2016AnnualReport
LETTERFROM THEBOARD CHAIR 2016wasayearoftremendousgrowthforSEG.From thesize andbreadthofournetworkofvolunteersandbusinessesserved, totheactivitiesandeventstakingplaceinourhub,inourstaf capacity,andourreachintoanumberofnew economicand socialimpactareas.theseedsofthisgrowthwereplantedover tenyearsago,whenwewerefoundedasachapterofsocial VenturePartners.Theyhavebeennurturedovertheyearsbyour stafandboard,networkofvolunteersandpartners,andour funders,alofwhom sharethegoalofgrowingfinancialy successfulbusinessesthatalsocreatepositivesocialimpactsin ourcommunity. Wearenolongerastart-up,andwenow facemanyofthe wonderfulchalengesknowntogrowingorganizations everywhere chalengestoourinfrastructure,ourculture,andour identity.thankfuly,wearerocksolidonourmission supporting businessesthatcreatepositivesocialimpacts aswelasour beliefinandrelianceonournetworkofvolunteers,whoarethe enginethatpowerseverythingthatwedo.weknow thatthese twocornerstoneswilcontinuetoprovideastrongfoundationfor ourcontinuedgrowthinthecomingyears. IthasbeenatremendoushonorformetoserveasChairofthe SEGBoardforthelastfouryears.AlthoughIam steppingdown attheendof2016,ilookforwardtocontinuedworkasamentor andcoachinourfoodaccelerator,andcontinuingworkon bringingmorepayforsuccessfinancingtorhodeisland.our new Chair,KenBarete,bringsawealthofexperiencegrowing hisownsuccessfulpartnershipbusiness,aswelasmanycivicand volunteerengagements.heisawonderfulcombinationofbeing verysuccessfulatbusinessandverypassionateaboutsocial change.hisleadershipwilbeagifttotheentiresegcommunity. Pleasejoinmeinwelcominghim tohisnew roleatseg. Warm regards, DianeLynch
LETTERFROM THECEO Thankstothesupportofsomanybusinessandcommunityleaders, partners,donorsandentrepreneurs,2016wasanotheryearofgrowth andimpactforsocialenterprisegreenhouse. Ournetworkofover300businessandcommunityleaderscontinueto generouslysharetheirexpertise,networkandresourceswithour portfolioof400+ dowel,dogood ventures.i,togetherwiththeseg staf(astrong,colaborativeteam of1passionatesocialinnovators) andboard(17commitedcommunityleaderswhoroluptheirsleeves todriveourworkforward),feelhonoredeverydaytoworkwiththe SEGnetworkofentrepreneursandvolunteers. SincewemovedtoDavolSquarewe vewelcomed 15+impact venturesintotheseghub,andexpandedtoincludespaceonthe secondfloor. Ourtwonew industryfocusareas foodandhealth&welness have resultedinnew ventures,connectionsandincreasedimpact.wenow haveachangemakerfelow atal1ri-basedcolegesanduniversities andcontinuetolinktheamazingtalentcomingoutofouruniversities toourservicesandventures.thelistgoesonandon. Aswelookto2017,alweseeismorejobsandimpact.Weareexcited tolaunchanew pilotprogram,thebestforrhodeisland,an educationandawarenesscampaigntoencouragebusinessestodo moregoodinourcommunity.wealsoplantostartconvening communityleadersandentrepreneurswhoareworkingtoimprove educationalandenvironmentaloutcomes.finaly,weremain commitedtoensurethatweefectivelyrepresentandserveal membersofourcommunity. Ithasbeenanamazing7yearsandIlookforwardtoworkingwith eachofyoutocontinuetomakerhodeislandthebestplaceto launchandgrow animpactbusiness. Withthanks, KelyRamirez
MISSION SocialEnterpriseGreenhousecreatespositivesocial andeconomicimpactbysupportingsocial entrepreneursandenterpriseswiththetoolsand networkstheyneedtothrive.wealsofosteran ecosystem thatprovidesthepolicyframework, capitalaccess,andbusinessenvironmentforajust andresilienteconomy. Wedefinesocialenterprisesasorganizationsthat strivetodowelanddogood,usingbusinesstools andharnessingmarketdemandtoachieveboth socialandfinancialimpact. VISION RhodeIslandisanationalmodelforgrowing sustainable dowel,dogood businessesthat positivelytransform communities,createjobs,and ahealthyeconomy. WHO WEARE SocialEnterpriseGreenhouseisanetworkof300+ businessandcommunityleaderswhocontribute time,expertise,andfundingtosupportourportfolio of400+venturesandthelargersocialimpact ecosystem.
WHO WESERVE
IMPACT 2016SnapShot: Leverage 215 PartnersandMentors Engaged 1,124 PoBonoHoursofSupport Portfolio 225 VenturesServed 200 Jobs 480k+ LivesImpacted CumulativeImpact(since2010): Overthelastsixyears,SocialEnterpriseGreenhousehasbuiltastrongtrackrecordinhelpingtolaunchandgrow doweldogoodbusinessesinourcommunity.our81acceleratorgraduateshavecreated412jobsinourregion, andpositivelyimpactedthelivesof306,000 people.ourco-workingspace,theseg Hub,recentlyopenedin April2015,alreadyprovidesahomebaseandsupportservicesforover75socialenterprises.Over285social enterprisesleveragedourtechnicalassistanceand/ornetworkingserviceslastyeartohelpscaletheirventures andtheirimpact.ouruniversityprogram hasconnectedhundredsofstudentswithinternshipandresearch opportunitiesatlocalventures.seg worksstatewide,servesacommunityofgenderdiverseentrepreneurs(more than53% ofourcurrentventuresarefemaleledand24% areledbyunderrepresentedminorities)andour businessessolvesomeofthemostpressingsocialchalengesinourcommunity.weuseournetworkofmorethan 282volunteers,403businessesandcommunitybasedorganizations,12universitypartners,and4,000+ stakeholderstodriveourmarketingandoutreach.
SUCCESSSTORIES SocialEnterpriseGreenhousehasbeena criticalcomponenttothedevelopmentand successofbeatthestreetsprovidence. Ourstaff,andventuregrew leapsand boundsbecauseofthebusinessacumen wegainedthroughthe2016impact Accelerator.SEG staffcontinualysupports thebtsmissionwithadvisors,resources, andopportunitiesforpartnerships. -StevenKeith,BeatTheStreetsProvidence SocialEnterpriseGreenhousepairedmewith fantasticcoacheswholedmetorefinethe company sgoals,streamlinetheprocessing operations,andevaluatethebestmarketsfor ourproducts.learningfrom otherfood businessesinthecohortprovidedmewiththe skilstoscalethebusinessquickly. -ErikaLamb,SecondsFirst "BeingapartoftheSEG communityhasbeena greatexperienceforourorganization.sincewe joinedlastyear,we'vemaderealandlasting connectionswithothersworkinginthisspace. SEG'srecentlaunchoftheWater,Energyand EnvironmentInitiativehasbroughtgreatenergy andmuch-neededattentiontotheseareasof focus." -JoDetz,EcoRINews ParticipatingintheSEG'sfirstHealthandWelness Cohortwasagreatexperience.Wefeelhonoredwe gottopluginwiththebestconnectedgroupin RhodeIslandandbeapartofthepremierstartup incubationorganization'saccelerator.forpsm the mostbeneficialpiecewastheexposurereceived withtheimmensenetworkofkeyindividuals. -FranciscoPortela,PortelaSoniMedical
en 1 2016HIGHLIGHTS ImpactAcelerator TheImpactAcceleratorengagedover43coachesand advisors.the2016cohortwasmadeupof 1social enterprises,fourofwhichwereintheeducationsector. This12weekprogram wasdevelopedanddeliveredin partnershipwithbrownuniversityandfeaturesweekly onlinelearningmoduleswithtopicsrangingfrom Value PropositiontoImpactMeasurement,6peer-learning workshops,andadesignatedbusinesscoachforeach socialenterprise.thisprovenmodelforsuccesswas thenusedascoreprogrammingforinitiativesinfood andhealth&welness,andprogram replicationinohio with2cohortsand30 ventureparticipants.this expansionintonew industriesandregionshasalowed SEG tobuildnumerousstrategicpartnershipsand increasegrantandearnedrevenue. FodInitiative TheFoodinitiativeengagedagrowingnumberofkey foodecosystem stakeholderswith20 volunteersserving ontheadvisorycouncilandanother60 providing coaching,advisingandworkshopsforthe90+food entrepreneurswhoparticipatedinourcommunityand programming.servicesincludeourmonthlycommunity tablenetworkingevent,acceleratorandindividualand groupadvising.a totalof12venturesgraduatedthefood Accelerator.Inaddition,SEG hostedeventswiththe RIFPC,BlueMarbleBrands,UNFI,FairFoodNetwork, CongressmanLangevin sfoodfirstadvisorycouncil, andotherfoodgroupsandcompanies.thisinitiativehas alowedseg tobecomeaconvenerinthefoodspace, helpingtoorganizediscussionsaroundahealthyrifood system. 2
BecauseofYOUR passion,thesocialenterprisemovementisgrowing! 3 Health&WelnesInitiative TheHealthandWelnessInitiativeconvenedan AdvisoryCouncilof60 industryprofessionals representativeofthehealthandwelnesssector.the program servedacommunityof62venturesthrough 4aspectsofprogramming:EarlyStageFeasibility Checks,HealthAccelerator,Huddle,andHealth NetworkingNights.In2016,SEG ranitsfirsthealth andwelnessacceleratorwithacohortof8 ventures.inaddition,seg hostedandco-organized 14eventstosupportthehealthandwelness ecosystem.asaresultofthehealthandwelness initiative,seg developed13strategicpartnerships resultinginincreasedfundingandtechnicalsupport. Universityinitiative TheUniversityinitiativereceivedaNetworkMatchingGrant from CommerceRItocontinuetoformalizeandgrow the program.asaresult,wewereabletonameachangemaker Felow atal1colegesanduniversities.felowsreceived professionaldevelopmentandcoachingandhelpedtogrow entrepreneurialopportunitiesontheircampuses,andlink studententrepreneurstotheseg community.wewerealso abletoexpandourprogrammingtoincludequarterly networkingeventsforfacultyandadvisingtouniversitiesto helpthem expandtheirsocialenterpriseprogrammingand courseofferings.finaly,throughourtalentmatchmaking service,wereceivedmorethan387requestsfrom students whowereseekingopportunitieswithinthesocialenterprise ecosystem andwereabletohelpplace37studentswith opportunitieswithourportfolioventures. 4
2016HIGHLIGHTS(cont.) LoanFund 5TheLoanFundoffersflexiblelow-interestrate funding,coupledwithtechnicalassistancetosocial ventureswithaprovenbusinessmodel.in2016.we providedloanstomaternova,thecompostplantand CapitalGoodFund.Theloanwasrecapitalisedthis yearwitha50k matchinggrantfrom theeverhope Foundationand100K ofsupportfrom theri CommerceCorporation.Todate,theloanfundhas providedcapitalto6venturesandhas100% repaymentrate. Hub In2016,SEG expandedthehubtoinclude additionalspaceonthesecondfloor,addingmore desks,officesandcommunalspaceforourgrowing community.overthecourseoftheyear,hub Membershipincreasedfrom 39to81members.In 2016,outsideorganizationshosted65events, whichbrought2,085membersofthesocialimpact communitytogether.seg hosted62workshops andofficehours,providingnetworkingandinsights tohubmembersaswelasthebroadercommunity. 6
2016COMMUNITY BOARD DianeLynch,Chair AlanHarlam,ViceChair ScotJones,Treasurer RobPanoff,Secretary EdwardLevine(incoming) Jim S Jim Seymour JohnFarber JohnJ.Partridge KathrynBendheim KennethBarrette(incoming chair) Kim Anderson MarkMa MarkMarosits MartinKeen(incoming) MJKaplan SoniaMilsom (incoming) SylviaBrown SylviaMaxfield AdvisoryBoard ChuckHoland ChuckHoland JenHetzel-Silbert LorneAdrain TonySilbert Staf KelyRamirez,CEO AntonietaFalconi,CFO Bily BilyKepner CrystalRosatti EmilyMooney EmilyWanderer HaileyBathurst IsabelaCassel PaulaCunanan TraciPicard JennyPichardo Donors,Sponsors,funders AdvancedRemarketingServices AlanHarlam AmazonSmile BariFreeman BetsySantarlasci BilDoherty BilDoherty BilyKepner BobGerber BrendaRashleigh BrownUniversity CharlesHewitt ChristopherPatton Citi CitizensBank CityofProvidence ColinMurphy DanLevinson DanielBjorkgren DannieRitchie DeltaDental DepartmentofLaborand DepartmentofLaborandTraining DianeLynch EJMPFundforPhilanthropy EverhopeFoundation FidelityInvestments FranLoosen GailAhlers Henry HenryP.KendalFoundation JayThrasher Jim Seymour JohnFarber JohnMuggeridge JohnnyLuo JosephineEke KarenMalcolm KatherineBendheim KennethBarrette LorneAdrain MajorPettaway MariaKasparian MedMates MicheleCulion NavynSalem Newman'sOwnFoundation OptimityAdvisors PaulMooney PeterGilCase PeterPinchot ProvidenceColege RhodeIslandFoundation RhodeIslandSchoolofDesign RICommerceCorporation RobPanoff RobertN.Dangremond Sal SalveReginaUniversity SammyAshkar SarahMitchel ScotJones SeinWoo ShawnSeleck StephenRobb SylviaBrown TheWeatherlow Foundation TobiasLederberg UnitedNaturalFoods,Inc. UniversityofRhodeIsland CommunityMembers AndreaRounds Aging2.0 AlbertBrown AlexanderJimenez AviMalinger BarringtonSchoolFarm Project/WaterWayFarm BelieveIAm Chri ChristopherSowa CocoFuel EvaAgudelo FemmeForte GayBenTre GenesisCenter GildedTomato HolaBakedGoods InternationalInteriorDesign Association IsabelMarsh JeanPuerini Jenni JenniferColwel KatherineBrown LauraMarino-Dean ManuelReyes MargaretMulvena MarkBrody MicheleCruz PeterBeerman SavoryFare
FINANCIALS 2016revenues:$840,838* 2016expenses:$714,841* *SEG preparedthe2016financialreportsformanagementpurposesonly.seg obtainsanauditorreview from an independentcpa firm onanannualbasis,the2016auditor'sreview wasnotcompleteatthetimeofthispublication.
YOUR supportmakesthiskindofpositiveeconomicprogresspossible.pleaseconsider contributingtosocialenterprisegreenhouseandhelpusbuildabetterrhodeisland. 2016Balanceshet* Assets Cash CashAccounts SEG LoanFund FiscalSponsorshipFunds TotalCash A/R andgrantsreceivable $ 221,484 $100,000 $ 141,960 $463,444 $ 125,983 FixedAssets LoansReceivable OtherAssets $ $ $ 28,919 71,667 6,530 TotalAssets $696,543 Liabilities AccountsPayable OtherCurrentLiabilities CustodialFunds LoanforLoanFund NetAssets UnrestrictedNetAssets Temp.RestrictedAssets NetIncome $ 1,592 $ 12,000 $ 141,960 $100,000 $ 255,552 $ 130,665 $ 184,329 $ 125,997 $440,991 TotalLiabilities+NetAssets $696,543 Yearlyrevenues2010-2017*