FUND Consulting

Project:

Market Study, Business Development Strategy, Investor Packet, and CDFI Certification Application

Need:

To develop and launch a CDFI Loan Fund

Client:

Wayne Metro Community Action Agency

Description:

In 2010, Wayne Metro contracted with FUND Consulting to assist in the potential launch of a non-profit CDFI Loan Fund in their community.

The first step in this process, completed in August 2010, was a comprehensive market study. The methodology consisted of key informant interviews, the collection and analysis of secondary data, and a survey. After analyzing the results of the research, FUND Consulting determined that there was need and demand for a non-profit CDFI Loan Fund and specifically a credit builder loan program. FUND continued the process by developing a business strategy, completed in January 2011. This report presented the most successful loan fund models and provided specific strategic recommendations on which product features would be most successful in the market.

In April 2011, FUND developed an implementation plan for offering a credit builder program, which included marketing copy, the loan application, and the loan’s underwriting policies, and an investor packet. In December 2011, Fund completed the final step in establishing Wayne Metro as a non-profit CDFI Loan Fund by preparing and submitting their CDFI Certification application.

Project:

Market Analysis

Need:

To inform future planning efforts

Client:

Illinois-Service Federal Savings and Loan Association (ISF)

Description:

.In June 2010, FUND Consulting completed a market study for ISF that included key informant interviews with community stakeholders, the collection and analysis of secondary data, an analysis of customer loan data, and a survey of current customers.  The FUND team delivered a comprehensive final report and presented the findings to the Board which included recommendations and strategies to deepen and expand the reach of ISF within its service area. The data was used as part of a CDFI Financial Assistance application, which resulted in a grant of $1.5 million for ISF.

Project:

Market Analysis

Need:

To identify strategies to meet need and demand in the target market

Client:

Metro Community Development (MCD)

Description:

FUND Consulting designed and implemented a market study, using a multi-method approach including key informant interviews with industry partners and affiliates, the collection and analysis of secondary data, and a survey of former MCD clients. The researched resulted in a robust data set used for the development of products, policies, and business strategies to respond to need and demand for financial services in the target market.    FUND Consulting delivered a comprehensive final report and presented the findings and recommendations to MCD Board and Staff. The data was used as part of a CDFI Financial Assistance application, which resulted in a grant of $1.5 million for MCD.

Project:

Market Study

Need:

To assess the opportunity for market expansion

Client:

First State Community Loan Fund (FSCLF)

Description:

FUND Consulting designed and implemented a multi-method research strategy to collect robust data on FSCLF’s market place designed to assess the opportunity for market expansion. FUND Consulting’s methodology included key informant interviews, secondary data analysis, and a competitive scan. The comprehensive final report outlined the data collected, conclusions drawn from the analysis of all data sets, and recommendations for moving forward with the proposed market expansion. The conclusions and recommendations were presented to and discussed with FSCLF’s staff and Board in a final presentation in August 2011.

Project:

CDFI Readiness Assessment

Need:

To assess the potential for CDFI certification

Client:

Neighborhood Concepts, Inc. (NCI)

Description:

In May 2011, NCI engaged FUND Consulting to complete a CDFI Readiness Assessment to understand the organization’s potential of becoming a CDFI. The FUND Consulting project team analyzed the organization, its financials, and its Board to assess fulfillment of the seven requirements to becoming a CDFI. Based on these findings, FUND Consulting completed and delivered a final report outlining which of the seven requirements NCI fulfilled with recommendations and strategies on meeting the remaining requirements. NCI is currently implementing the recommended strategies in an effort to become a certified CDFI in the next one to two years.

Project:

CDFI Readiness Assessment and CDFI certification application

Need:

To become certified as a CDFI

Client:

Harlem Entrepreneurial Fund (HEF)

Description:

In 2011, HEF engaged FUND Consulting to complete a CDFI Readiness Assessment to understand the organization’s potential of becoming a CDFI. The FUND Consulting project team analyzed the organization, its financials, and its Board to assess fulfillment of the seven requirements to becoming a CDFI. Based on these findings, FUND Consulting completed and delivered report outlining which of the seven requirements NCI fulfilled with recommendations and strategies on meeting the remaining requirements. Once those recommendations were implemented, FUND Consulting completed and submitted a CDFI certification application which included comprehensive narratives on each of the seven required CDFI criteria and an assembly of all required attachments including the creation of tables and a map. The application resulted in the certification of HEF as a CDFI.

Project:

Market Study

Need:

To identify niche markets and expansion opportunities

Client:

Initiative Capital

Description:

FUND Consulting designed and implemented a state-wide market study using a comprehensive set of research methods including key informant interviews, a client survey, secondary data analysis, and a competitive scan.  The research resulted in a rich data set which, after analysis, described the organization’s competitive landscape, assessed the level of need and demand for their products, and identified potential niche markets.  The conclusions and recommendations were presented to Initiative Capital’s staff and Board in a final presentation in February 2012 and informed the organization as it expanded its market throughout the state.

Project:

Market Study

Need:

To identify strategies to increase visibility in the market

Client:

Community Development Corporation of Long Island (CDCLI)

Description:

FUND Consulting designed and implemented a comprehensive, multi-method approach to yield a robust data set necessary for the development of strategic implications and recommendations for enhancing visibility in the market and increasing deal flow. The methodology included focus groups, key informant interviews, surveys, and secondary data analysis. FUND Consulting delivered a comprehensive final report and reviewed the proposed recommendations in a working session with CDCLI staff.

Project:

Feasibility Study

Need:

Assess the organizational future of NFEC

Client:

First Nations Oweesta / Native Financial Education Coalition

Description:

In 2006, the Native Financial Education Coalition (NFEC) contracted FUND Consulting to make recommendations regarding whether the NFEC should become an independent, incorporated national intermediary or continue under the management of Oweesta.

To address this question, FUND Consulting performed a multi-layered research study involving several major components: (1) an online member survey, (2) phone interviews, (3) a scan of the native financial intermediary market, (4) a structural analysis of similarly situated national organizations, and (5) an organizational assessment of NFEC. The quantitative and qualitative data from all of these research phases was analyzed by the project team in order to answer the key research questions.

Based on the analysis, FUND Consulting offered strategic recommendations and an action plan for moving forward. The project team presented their detailed findings in the form of charts, graphs, tables, and an extensive report to support their suggestions. The team also provided follow-up services and made several presentations to clarify and expand upon their findings. The organization is currently in the process of implementing these recommendations.

Project:

Annual Service Package

Need:

Ongoing capacity building support

Client:

International Bank of Chicago (IBC)

Description:

FUND Consulting has been working with the IBC family of organizations for over 6 years on an annual retainer basis. The FUND team has helped IBC successfully submit 8 funding applications totaling nearly $10 million. Additionally, FUND has conducted marketing analyses, analyzed service distributions patterns, assessed community needs, and used such information to develop comprehensive marketing, capitalization, and strategic plans for the organization. Finally, FUND consulting coordinates the tracking and reporting of performance indicators for use in management and compliance, and serves as IBC's liaison to key funders on an ongoing basis.

Project:

Grantwriting

Need:

Loan fund capitalization

Client:

Citizen Potawatomi Community Development Corporation

Description:

FUND Consulting has been working with the Citizen Potawatomi CDC, a non profit community development organization, to secure funding for organizational capacity building and project specific initiatives. In 2005, the FUND team wrote a successful grant application for $650,000 to the CDFI Fund and followed this up in 2006 with a successful grant application for $635,000. Also in 2006, FUND prepared a proposal for CSBG funding of the construction of the Citizen Potawatomi Business Development Center resulting in an award of $700,000. In total, over the past two years, FUND proposals have resulted in almost $2 million in funding for the organization. As a result, the organization has been able to fund and better support more small businesses that are creating jobs in the local area.

Project:

Program Evaluation

Need:

To increase program efficiency and effectiveness

Client:

Arcata Economic Development Corporation

Description:

FUND Consulting worked with AEDC to evaluate the current lending strategy of the Arcata CDBG Program and how it fits into the larger goals of the city of Arcata. The methodology for this project included the review of documentation (including the two volumes of Arcata's recent strategic plan), an evaluation of relevant market conditions, and interviews with AEDC staff. FUND Consulting presented its findings and recommendations in a written report and during a conference call with AEDC representatives.

Project:

Stategic Planning and On-going Support Services

Need:

To improve planning and marketing efforts

Client:

Cancer Support Center

Description:

The Cancer Support Center, a non-profit organization providing no-cost support to those affected by Cancer, initially engaged FUND Consulting for strategic planning in 2008, including an environmental scan and facilitated strategy sessions.  Since then, FUND has remained a valued partner to the organization most recently seeing the organization through a leadership transition by providing executive coaching services, as well as supporting a ramp-up in marketing and fundraising efforts with a marketing audit and a brand standards guide.  FUND continues in an advisory role providing strategic guidance to the Executive Director and Board President.

Project:

Facilitation of a Board Fundraising Training and Planning Session

Need:

To increase board participation in fundraising activities

Client:

Music Theater Workshop

Description:

FUND Consulting developed and presented a session at the Music Theatre Workshop's January, 2005 board meeting. The presentation provided information on board fundraising key issues including key functions of governing boards; the board member as fundraiser; best practices of boards today; practical strategies for becoming a fundraising board. The FUND facilitator used this presentation as a framework to help explore the board's current fundraising capacity, and to brainstorm strategies for increased board effectiveness in fundraising. The result of this session included the development of new fundraising strategies designed around board member's comfort levels, strengths, and availability.

Project:

Market Research

Need:

To develop a marketing plan

Client:

Council for Adult and Experiential Learning

Description:

The Council on Adult and Experiential Learning (CAEL), an institution promoting adult-learner focused research and policy, requested the assitance of FUND Consultants in conducting market research for the Illinois Student Aid Commission. FUND Consultants gathered extensive information on adult learners and developed a final report on recommended marketing initiatives to adult learners.