Colleen Dailey Andrea Levere Anna Smith Program Manager Vice President Accounting Technician Mary-Elizabeth Davis (to 11/00) Jennifer Malkin (from 10/00) Sandi Smith (from 2/00) Senior Accountant Program Associate Senior Program Manager Tiffany Eng (to 8/00) Deborah Manley Sean Stickle Program Coordinator Employee Services Manager Senior Technology Manager Robert Friedman Kent Marcoux Helen Payne Watt (to 6/00) Chair Program Director Senior Program Manager Peter Genuardi (from 9/00) Leslie Parrish (from 6/00) Jennifer Willson (from 8/00) Program Associate Program Manager Communications Associate Inger Giuffrida (from 6/00) Danielle Passareti (from 4/00) Karen Wilson (from 2/00) Program Director Americorps*VISTA Leader Development Director Brian Grossman (to 7/00) Kim Pate (from 9/00) Program Director Senior Program Manager Matt Hull Carl Rist Program Manager Program Director = clickable link for more information
  34. 34. board of directors Rebecca Adamson Chris Page LISTS ARE CURRENT AS OF President, First Nations Program Officer, DECEMBER 31, 2000 Development Institute Rockefeller Financial Services, Inc. Fredericksburg, VA New York, NY William Bynum Chuck Parrish President and CEO, Enterprise Executive Vice President, Corporation of the Delta Phone.com, Inc. Jackson, MS Redwood City, CA Brian Dabson Hilary Pennington President, Corporation for President, Jobs for the Future Enterprise Development Boston, MA Washington, DC Janet Thompson David Dodson Vice President, Citibank N.A. President, MDC, Inc. New York, NY Chapel Hill, NC Joan Wills Robert Friedman Director, Institute for Chair, Corporation for Educational Leadership Enterprise Development Washington, DC San Francisco, CA Grace Young Fred Goldberg, Jr. Director, Concurrent Partner, Skadden, Arps, Slate, Technologies Corporation Meacher, Flom, LLP Camden, SC Washington, DC Angela Glover Blackwell President, PolicyLink Oakland, CA Ronald Gryzwinski Chairman, Shorebank Corporation Chicago, IL Maurice Lim Miller Executive Director, Asian Neighborhood Design, Inc. San Francisco, CA = clickable link for more information
  35. 35. To learn more about CFED, visit www.cfed.org national office southern office western office 777 N Capitol St NE 123 W Main St 353 Folsom St Suite 800 Third Floor San Francisco, CA Washington, DC Durham, NC 94105 20002 27701 415.495.2333 202.408.9788 919.688.6444 415.495.7025 202.408.9793 919.688.6580 = clickable link for more information
  36. 36. Corporation For Enterprise Development 777 N Capitol St NE Suite 800 Washington, DC 20002