2020 IMPACT REPORT
THEStarts NEWwithECONOMY Impact Entrepreneurs We believe in a future that is sustainable, inclusive, and collaborative. Today’s unprecedented health crisis has highlighted deeper issues around inequality and damage to the environment — but it has also created an opportunity for us to build back better. We have a once in a lifetime chance to rebuild our economy with people and the planet at the center. It is time for a greener, fairer world for all. Small and medium businesses (SMEs) are leading the way towards this new world order. SMEs represent 50% of global jobs, and one in three startups are dedicated to positive social or environmental change. We call these startups with a mission ‘impact enterprises’. In addition to their positive impact and innovation, they are also a hotbed for inclusion efforts: 38% are led by women compared to just 3% of FTSE 100 companies. Our global community and support programs have shown us how the post-pandemic world can address the two most urgent global issues of our time: inequality and climate change. NDN Fund, for example, is launching the Moving Beyond COVID-19 Relief & Resilience Loan Fund targeted at those Native-owned or Tribally-owned businesses that are either adversely impacted by COVID-19 or demonstrate operation in a high-demand industry. But even amidst today’s overlapping crises, governments are not prioritizing solutions like these and changemakers are struggling to access the financial and non-financial support they need to make change. Impact Hub is committed to providing this critical support. Alongside lobbying for better policies and funding, we make education and resources accessible to impact ventures around the world. Now is the time to support these entrepreneurs’ critical work. Strong cross-sector collaboration, funding and joint action are how we will accelerate solutions and reach the impact that the world needs to see.
Katie Kalkman CO-FOUNDER/EXECUTIVE DIRECTOR
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IMPACT HUB | ANNUAL REPORT 2020
MISSION & VALUES
Building entrepreneurial communities for impact at scale Our mission is to accelerate social impact by CONNECTING, INSPIRING, and SUPPORTING a community of social innovators and entrepreneurs. We accomplish this by: Catalyzing a vibrant community Curating learning experiences that build economic participation Cultivating cross industry and sector collaboration Providing welcoming spaces to call their work home Connecting to a global network of changemakers
DRIVEN BY OUR VALUES: SHARED POWER Innovation & interconnections between people accelerates when everyone is given a seat at the table.
AUTHENTIC COMMUNITY
DIVERSITY & INCLUSION
Empathy based ecosystem where changemakers thrive through genuine connection, innovative collaboration & mutual commitment
Celebrates diversity & inclusion while unapologetically fighting for fair & equitable treatment of marginalized peers
ACTION Actively engage in social change through community guided best practices to encourage more immediate results
SUSTAINABLE PROBLEM SOLVING Leverage business principles & practices as tools to generate positive advancements in our local & global communities
OUR LOCAL ECOSYSTEM Because impact cannot happen in isolation, it requires collective action.
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IMPACT HUB | ANNUAL REPORT 2020
THE IMPACT HUB COMMUNITY MEMBERS & PARTNERS Members
Partners
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IMPACT HUB | ANNUAL REPORT 2020
2020 NUMBERS SERVED
202 MEMBERS
Our Impact Hub members are creating the solutions needed to build a more sustainable & equal world. They fuel innovation, foster education and generate employment opportunities while building businesses that create strong social & environmental returns.
Venture Stage
Impact Approach 25
05
Nonprofits
Scaling
Sc al in g
In te nt io n
CSR Leaders
Founders
B CORps
Activists
students
intrapraneurr
Academic professional
0
Growth
5
Running
Invest in projects
7%
Startup
37%
Improve peoples' 15 lives through education 10
Idea
Consult & support others to create impact
Create change through policy
20
St ar tu p Ru nn in g G ro w th
Sell products or services with a positive impact
15%
Id ea
7%
Intention
26%
consultants
Small business leaders
impact investors
For-profits freelancers community Organizations Artists
Public Benefit Corporations IMPACT HUB | ANNUAL REPORT 2020
To achieve impact at scale and foster the innovations that are driving the new economy, support for entrepreneurs is critical. We work to inspires, connect and enable changemakers by providing them with the essential knowledge, resources and community connections they need to kickstart their business.
THEImpact POWERHubOF
Because of Impact Hub, entrepreneurs feel supported, connected and grow personally & professionally. "I gained a clearer vision of my work and feel confident that I am on the right path" "It is so wonderful to have the opportunity to mindfully connect with people, especially with how the world is now. (Impact Hub) reminded me that it's not a sign of weakness to struggle but can in fact be a sign of strength."
"I gained a concrete course of action and how to remedy what's been holding me back." "Impact Hub MSP has provided invaluable resources, advice, mentoring, education, and most importantly a community to connect with as a solo executive director of a small Twin Cities nonprofit. The support has enabled me to advance my strategic initiatives to new levels for both my work at my nonprofit and the planning for a new social enterprise."
The Sustainable Development Goals (SDGs) described by the UN as a "blueprint to achieve a better and more sustainable future for all" are a lens through which we -- and our members -- can view our impact on the world. They offer a common language to describe the world's most pressing challenges and can be seen as a pathway towards a new economy that works for both people and planet.
Top SDGs our members focus on:
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IMPACTMEET IN ACTION A MEMBER NDN COLLECTIVE
NDN Collective is an Indigenous-led organization creating resilient and regenerative development solutions on Indigenous terms. They are focused on building the collective power of Indigenous People, communities and Nations to exercise their inherent right to self-determination. By partnering with the philanthropic and investment sectors, they provide funding to large-scale resilient and regenerative projects in Indigenous communities, support those engaged in climate justice campaigns, drive policy change towards racial equity, and empower young Indigenous people with cultural education and tools for change making. During COVID-19, they have awarded over 2,500,000 USD to more than 90 partners in 23 states, to provide immediate relief to Native Nations and frontline Indigenous organizations serving some of the most undeserved communities in the country. https://ndncollective.org
TRADE CENTER OF THE AMERICAS Trade Center of the Americas is committed to providing trade and business opportunities to communities of color, indigenous people, startups, and small and medium size companies. Their vision is to bridge the economic gap through fostering sustainable development and trade practices across the American continent (North, Central and South America). They believe that trade is the path for economic growth and shared prosperity, in alignment with sustainable and corporate responsible practices. Making the initial jump across borders can seem like a daunting next step for growing businesses. At the Trade Center of the Americas they have the experience and expertise to guide businesses through nearly any challenge with ease and efficiency. From trade counseling, market intelligence to referral-matchmaking, they are committed to using an inclusive-cross cultural and personal approach. https://www.tradecamericas.com/ 07
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IMPACTMEET IN ACTION A MEMBER BROWN VENTURE GROUP INVESTING IN BROWN SUCCESS "We envision a world where fully funded Black, Latino & Native American tech startups launch, scale, and reinvest enthusiastically." Brown Venture Group, LLC is a venture studio venture capital firm exclusively for Black, Latino and Native American technology startups. Their target audience is Black, Latino & Native American Tech Inventors looking to create Startups in emerging technologies. They are the YCombinator exclusively for Black & Brown Tech Startups. https://brownventuregroup.com/
BREATHE 99 Breathe99 is redesigning public health solutions from the ground up. Their B2 Mask combines the best in industrial protection and lifestyle design to deliver peace of mind to those in need of respiratory protection. They started Breathe99 because the world can and should be a healthy and equitable place to live. This conviction was informed by their team's collective experiences living in places where poor air quality plays a significant role in people's daily lives. As a Public Benefit Corporation (PBC), their goal is to not only design products that play a vital role in protecting human welfare, but to reimagine how public health tools are distributed in order to create the broadest possible impact on human health. "We're on a mission to make better public health products accessible to all." https://breathe99.com/
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TAILORED SUPPORT PROGRAMS INTERNS 4 IMPACT
CONNECTING STUDENTS WITH MISSION-DRIVEN START-UPS.
Participating social businesses in our Interns 4 Impact Program have access to a team dedicated to making the internship process as easy as possible. From the start, we’ll be there to help you craft your job description, meet your intern, and provide any needed troubleshooting along the way. Our connections to the top schools in the area streamline the selection process. Let us recruit for you! It doesn’t stop there! We will then be available to support your intern through our community including personal & professional development.
ENTREPRENEURSHIP 4 GOOD Part graduate course, part online
accelerator, this program is designed for those who are starting or hoping to start a new mission driven venture. It uses a cohort learning model convening 6-10 people over 10 weekly sessions. Each class session is live, online for 90 minutes. Based on the content of the graduate course taught by the lead instructor, Terri Barreiro, the series goes deep into all the best practices for an effective social venture business plan. The result for you will be a deep understanding of how to launch or expand your specific business! 09
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TAILORED SUPPORT PROGRAMS COMMUNITIES OF PRACTICE (COP)
[noun] a group of people who come together to learn - be - do better around a topic, issue, or theme.
CHAMELEON SHOPPES
The Chameleon Consortium is a private-public group dedicated to the experiential and economic vitality of downtown Minneapolis. Our purpose is to create vibrant downtown experiences by transforming empty retail spaces into equity opportunities for minority- and women-owned businesses. This year, we hosted our second annual Goods 4 Good Market in conjunction with the Chameleon Shoppes Holiday Pop-up.
MINNESOTA B LOCAL
A community of B Corps and B Enthusiasts in Minnesota built by 20 local mission-driven businesses. Engage and Connect Engage and connect the local community of B Corp employees to strengthen the health and efficacy of B Corp companies. Increase Impact
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Increase the positive impact of the local B Economy. Raise Awareness Raise awareness about the B Economy locally, including growing the number of Certified B Corps in the community.
Using business as
a force for good. IMPACT HUB | ANNUAL REPORT 2020
BUSINESS MODEL Revenue Generation & Financials Financials: Balance Sheet Total Assets: $267,636 Total Liabilities: $257,888 Statement of Activities Total Income: $427,492 Total Expenses: $508,653
Growth: This year, we built 4 new private offices and increased membership by 12%.
Impact Hub MSP generates revenue from these sources:
$25-$55 per workshop
Although our community membership levels grew, in-person coworking & event rental revenue declined due to the pandemic.
Memberships $35-$350 each
Program Fees
COVID-19 IMPACT
In response, we immediately expanded our virtual bases of support to include facilitating daily connections, online live trainings and
Meeting & Event Rental $50-$250/hr
Philanthropic Office Rental Support
$400 per desk
individualized advising. We know that economic crisis causes unemployment to increase, therefore stimulating entrepreneurship. We worked hard to support these new entrepreneurs with training strategies, expanded partnerships and new membership packages.
Thank you to our generous supporters:
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GLOBAL IMPACT The Impact Hub Network
16,500+ members
A network of committed entrepreneurial communities can truly accelerate change towards a better future. Divers & inclusive, it fosters collaboration among different players and new ideas that are already underpinning a greener, fairer economy. Over the years, we have learned the importance of fostering a network that is both locally rooted in its regional context and globally connected to share knowledge & opportunities.
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BELET'S PARTCOLLABORATE! OF THE CHANGE STAFF
Katie Kalkman, Executive Director Bailey Johnson, Events & Marketing Manager bailey.johnson@impacthub.net Keith Ischer, Operations Manager keith.ischer@impacthub.net Mia Cannon, Special Projects Manager mia.cannon@impactub.net Ben Ihde, Member Services Coordinator
MEMBER COUNCIL
Kelsey King, Land-o-Lakes Haggai Simon, Artist in Isolation Tamara Torres, Optima Results Coaching Victoria Karpeh, Literacy Legacy Center Elizabeth Rossini, Fractional CMO Nick Theisen, The Idealect Ned Zimmerman Bence, GogyUp Paul Schadewald, Macalester
BOARD Michelle Tran Maryns, We Sparkle Kayla Yang-Best, Seasoned Specialty Foods Judy Jandro, Community Reinvestment Fund David Ly, Bizarre Solutions Chris Dykstra, Warecorp Kate Dehmer, Minnesota Public Radio Ted Carling, Ecotone Analytics Terri13Barreiro, Impact Hub MSP Co-founder
www.impacthubmsp.com @impacthubmsp
IMPACT HUB | ANNUAL REPORT 2020