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SROI Report Cards: Years Ending July 31, 2003 July 31, 2004 July 31, 2005 July 31, 2007 (two year report) July 31, 2008 July 31, 2009.

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Presentation on theme: "SROI Report Cards: Years Ending July 31, 2003 July 31, 2004 July 31, 2005 July 31, 2007 (two year report) July 31, 2008 July 31, 2009."— Presentation transcript:

1 SROI Report Cards: Years Ending July 31, 2003 July 31, 2004 July 31, 2005 July 31, 2007 (two year report) July 31, 2008 July 31, 2009

2 Inner City Renovation: Social Mission Overview SROI Report Card: Hire majority of ICR employees from low – income, inner city neighbourhoods Contribute to the revitalization of Winnipegs inner city Provide quality jobs to target employee group Provide opportunities for skill development and internal career laddering Establish an ICR employee ownership plan once the enterprise has stabilized and reached profitability Recruit at least 60% of employees from low- income, inner city neighborhoods Dedicate significant proportion of contract opportunities to inner city projects Pay market wages and employee benefits Establish apprenticeship program, participatory management training and career laddering structure Retain Employee Social Support Worker Develop employee steering committees and regular staff social and educational events ICR maintains a 60% employee average from the target population Current and past target employees are able to lessen or eliminate need for government financial assistance Tangible progress made regarding individual target employee sustainable livelihood asset development ICR retains majority of target employees while reaching profitability GoalsMethodsSuccess Metrics

3 Enterprise: Inner City Renovations Location: Winnipeg MBDate of Inception: August 2002 Overview of Target Population 79% unemployed before ICR employment 60% receiving social assistance before ICR employment 90% male Majority are aboriginal 11% high school graduates 58% have criminal record 37% had ever held a job for no more than 2 years 63% have dependent children 47% needed food bank services in the year prior to ICR employment Few had bank accounts at hire – most used cheque cashing services Employment Outcomes Provided full time jobs for 26 individuals throughout yr 1 Peak employment of 19 individuals Paid approx. C$480K in wages to target employees Generated approx. C$67K in income tax from target employees Experienced annualized employee turnover of 52% Organized workforce into teams of 1 tradesmen and 2 target employees Experienced ongoing challenges with attendance and productivity which contributed to financial losses Turnover stabilized by end of year HR policies and employee handbook created Overview of Business Renovation and construction company committed to the revitalization of Winnipegs inner city residential housing and creating quality employment for low income, inner city residents The company was started as a joint venture between five nonprofits committed to inner city renewal Business provides full service renovations to both residential and commercial customers in the inner city of Winnipeg The vision is to move the company into an employee ownership business model after ICR has reached two consecutive years of profitability SROI Report Card: Year End 2003 Sustainable Livelihoods Outcomes Improved social connectedness through staff retreats and off-sites Employee social committee has been created as first step toward participative management Staff have 24/7 access to crisis councilor Employee wages average $12.75/hr compared to $6.75 minimum wage Most employees use bank accounts rather than cheque cashing services Only 5% of staff continue to use food banks and frequency has dropped $2,000 invested in basic tools and safety equipment for target employees Partnership created with local College for journeyman training Financial Performance Total Sales Revenue:$935,000 Total Grants and Subsidies $115,000 Total Sales Revenue and Grants $ 1,150,000 Total Operating Profit (Loss) $(245,000) Additional Social Support Infrastructure$8,000 Total Investment Required to Date $368,000 Social Return On Investment Average Change in Societal Contribution (Target Employees)$13,600 Average Number of Target Employees18.5 Total Change in Societal Contribution Ongoing Portion of Societal Contribution $149,500 $74,000 One Year SROI 41% Annuity Multiplier12 Projected Long Term SROI 241%

4 Enterprise: Inner City Renovations Location: Winnipeg MBDate of Inception: August 2002 Employment Outcomes Peak employment of 13 target employees Established apprenticeship program at ICR 44% of target employees established career laddering pathways 100% view ICR as a good career opportunity For 38% of target employees, ICR is the longest they have been at one job 100% reported that through their work they were directly contributing to their local community Overview of Business Adapted the business model – particularly jobsite work processes and crew composition- to compete fairly with the competition and address productivity issues Decreased losses before grants and subsidies from Year 1 to Year 2 by $155,000 Decreased operating loss from Year 1 to Year 2 by $89,000 70% ($654,000) of business in housing and 30% ($282,000)of business in commercial SROI Report Card: Year End 2004 Financial Performance Total Sales Revenue:$936,000 Total Grants and Subsidies $48,000 Total Sales Revenue and Grants $ 984,000 Total Operating Profit (Loss) $(157,000) Additional Social Support Infrastructure$20,000 Total Investment Required for Year Two $225,000 Social Return On Investment Average Change in Societal Contribution (Target Employees)$12,495 Average Number of Target Employees9 Number of Target Employees in Sample Group Current Year Cost Savings to Society 9 $112,452 Current Year SROI 50% Societal Payback Period2 years Average (Year 1 and Year 2) SROI22% Cumulative (Year 1 and Year2) Societal Payback Period4.6 years Sustainable Livelihoods Outcomes (sample group) 100% reported that working at ICR is a positive influence in their lives 100% reported being more financially secure than before working at ICR 63% reported that employment at ICR has increased their abilities in money management 100% reported that their levels of technical (carpentry) skills have improved and 75% reported that they are now able to perform technical tasks or managerial duties that they could not when they were first hired 63% reported working at ICR has a positive impact on their mental health 100% reported an increased social connectedness since working at ICR Overview of Target Population (sample group) 55% aboriginal 100% male 44% have not finished high school Average age is 45 Retained 57% of original target employee base recruited from community-based training program Retained 32% of target employees recruited in year one For 38%, ICR is the longest they have been at one job

5 Enterprise: Inner City Renovations Location: Winnipeg MBDate of Inception: August 2002 Employment Outcomes Maintained 63% target/non target employee ratio throughout Year 3 Average target employee wage of $10.68 and average hourly wage for all staff of $12.90 over 3 years Developed customized education training support to prepare target employees to quality for apprenticeship program Established partnership with Louis Riel Arts & Technology Centre where ICR is a work placement for students in the Construction Trades & Technology Program Winnipeg Aboriginal community formally recognizes ICR as a business connected at the community level Overview of Business Increased total revenues by 37% from last year Grew commercial revenues from 30% to 50% of total revenues ICR is the major contractor for commercial and renewal projects in Winnipegs inner city, particularly Selkirk Ave Renovated over 40 homes in inner city for joint venture partners Manitoba Residential Construction Training Institute recognizes ICR as preferential employer for training graduates SROI Report Card: Year End 2005 Financial Performance Total Sales Revenue:$1,478,000 Total Grants and Subsidies: $232,500 Total Sales Revenue and Grants: $ 1,710,500 Total Operating Profit (Loss): $(3000) Additional Social Support Infrastructure:$13,600 Total Investment Required for Year Three: Total Investment to Date: $249,100 $842,000 Social Return On Investment Average Change in Societal Contribution (per Target Employee): 9,700 Average Number of Target Employees:14 Number of Target Employees in Sample Group:14 Current Year Cost Savings to Society:135,800 Cumulative Cost Savings (prior to year 3):$261,952 Total Cost Savings to Date:$397,752 Cumulative SROI:47% Sustainable Livelihoods Outcomes (sample group) Established multi-stakeholder partnership to deliver Canadas first company run savings/asset development program ICR target employee completed first year apprenticeship and earned one of the highest grades in the class Two target employees formally recognized by Aboriginal community at Elders; ceremony Target employee able to be reunited with his children because of his now stable livelihood Overview of Target Population (sample group) 54% aboriginal Average age is % male 46% have not finished high school 50% have criminal records Retained 25% of original target employee base recruited in Year one

6 Enterprise: Inner City Renovations Location: Winnipeg MBDate of Inception: August 2002 Overview of Target Population 67% aboriginal Average age is 42 6% female 75% have not finished high school 50% have criminal records 46% of original target employee base recruited in Year 1 are still with ICR Employment Outcomes Maintained average 66% target/non target employee ratio throughout Years 4 & 5 Average target employee wage of $13.56 and average hourly wage for all staff of $14.51 over the past two years. As of July 31, 2007 average hourly wage for all staff was $15.29 This wage increase for target employees is a 27% increase over the average wage calculated in 2005 Career building opportunities have resulted in a target employee moving from entry level employee with few job skills to journeyman supervisor Target employees continue to enjoy their work at ICR and most view ICR as a good career opportunity Long term employees noted an improvement in their technical skills Overview of Business Increased total sales revenues by an average of 13.5% per year over the past five years Completed more than 175 projects since start-up Generated more than $6.5 million in earned revenue since start-up Paid out more than $2.5 million in wages and benefits to its employees SROI Report Card: Two year period ending July 2007 Sustainable Livelihoods Outcomes Four target employees were registered in the Apprenticeship Carpentry training program Six employees participated in savings program in 2006 Employees at ICR are recognizing the benefits of secure employment and a regular pay check. ICR continues to provide a social calendar of events in order to encourage social connections for staff and their families e.g. spring retreat, staff Christmas party, family picnic etc. In addition to the normal health plan covering extended health benefits ICR s upgraded health plan now includes life insurance and long term disability. One employee has accessed this long term disability due to a health challenge. Direct payroll deposit ensured that all employees are utilizing bank accounts Hep C vaccinations were provided to all employees in 2006 One employee has obtained a valid drivers licence which he did not previously have. Financial Performance Total Sales Revenue:$3,146,259 Total Grants and Subsidies $296,892 Total Sales Revenue and Grants $ 3,443,151 Total Operating Profit (Loss) $(2,812) Additional Social Support Infrastructure$7,837 Total Investment for Years Four & Five$307,541 Total Investment Required to Date $1,149,541 Social Return On Investment Average Change in Societal Contribution (Target Employees)$11,932 Average Number of Target Employees16.5 Number of Target employees in Sample Group10 Current Year Cost Savings to Society Cumulative Cost Savings (yrs 1-3) $196,878 $397,752 Total Cost Savings to Date $594,630 Cumulative SROI52%

7 Enterprise: Inner City Renovations Location: Winnipeg MBDate of Inception: August 2002 Overview of Target Population 50% aboriginal Average age is 40 13% female 45% have not finished high school 23% have criminal records 35% of original target employee base recruited in Year 1 are still with ICR Employment Outcomes Maintained average 62% target/non target employee ratio throughout Year six Average target employee wage of $15.50 and average hourly wage for all staff of $15.90 over the past year. This wage increase for target employees is a 14% increase over the average wage calculated in 2006/2007 Career building opportunities have resulted in a target employee moving from entry level employee with few job skills to journeyman supervisor Target employees continue to enjoy their work at ICR and most view ICR as a good career opportunity Long term employees noted an improvement in their technical skills Overview of Business Both revenues and profits were down marginally Completed more than 225 projects since start-up Generated more than $8 million in earned revenue since start-up Paid out nearly $3 million in wages and benefits to its employees Inner City Development was awarded the 2008 Employer of the Year Award in recognition of outstanding contribution to Manitoba Apprenticeship training. Inner City Development received honourable mention in the 2008 Manitoba Excellence in Sustainability Award for outstanding achievement and leadership in the Business Category by the Manitoba Round Table for Sustainable Development. Sustainable Livelihoods Outcomes Three target employees were registered in the Apprenticeship Carpentry training program Employees at ICR are recognizing the benefits of secure employment and a regular pay check. ICR continues to provide a social calendar of events in order to encourage social connections for staff and their families e.g. sporting & recreational events, staff Christmas party, family picnic etc. In addition to the normal health plan covering extended health benefits ICR s upgraded health plan now includes life insurance and long term disability. One employee has accessed this long term disability due to a health challenge. Direct payroll deposit ensured that all employees are utilizing bank accounts Financial Performance Total Sales Revenue:$1,374,641 Total Grants and Subsidies $84,592 Total Sales Revenue and Grants $ 1,459,233 Total Operating Profit (Loss) $(34,592) Additional Social Support Infrastructure$6,700 Total Investment for Year Six$125,884 Total Investment Required to Date $1,275,525 Social Return On Investment Average Change in Societal Contribution (Target Employees)$7,211 Average Number of Target Employees9.7 Number of Target employees in Sample Group10 Current Year Cost Savings to Society Cumulative Cost Savings (to 2007) $69,942 $594,625 Total Cost Savings to Date$664,567 Cumulative SROI52% SROI Report Card: Year End July

8 Enterprise: Inner City Renovations Location: Winnipeg MBDate of Inception: August 2002 Overview of Target Population 60% aboriginal Average age is 40 33% of original target employee base recruited in Year 1 are still with ICR Hired employee with a disability (intellectual) that has worked with current employees Employment Outcomes Maintained average 60% target/non target employee ratio throughout Year seven Average target employee wage of $15.75 and average hourly wage for all staff of $16.50 over the past year which is $6.75 more than minimum wage This wage increase for target employees is a 1.6% increase over the average wage calculated in 2008 Target employees continue to enjoy their work at ICR and most view ICR as a good career opportunity Long term employees noted an improvement in their technical skills Overview of Business Revenues increased by 9.8% Profit has contributed to reducing the accumulated deficit Completed more than 255 projects since start-up Generated more than $9.3 million in earned revenue since start-up Paid out nearly $4 million in wages and benefits to its employees Sustainable Livelihoods Outcomes Four target employees were registered in the Apprenticeship Carpentry training program Two employees took a project management course ICR continues to provide a social calendar of events in order to encourage social connections for staff and their families e.g. sporting & recreational events, staff Christmas party, family picnic etc. Employees have indicated that they feel they are getting along better with others as a result of their employment with ICR Financial Performance Total Sales Revenue:$1,509,963 Total Grants and Subsidies $56,910 Total Sales Revenue and Grants $ 1,566,873 Total Operating Profit (Loss) $108,026 Additional Social Support Infrastructure$6,700 Total Investment for Year Seven$63,610 Total Investment Required to Date $1,339,135 Social Return On Investment Average Change in Societal Contribution (Target Employees)$6,381 Average Number of Target Employees12 Number of Target employees in Sample Group12 Current Year Cost Savings to Society Cumulative Cost Savings (to 2008) $76,569 $664,567 Total Cost Savings to Date$741,136 Cumulative SROI55% SROI Report Card: Year End July Note: Target Employee (defined): Inner city resident – Low income

9 Definitions and Methodology Total Investment Required to Date Represents all cash injections in the business Change in Societal Contribution (Target Employees) Difference between the direct societal cost or benefit contributed by the employee before hire versus after hire Ongoing Portion of Societal Contribution The component of the change in financial position that can be measured beyond year one Annuity Multiplier Projected value of ongoing new income tax contributions generated by target employee in the future Current Year SROI Return on investment generated by the current year change in target employee financial position Projected Long Term SROI SROI generated by extrapolating the ongoing portion of the change in employee financial position into the future Total operating losses + Grants and Subsidies + Additional Support Infrastructure = Total Investment Required Annual Social Assistance Before Hire - Annual Income Tax Paid Before Hire + Annual Income Tax Paid After Hire = Change in Societal Contribution Annual Income Tax Paid After Hire - Annual Income Tax Before Hire = Ongoing Portion of Societal Contribution Total Change in Societal Contribution / Total Investment Required =Current Year SROI Ongoing Portion of Societal Contribution * Annuity Multiplier / Total investment Required =Projected Long Term SROI Data Gathering Process Target employees are interviewed to obtain a baseline socioeconomic data Data is gathered regarding employment and sustainable livelihood status prior at hire A second survey is taken at the end of each year to determine changes for target employees Only target employees who are employed for more than three months are considered for SROI calculations SROI Report Card:


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