What proportion of Goal 1 overall is complete at this point?
30%
What are the barriers and opportunities for completion that impacted goal 1 in the last month?
Ensuring that RI has a well-designed community engagement implementation plan and implementation in our target neighborhood, Englewood. To this end, RI has partnered with Teamwork Englewood and EG Woode to host our first community design charette on Saturday, March 23, 2024. It took more time than anticipated to bring the parties together and work through our respective time availability.
What proportion of Goal 2 overall is complete at this point?
30%
What are the barriers and opportunities for completion that you impacted goal 2 in the last month?
We are participants in the University of Chicago Booth Social Impact Program who will complete a landscape analysis of businesses for sale and funding opportunities as part of their scope of work. This information is needed to finalize our overarching 2024 social acquisition strategy and it will not be completed until the end of March.
What proportion of Goal 3 overall is complete at this point?
10%
What are the barriers and opportunities for completion that you impacted goal 3 in the last month?
Developing infrastructure for a hybrid cooperative model has underscored the importance of gaining a detailed understanding of the prospective business we intend to acquire and the dynamics of its workforce. This emphasizes the prerequisite of identifying and evaluating potential acquisition targets before finalizing the structure of the hybrid cooperative model. Through research and assessment of prospective targets, we aim to gather insights that will guide our approach to infrastructure development in the future.
Did you access Technical Assistance for your CWB project last month?
Yes
Which TA provider(s) did you work with within the Phase I CWEB grantees?
| TA Provider | Hours Spent | Satisfaction |
|---|---|---|
|
Manufacturing Renaissance |
5 |
Very satisfied |
Which TA providers did you work with OUTSIDE of the Phase I CWEB grantees?
| TA Provider | Hours Spent | Satisfaction |
|---|---|---|
|
N/A |
1 |
Very satisfied |
Did someone from your organization attend the Working Group this month?
Yes
How would you rate the usefulness of the working group to your project last month? (on a scale of 1-5)
Somewhat useful
How would you rate the usefulness of the Working Group for building community?
Somewhat useful
What have been the two most valuable contributions of the Working Group this month?
Please share any comments about the working group meetings.
It was valuable to be introduced to DAWI. RI is a member of DAWI's co-op development training cohort.
How many TOTAL housing units did you preserve or create last month? (it is okay if the answer is zero)
0
How many TOTAL CWB businesses did you develop last month? (it is okay if the answer is zero)
0
Number of stakeholder meetings held related to your Pre-Development Project?
3
Number of community meetings attended last month related to your Pre-Development Project?
1
Service / Capacity
| Service | Capacity |
|---|---|
|
Accounting & Financial Management |
3 some ability |
|
Advocacy |
3 some ability |
|
Conflict Resolution |
1 limited ability |
|
Cooperative Development and Operations |
4 |
|
Education & Training |
4 |
|
Fundraising or Raising Capital |
3 some ability |
|
Governance / Legal |
4 |
|
Marketing & Communications |
2 |
|
Other |
5 extensive ability |
|
Project Management |
3 some ability |
|
Real Estate Acquisition & Development |
N/A |
|
Relationship Building |
5 extensive ability |
|
Research |
5 extensive ability |
Other (please describe and include ranking)
Category: Coalition Building RI has established a coalition consisting of the following organizations: 1) Manufacturing Renaissance- member of the MR EWS Advisory Committee 2) Project Equity- agreed to partner around acquisition, conversion and capital formation 3) MxD- joined as a member to gain assistance with acquiring advance manufacturing tools for business growth and reducing manufacturing companies carbon footprint 4) mHUB- RI is a member and housed at mHUB. This facilitates access to start-up innovation and intellectual capital 5) MTEC- as high-tech workforce development is critical for manufacturing companies; RI has entered into a very strong strategic partnership with MTEC to help train the workers of the future who can effectively negotiate the new digital economy 6) Teamwork Englewood- because Englewood is primary target community in 2024, RI has partnered with Teamwork Englewood to design and implement an effective community engagement process. 7) EG Woode- RI is partnering with EG Woode, a long-standing stakeholder and leader in Englewood, as well as design firm, to design our first community charette in March 2024 8) Chicago Community Trust- The CCT has provided support and encouragement to pursue our CWB strategy. 9) University of Chicago BSI- U of C awarded RI pro bono support to around identifying the specify vertical RI should acquire and convert to a worker-owned cooperative. 10) Obran- RI is in serious discussion about leveraging Obran’s capital fund to help acquire a manufacturing business. 11) Democracy at Work Institute (DAWI)- RI is a member of the 2024 Chicago Co-op Developer Training Cohort
What constraints or limitations with internal capacity is the organizarion experiencing related to its Pre-Development Project?
RI faces certain constraints associated with internal capacity, particularly concerning the identification and engagement of technical service providers within the CWB community. The challenge lies in obtaining clarity regarding the level of commitment from these providers to collaborate with grantees. This aspect is crucial for effectively leveraging external expertise and resources to support the project's objectives.
What opportunities, if any, did the organization take advantage of related to its Pre-Development Project?
RI has successfully capitalized on several opportunities aligned with our goals. We have established partnerships with key entities and individuals such as EG Woode, Teamwork Englewood, Project Equity, Manufacturing Renaissance, Bella Barner, and BSI. Notably, EG Woode and Teamwork Englewood contribute to community engagement efforts, fostering vital connections within the local community. Project Equity's involvement is instrumental in guiding our acquisition strategy and facilitating capital formation. Additionally, our membership in the Early Warning System Advisory System, hosted by Manufacturing Renaissance, enhances our capacity to identify manufacturing businesses available for acquisition. Bella Barner has provided invaluable insights as an advisor on our acquisition pitch deck, while BSI offers guidance on our acquisition strategy.
Please use this space to elaborate, contextualize, or add any additional info about the details submitted in your report:
In our strategic efforts related to acquisition and conversion, RI is actively conducting research and planning initiatives. As a key player in the cooperative community, RI, led by our Director of Operations, is committed to providing educational resources on governance and intellectual property to stakeholders within the cooperative sector. Our ongoing conversations with organizations like the Sustainable Economies Law Center reflect our dedication to conducting conversions with integrity and prioritizing the welfare of workers. Additionally, Director of Business Development Jamie Elder is leading financial modeling efforts and identifying business opportunities for acquisition, demonstrating our commitment to thorough planning and analysis in our acquisition pursuits.
