San Diego Social Enterprise Accelerator Fund

Transcription

1 San Diego Social Enterprise Accelerator Fund Inaugural 2017 Cohort REDF 1

2 Why are we doing this?

3 AGENDA Background Introduction to San Diego Workforce Partnership (SDWP), REDF, and Mission Edge Benefits of the fund Eligibility Selection Criteria Process Key Dates Outcomes & Commitment Contracting with SDWP CT vs. OJT Closing To Apply Questions REDF 2015 P REDF A

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5 We Believe Work has the power to transform lives and communities. People who are willing and able to work should have the opportunity to do so. REDF / 5

6 Our Vision REDF is expanding nationally to champion social enterprise growth. Over the next five years, REDF will help 50,000 people transform their lives through the power of work, while growing the evidence base and creating a thriving ecosystem with the best partners and the right policy incentives in place. Together, we can create more economic opportunity, jobs, and hope for the people and communities that need it most. Our History REDF is the only venture philanthropy organization in the country that invests exclusively in the growth and effectiveness of social enterprises that provide jobs and a pathway into the workforce for people facing the greatest challenges. Since 1997, REDF has provided vital financial assistance and specialized advisory services to over 80 social enterprises in California, aiding in their success and reducing government spending on benefit programs. Business Method Invest in social enterprises: double-bottom line businesses that produce goods and services, generating revenue to create jobs and employ and empower people overcoming formidable barriers.

7 About Mission Labs Mission Labs is a program of Mission Edge Founded in 2012 to provide infrastructure and back-office support for nonprofits -- more than 150 clients served to-date. Services include: Accounting/Finance, HR, Fiscal Sponsorship and Corporate skilled volunteer matching. Mission Edge is a social enterprise: 95% of operating budget comes from earned revenue -- more than $1.4mm in Mission Labs extends our operational and strategy support to both social enterprises and nonprofits seeking earned revenue. Services include: Organizational assessments for social enterprise viability Business Model Validation and strategy Financial modeling and change management Forecasting, business planning and investment preparedness

8 Benefits of the fund Funding from SDWP & REDF Technical Assistance from REDF and MissionLabs Network with like minded organizations and funders Access to additional capital networks

9 Eligibility Operate a workforce-development social enterprise in San Diego County Currently training or employing, or have identified model to employ or train individuals facing barriers to work, including: o Justice Involved youth or adults o Disconnected youth (16-24 not in school, not employed) o Homeless o Individuals with disabilities o Veterans o Long-term unemployed o Other significant barriers to employment Willingness to enter into SDWP s contracting (OJT or CT)

10 Selection Criteria Mission Alignment: Demonstrated impact in employment and training of people with barriers Innovative programmatic models with strong outcomes (e.g., job placement, employment retention) Operational Capacity: Strong operational performance of the social enterprise Ability to track and monitor business performance and employment outcomes of participants Growth Potential: High potential for significant business growth and job number growth Leadership and Partnership Potential: Demonstrated partnership abilities with corporate or public sector employers Potential for partnership with new funders Potential for new learnings that could be shared with the field

11 Key Dates in the Application Process November 4: Invite-only applications sent (apply here) November 14: Webinar at 10 a.m. PST (register here) November 21: Application assistance 11:30 a.m. - 2:30 p.m. (conference line: , access code: #) November 30: Applications due at 11:59 p.m. PST December 2016: Announce selections January 2017: Funding and technical assistance begin

12 Outcomes & Commitment Participation: Quarterly in-person cohort meeting (½ day) Ongoing technical assistance engagement Participation in SDWP & REDF learning networks (REDFWorkshop, SE4JOBS) Outcomes: Enterprise diagnostic performed Key success metrics defined (people trained, placements, retention, funds leveraged, social return on investment) Technical assistance project identified and implemented Assistance with and identification of potential funding sources

13 REDF Technical Assistance Programmatic Employee supports Job design Program design Recruitment Business Growth Business mentoring Business development Contracts & procurement Sales strategies Portfolio Staff Consultants Outcomes & Reporting Performance dashboards Enterprise financial reporting Enterprise information systems Business Planning & Launch Feasibility analysis Market research Marketing strategies Breakeven analysis

14 SDWP Funding Types On-the-Job Training Customized Training Individual training Reimburse wages Cohort training Reimburse training costs

15 On-the-Job Training (OJT) Individual training: Only 1 trainee per OJT agreement Hire and then train: The training occurs while the individual earns wages as an employee of the company 50% of the hourly wage of the new hire (or trainee), up to 1040 hours Sick leave, paid time off or jury duty (i.e., only hours worked on the job will be reimbursed) Employers or any company that will hire the trainee Customized Training (CT) Cohort training: More than 3 trainees per CT agreement Train and then hire: The training program acts as a screener for successful employees before the company or partner employers hire the trainees 50-75% of the cost of training, including, but not limited to: tuition, cost of the trainer (e.g., manager s wages), facilities, supplies (e.g., books) or equipment, and certifications/exams Wages of the new hire and costs not-associated with the training cohort Employers who will hire or training providers that are able to find employment for trainees at various companies Retention of the new hire (trainee) in the same company at least 3 months after contract Placement of 80% of the trainees who complete the training within 2 months of the contract completion completion

16 Contracting with SDWP A minimum, must have: Workers compensation insurance Public liability insurance Property insurance Main and alternative contacts for contracting, invoicing, etc. Financial capacity to hire training completers without subsidy Administrative capacity to submit itemized receipts, timesheets, etc. Training and recruitment plan Job description(s) for positions to be trained After completing the Social Enterprise Accelerator fund application, applicants will then: 1)Work with SDWP to complete an OJT/CT application 2)Contract with SDWP Sample applications can be found online as indicated in the SE Accelerator application or Tina@workforce.org for OJT/CT applications and sample contract

17 FAQs How are trainees eligible? They must be registered with an America s Job Center of California Do you have someone in mind for training? Do you need help with recruitment? This will affect the contracting and training timeline How do I get reimbursed? Checks sent during intervals of training, with final check sent at employment/placement What paperwork is required for SDWP funds? OJT/CT application OJT application includes OJT agreement, assurances, training plan OJT invoice template + timesheets (i.e., proof of wage payments) CT invoice doesn t have template, but requires Itemized receipts Both require a check-in/survey at midpoint and completion of training

18 THANK YOU Q&A