Transcript Document
SJF Overview Measuring the Social and Environmental Impacts of Targeted Investing Durham, NC 919.530.1177 New York, NY 917.749.2354 www.sjfund.com December 11, 2007 Anne Claire Broughton | > SJF Overview SJF Ventures (orig. Sustainable Jobs Fund) $45 MM capital under management Founded 1999; Durham, NC & NYC offices Investing in companies that have a positive impact on the world 20 portfolio companies SJF Advisory Services Nonprofit firm, founded 2001 Entrepreneurial assistance In-depth workforce & cleantech assistance Showcasing innovators Building the field 2 © 2007 SJF Ventures Current Practice: Annual Mission Impacts Survey Survey of SJF Ventures portfolio companies conducted since 2001 which includes sections on: Employment Benefits Workforce Development Training Environmental Impacts Employment issues of concern (ranked by the CEO) Feedback for SJF – areas for future engagement/assistance Company specific questions Survey has been administered online via Survey Monkey since 2004 (previously experimented with fax, emailed Excel worksheet, and in-depth phone interview) 3 © 2007 SJF Ventures Result: Annual Mission Results Report Analysis of mission impacts survey data Quotes from portfolio company execs and employees Top level results of entrepreneurial assistance provided by SJF Advisory Services beyond the SJF Ventures portfolio, tracked and ranked as Level I, II, or III Entrepreneurial Assistance examples – brief case studies Qualitative stories of LMI employees moving to higher paid positions Summaries of SJF Advisory Services events such as the Getting Ready for Equity™ training for inner city and rural entrepreneurs; quotes from participants 4 © 2007 SJF Ventures Other Best Practices In depth community development call with new portfolio companies to get baseline information on employee demographics, current and future types of jobs created, baseline and average non-management salaries, environmental impacts, and ways we can assist (broad-based stock options, training grants, benefits) Expertise in setting up broad-based stock option plans, benefit assistance, green marketing contacts and expertise, ability to apply for training grants, environmental best practices General approach as an assistance provider, not regulator Periodic company visits, employee interviews Case studies of non-portfolio companies assisted The “but for” question – would preferred outcomes have occurred w/o SJF? 5 © 2007 SJF Ventures Challenges Need for valid, extensive data vs. respect for the growing companies’ limited resources and time The most meaningful data is on the employee level (were ee’s previously unemployed, employed at a lower wage? Do they advance to better jobs at other companies when they leave? Do they gain assets and move out of poverty?) but we are mostly limited to company-level data (gold standard was REDF – deep pockets and a third party evaluator) To date, limited success in obtaining multi-year payroll reports to analyze the degree that individuals are able to move to higher paid positions Continue to wrestle with definition of “target employees” – LMI, non-mgmt, etc. Lack of shared industry standards; i.e.; measuring “jobs created” when co-invested 6 © 2007 SJF Ventures Future Plans for Improving Assessment Continue to streamline survey while maximizing meaningful data Systematically follow up with non-portfolio companies in which we provided extensive assistance to assess actual usefulness/outcomes of that assistance Follow up for Beyond Paycheck to Paycheck, determine degree to which broad-based stock options are valued by employees and what happens once they are liquid (do ee’s buy a house to build assets or spend in another way more meaningful to them?) Follow up with participants six months after events such as Getting Ready for Equity™ to assess what aspects of the training were most useful in practice, whether they built their networks as a result and whether they received equity or debt funding as a result 7 © 2007 SJF Ventures SJF Overview THANK YOU! Durham, NC 919.530.1177 New York, NY 917.749.2354 www.sjfund.com Anne Claire Broughton | >