2011 Annual Report

Page 1




T

he average entrepreneur at Rising Tide Capital is a 39-year-old mother of two children earning less than $33,000 per year1. Local cost-of-living calculations indicate that her income would need to be $48,000 to be considered financially self-sufficient2.

An extra $15,000 per year from a home business can make an RTC entrepreneur self-sufficient; able to save for the future, educate a child and contribute to a healthy local economy.

Client Demographics: 90% minorities 67% women 77% low income 26% single mothers 46% college graduates 28% unemployed at intake 9% formerly incarcerated

One in five families in New Jersey cannot cover basic living expenses like food and shelter, even when household heads are employed. This represents 1.9 million people and 25% of all children in the state1.

1

“Poverty Benchmarks-2010,” The Legal Services of New Jersey Poverty Research Institute, 2010 1 2

Compiled from intake data provided by RTC Clients between 2006-2011 “The Real Cost of Living: The Self Sufficiency Standard for New Jersey-2008,” the Legal Services of NJ Poverty Research Institute, 2008




As a result of these outcomes, RTC generates $3.80 in economic impact for every dollar invested in its programs1

1

Data compiled from the MicroTest (Aspen Institute) Annual Survey of Rising Tide Capital Entrepreneurs


Rising Tide Capital: Performance Dashboard

OUTREACH

839 800

against full yr target of

2010

 

+34% 26%

2011

6%

Jersey City

14% 9%

Advertisement (flyer/newspaper)

24%

Other Hudson County East Orange / Orange

46%

Newark

10%

Other Essex County

53%

17%

8%

9%

12%

Event / festival / street fair

9%

Referral from someone else

8%

Other

Outside NJ

2009

+52%

88%

Other Hudson County 48%

Average age 39.7

69%

East Orange / Orange Newark

With business open 26%

Other Essex County Elsewhere in NJ Outside NJ

11%

373

No. entrepreneurs served this yr *

Female

Minority

Who were in business at time served this yr *

117 494

BUSINESS ACCELERATION SERVICES (BAS) No. entrepreneurs using BAS this yr *

Who we serve

2010

89%

15

2007

75%

68%

67

2008

99

2009

98

2010

98

304

+35%

2011

117

85%

Graduation rate (all time)

75%

Microtest industry standard graduation rate is …

Minority

4-year college degree

Average Age With a biz open

Low Income (HUD)

40.1 26%

JOBS CREATED

Change in Average business sales

Change in median household income

$25,700

Businesses Expanded

2011, 18

Business financing (loans) secured

* Unduplicated count within specified period

$12,000 

1900%

30 3

48

27

at intake **

at intake **

at intake **

at intake **

after 1 yr ***

after 1 yr ***

after 1 yr ***

after 1 yr ***

** Based on all graduates to date at intake

96

48

10%

26%

2011, 72

Percentage graduates using public assistance

29%

Percentage graduates in business

2011, 31

Businesses Strengthened

Technical Assistance (Helpdesk) hours

3,847 157

$40,000

+52%

23%

Seminar hours

2,039

$22,948

233 47% 200 41%

108 

243

IMPACT ON INDIVIDUAL

New Business Starts

In business In planning stages Different Path

2010

45%

61 12%

14

Total hours BAS services provided

2011

above represents all graduates to date

Business Starts/Strengthens/Expansions this yr*

Technical Assistance (Helpdesk)

109

Avg. hours BAS service provided per person this yr *

BUSINESS DEVELOPMENT

Graduates Business Status

Seminars 243

2011 32%

Female

147 155

$15,607

PROGRAM ACTIVITY

+53%

373

COMMUNITY BUSINESS ACADEMY (CBA) No. entrepreneurs graduating CBA this yr * Total no. of CBA graduates to date *

OUTCOMES & IMPACT

245

2011

KEY:

28%

174

2010

2006

+189%

Who is attending? Jersey City

4%

8%

Elsewhere in NJ

+31%

408

Where are they attending from?

How did they hear about us?

 

312

2011

839

4%

408 26

No. attending Orientations about our Program this yr * No. Orientation sessions held this yr 2010

628

Where are they Inquiring from?

31/12/2011 12/31/2011

data correct to:

No. people Inquiring about our Program this yr *

*** Based on sample of graduates (respondents to 2010 annual survey)

2010

2011 Owner Employee

2010: 18 FTE jobs

2011: 54 FTE jobs


I



Of all surveyed participants...

• 83% noticed corporate sponsorship • 64% viewed corporate sponsors more favorably








ily In

ng Businesses o r t S

co

me s

fam

In

•M or e

ea r c

se

ers P d

le ab St

ilies

dren & c h il ia n ce

=

Increased Economic Opportunities

e

+

High Potential Entrepreneurs

•D e c r eas

Partners & Investors

d r el

es for the marginalize i t i n d ortu p p O

we

• Stronge ty i r v i t rea Local Job Creati tax ba c on se & h t l n d a l F a am a on

on

cb b li pu

fits ene

•Neighborho o

d re vit a l i za t i on


The Virginia Wellington Cabot Foundation

The John E. & Jeanne T.

HUGHES FOUNDATION



Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.