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HomeMy WebLinkAboutMiami Bayside FoundationMIAMI BAYSIDE FOUNDATION Advancing the City of Miami through the support of minority businesses and education 25 SE 2� '1 Avenue Suite 240, Miami, FL 33131 Board of Directors Chair Nathan Kurland Licensed Realtor 3121 Commodore Plaza Coconut Grove, FL 33133 215-776-1038 N rkpax@aol.com Vice -Chair Pamela Weller Senior General Manager Bayside Marketplace Bayside Boulevard, Suite 106 Miami, FL 33132 305-577-3344 x7010 Pamela.weller@ggo.com Treasurer Josie Correa Executive Director Downtown Miami Partnership, Inc. 25 SE 2nd Avenue, Suite 240 Miami, FL 33131 305-632-1014 josielegido@gmail.com Secretary Nicole E. Ewan Record Systems Coordinator City of Miami 3500 Pan American Drive Miami, FL 33133 786-973-7787 nikkiewan@vahoo.com Directors: Rolando Aedo Executive Vice President/Chief Marketing Officer Greater Miami Convention & Visitors Bureau 701 Brickell Avenue, Suite 2700 Miami, Florida USA 33131 305-539-3090 Rolando@gmcvb.com Benny Carmona Senior Vice President/Bank Lending Division Total Bank 2020 Ponce de Leon, Suite 101 Coral Gables, Florida 33134 (305) 476-6399 bcarmona@totalbank.com Jeff Cazeau Kleiner Cazeau 18305 Biscayne Blvd., Ste. 302 Aventura, Florida 33160 (305) 517-1392 ext 102 icazeau@kleinercazeau.com Luis Cuervo Executive Director CAMACOL Loan Fund Program 1401 West Flagler Street Miami, FL 33135 305-642-3870 Icuervo@att.net Bill Diggs President & Chief Executive Officer Miami Dade Chamber of Commerce 1951 NW 7th Avenue, Suite 13-139 Miami FI 33167 305-751-8648 BDiggs@m-dcc.org Maria Korge Managing Partner Korge & Co. 459 SW 19th Road Miami, FL 33129 786-536-4113 maria@korgeco.com SLJM1TTED NTO THE PUBUC RECORD FOR ITEMPA. t QN 01-2.b-12-• /2- 00780- liZeze li eys p% Fvv,c 7i»r3 MBF Board of Directors (page 2) Beatrice Louissant Chief Executive Officer Southern Florida Minority Supplier Development Council 9499 NE 2"d Avenue, Suite 201 Miami, FL 33138 305-762-6151 Beatrice@sfmsdc.org Louis McMillian Global Investment Realty 235 NE 25th Street Miami, FL 33131 305-469-8400 Louis@globalinvestmentrealtv.com Pablo Perez -Cisneros Retired 1420 Brickell Bay Drive Miami, FL 33131 305-373-8104 pablopcisneros@bellsouth.net Bob Powers Retired 565 NE 66 Street Miami, FL 33138 305-299-0052 bob powers@bellsouth.net Non -Board Committee Members Michelle Barton King Barton King Soret Founding Partner 4000 Ponce de Leon Blvd, Suite 470 Coral Gables, FL 33146 305-864-2519 mking@bksmiamilaw.com Education Committee Adam Dunshee Retired 500 NE 50th Terrace Miami, FL 33137 (303) 725-8098 adam.dunshee@gmail.com Loan Committee Elizabeth Morton Fabricant Morton & Company 100 SE 2nd St. #2311 Miami, FL 33131 305-371-2830 liz@Ifabricantcpa.com Finance & Audit Committee Kathleen O'Neil Retired 3301 NE 5th Avenue Apt 310 Miami, FL 33137 786-514-2111 KLOneii@me.com Finance & Audit Committee June 2012 SUBMITTED INTO THE PUBLIC RECORD FOR ITEM1 ONo7/2/,. Pt* �o °_;: IAMI BAYSIDE FOUNDATION o Advancing the City of Miami through the support of minority businesses and education ANNUAL REPORT OUR MISSION The Miami Bayside Foundation is a nonprofit organization designed to advance economic development in the City of Miami through the support of minority businesses and education. The Miami Bayside Foundation seeks to do this through they creation and administration of a loan program for minority businesses, through the creation of programs and cducatiorull scholarships for minorities, and by providing technical assistance to Local organizations engaged in economic development. www.miamibaysidefoundation.org LETTER FROM THE CHAIRMAN tbr.11arch 2.2011.thenewly ai+l' u 1is,u+' of the :Atlanta li,n•side Foundation pane,' Pain It"eller, (:(.P liursidc Atarkaphhe as,. Vice ( 'hair of the ! znulation. as she presenlc. a check lot .S.,tf).timTA 10 th,• nr`oni:atiu. 'the amount rehre.cotted the ref,til:ontr, 211111 tinnri1,utiar. ;drove 1 ouis Ail t'hair al the 1'uutnlatfons Luau t:ommatr, recognizes Joel an, l Leticia Prolla,'k Panther(-+rll+','. 1.1-(- One,+t fhe r•eri' first loan aJ 21)11. ANNUAL REPORT A Year of Notable Achievements Dear friends and supporters, We began 2011 with the creation of a new loan program for minority businesses in the City of Miami and ended the year with the financing of six loans that created 31 jobs. In June, the Foundation made a gift of $200,000 to Florida International University, which increased in value to $350,000 with State of Florida matching funds. The gift established both a scholarship endowment and a scholarship fund for first -generation students studying business and entrepreneurship and living in the City of Miami. After having restructured the scholarship criteria in 2011, the Foundation awarded 55 scholarships to students studying entrepreneurship at Miami Dade College, all residents of the City of Miami. We partnered with the Mictrni Chapter of SCORE, a national association that counsels small business owners by connecting them with senior -level mentors and hosting management workshops. The local chapter has been instrumental in providing our loan applicants with a greater knowledge of how best to run a small business by providing 89 programs throughout the year. In October, we had our first Networking Event with loan and scholarship recipients, representatives of FIU and Miami Dade College, community leaders and members of our Board. This event, together with media coverage throughout the year, helped raise awarenes of our programs and how they help advance economic development in the City of Miami through the support of minority businesses. I ant grateful to each member of the Board of Directors for their time, expertise, and enthusiasm and for their commitment to helping fulfill the Foundation's mission. I am especially grateful to Bayside Marketplace and to General Growth Properties, who since the creation of the Foundation in 1986 have been instrumental in the Foundation's growth, for their continuing and very generous support. As we look forward to another great year, we are working on a gift to endow a scholarship fund at Florida Memorial University, streamlining our loan program, and looking for different and better ways to reach a larger segment of our community through loans and education. Sincerely, ROBERT POWERS, Chairman SUBMITIED INTO Tg PUBLIC RECORQ �RFOR lTEM oq r ON���. FUNDRAISING Thank you to our donors At ro ltfect lido Owpubic darnt'h• 7 iniammivsoi Cep CAW "GGP Bayside Marketplace his been instrumental in the Fouudatiorrs growth since its creation in 1986. I am especially grateful to GGP for its continuing and very generous support." ROBERT POWERS, Chair -mart $2,000 GREATER MIAMI CONVENTION & VISITORS BUREAU $1,000 TOTAL BANK $500 KORGE & CO. CITIBANK GREATER MIAMI CONVENTION & VISITORS BUREAU TOTALBANC A subsidiary of Banco Popular Espanol, S.A. fiKarp &COMPANY citi How CAN You HELP Us? Advancing economic development in the City of Miurni can come only as a result of multiple organizations working together toward a common goal. By partnering with the Miami Bayside Foundation, organizations have an opportunity to impact job creation, encourage econornic development, support tornorrow's leaders and improve the future of the City of Miami's core economic center. To LEARN MORE ABOUT SPONSORSHIP OPPORTUNITIES OR TO DONATE TO THE FOUNDATION, PLEASE CONTACT Executive Director, Kathleen Murphy at info@miamibaysidefoundation.org. 25 SF. aNrl AVENUE, SUITE 240 I MIA,h1I, FLORIDA 33131 I T (305) 379.7070 I Wit'W.M1AMIR.il'S1DErOUNDATION.OR(; EDUCATIONAL PARTNERSHIPS "This experience was humbling and allowed are to be surrounded by individuals who have started their business in Miami and ure creating additional opportunities for others like myself." WILBERTINE BERKELEY, Fall 2011 Recipient, Miami Dade College One of the Foundation's most rewarding initiatives is funding scholarship endowments. Revitalizing an almost $1 million endowment fund at Miami Dade College, 55 scholarships ranging from $500 to $1000 were awarded this year. The Foundation worked diligently with Miami Dade College leaders to reach City of Miami minority students in need, which culminated with a celebratory networking event in October. Widening its efforts to help future minority entrepreneurs in the City of Miami, the Foundation's 2011 Education Committee voted to endow additional higher learning institutions. In June, the Foundation announced a gift of $200,000 to Florida International University with State of Florida matching funds resulting in a total impact of $350,000. Centered above, FIU President Mark B. Rosenberg (right) recognizes Foundation Chairman Robert Powers. Part of the gilt will fiend the First Generation Scholarship Program for students who are the first generation in their families to earn a college degree. "The scholarship was a vital financial boost in a moment that I needed the most help." CARLOS CORDOVES, Fall 2011 Recipient, Miami Dade College "The Miami Bayside Foundation's scholarship really helped me to achieve my goals, and 1 hope in the near future to be able to help others like they've helped me. I know how important education is and the Miami Bayside Foundation is helping people like me and other recipients to become a successful business person." ALISSON Dos SANTos, Fall 2011 Recipient, Miarni Dade College poi FLORIDA INTERNATIONAL UNIVERSITY IFind us on Facebook Like Us on Facebook! Facebook.com1M1amiDadeScholarship LrloMiami Dade College (<)2012, Imagery and couten[ property of Miami Bayside Foundation. Design by ALA Studio, Inc. All rights reserved. HISTORY I BOARD OF DIRECTORS I TRUSTEES In the early 1980s, prior to the ground -breaking of Bayside Marketplace, the City of Miami and famed Bayside Marketplace developer Jim Rouse began discussing ideas for an organization that would support minority entrepreneurs in the City of Miami. In 1986, the Miami Bayside Foundation was created from this partnership as a means to revitalize and serve the City of Miami's downtown economic core. Since then, the Miami Bayside Foundation has thrived from the retail center's commitment to assist the Foundation. During 2011, the Foundation received invaluable support from Bayside Marketplace's ownership, staff and General Manager and Foundation Vice -Chair, Pamela Weller. This successful partnership created nearly 25 years ago only continues to thrive. Today, GGP Bayside Marketplace remains committed to advancing minority businesses. Further emphasizing GGP's promise, more than 75 percent of the retail center's businesses are minority -owned. Together, GGP and the Miami Bayside Foundation are positively impacting the lives of many in Miami. MIMI I I1:1J uu V I nt PUBUC CO FOR 2010-2012 BOARD OP DIRECTORS Chairman Treasurer Secretary Vice -Chair Robert Powers Josie Legido Correa DOWNTOWN MIAMI PARTNERSHIP, INC. Maria Korge KORGE & Co. Pamela Weller BAYsrnr. MARKETPLACE Executive Director Kathleen Murphy 2010-2012 TRUSTEES Rolando Aedo GREATER MIAMI CONVENTION & VISITORS BUREAU Benny Carmona TOTALBANK Jeff P.H. Cazeau KLEINER & CAZEAU P.L. Luis Cuervo CAMACOL LOAN FUND PROGRAM Bill Diggs '.MIAMI DADE CHAMBER OF COMMERCE Nicole Ewan CITY OF MIAMI Nathan Kurland LICENSED RF..ALTOR Beatrice Louissaint SOUTHERN FLORIDA MINORITY SUPPLIER DEVELOPMENT COUNCIL Louis McMillian GLOBAL INVESTMENT REALTY Pablo Perez -Cisneros RETIRED 2011 LOAN RECIPIENTS PANTHER COFFEE City Cie* PrisdPR A. Thompson A grateful recipie.nt,of the;.Foundation's loan program, Panther Coffee has revolutionized the local coffee scene since it opened in 2010. As the first recipient of the Miami Bayside Foundation loan, Panther Coffee used the loan monies to purchase equipment, attain capital for raw materials such as green coffee and hire seven new employees. Panther Coffee, based in Wynwood, is a specialty coffee roaster, retailer and wholesaler specializing in the small -batch roasting of coffee beans and the preparation of coffee beverages. "Traditional lenders seemed shy about such a new concept for this area and didn't feel comfortable. Yet, the Miami Bayside Foundation really listened to us and recognized our potential. Since the loan, we have exceeded our expectations and proven our position in the community." LETICIA POLLACK, Owner AVENUE D JAZZ AND BLUES LOUNGE This soon to open Downtown venue was able to purchase necessary equipment that would have been difficult to purchase without the help of the loan. "While some businesses are shutting their doors, we are opening new ones. The Miami Bayside Foundation loan program has been an invaluable boost during this difficult economic climate. We were able to secure a business loan that would have been impossible to achieve through traditional banking methods and the loan has enabled us to make significant additions to our new venue. We are extremely grateful to the Miami Bayside Foundation for the loan." WILL EDWARDS, Owner THE STAGE The Stage, located in the famed Design District, is a hub for live music, art, and film. Offering a large space, high ceilings, comfortable seating, three bar locations and art -lined walls by some of South Florida's best talent - this venue showcases great music nightly, all adding to the City of Miami's ever-growing cultural scene. Since receiving the loan, The Stage has hired seven new employees. "Miami Bayside Foundation helped us finalize our construction and capital needs in order to commence operations in a timely manner. The process was easy and the terms are extremely competitive, especially for a start-up. Their program is a true economic stimulator in the City of Miami and we look forward to seeing more growth in the City because of their programs." CARLOS GARCIA, Partner 2011 LOAN RECIPIENTS item °7 i A. !hat t /21MR DEVELOPMENT CORP. IMR is a minority, disabled -service veteran and woman -owned city 0.0 business. A family -operated company, IMR provides construction "'�7 management, professional services and electronic security for its clients. Recent projects include remodeling of the data center at the VA Miami Medical Center and project control of the Noel Lesley Super Bowl XLVI. They have hired nine new employees since receiving the loan. "In this economic climate with credit being tight for small business, the Miami Bayside Foundation really came through for us. Their effort to secure a business loan for us has given us a tremendous boost. We were able to purchase a company vehicle, and establish both lines of credit and national supplier accounts that we would not have been able to do otherwise." KEITH JENNINGS, Senior Vice President NICE TRANSPORTATION SERVICE Nice Transportation Service has proudly served the Department of Veterans Affairs Miami Healthcare System for the past 19 years. Nice Transportation Service provides veterans with non -emergency transportation throughout the City of Miami, Miami -Dade County and most of the State of Florida. "1 sincerely thank the Miami Bayside Foundation for helping my company receive a business loan when most banks discontinued our line of credit due to the economy. We now have money for working capital and have expanded business by purchasing more vans." CARLOS JIMENEZ, President DOORS INC. Woman -owned and operated, Doors Inc. supplies, fabricates and installs steel doors, security gates, fences, railings and miscellaneous metal work for structural, fire code and life safety compliance from its Little Haiti location. Clients include high-rise condominiums, office buildings and hotels. They have hired six employees since they received the loan. "At a time when credit was unavailable to small businesses, the Miami Bayside Foundation provided not only the financial boost we needed, but also a vote of confidence that we can and will survive. Since receiving the loan last month, we have already been able to secure new business and hire new employees." CLARE WHELAN, CEO 2011 FINANCIALS record II aunrid�lr m iktik ,m _A• / �otr Priscii+-• A. ThrKti:445n City • FOR TIIE YEAR ENDED December 31, 2011 (audited) Statement of Activities Revenues Contributions $314,695 Investment Income, Net (18,784)* Interest and Other Income 8,164 Total Support and Revenue $304,075 Expenses Program Services $265,011 Supporting Services 55,589 Total Expenses $320,600 Change in Net Assets (16,525) * Statement of Financial Position Assets Cash and Cash Equivalents $572,766 Investments 478,023 Loan Receivables 245,196 Total Assets $1,295,985 Liabilities and Net Assets Unrestricted 1,295,985 !i}tal Net Assets $1,295,985 The complete, audits! .\(iami Bayside Foundation Financial Report is available upon request.