Fighting Poverty ~ Ceating Jobs ~ Creating Wealth

Creating community economic development engines that focus on Job Creation:

COMMUNITY ECONOMIC DEVELOPMENT CORPORATIONS

FMCRC Assets & Hope

Florida Paradigm Shift:
Community Economic Development Corporations

A Market-Based Approach To:
Revitalization of Florida Minority Low-Moderate Income Communities

Assets & Hope Team:

• Al Pina-Former TELACU VP and Chair of FMCRC
• Reggie Clyne, Attorney - Legal Governance
• Nydia Menendez Esq. Attorney - Legal Infrastructures (Non Profit-For Profit Corporations)
• Roland Sanchez Medina Esq. Attorney – Transactions (For Profit Corporation)
• Consuelo Herrera, CPA – Audit Structures
• Valerie Crawford, MBA – Corporate Infrastructure Development
• Vicky Callhoun, MBA- Assets & Hope Self Sufficiency Manual
• Roderick Harvey, CPA MBA – Accounting Infrastructure Development (Non Profit-For Profit Corporations)

Assets & Hope Initiative "Building Capacity and Self Sufficiency in Florida minority organizations"

FMCRC, along with key consultants, will engage Florida minority non profits to adopt and execute a proven Self Sufficiency Model that will allow for expanded programs and services to Florida minority and under served low and moderate income families.

Assets & Hope Self Sufficiency program will utilize a proven For Profit model that is replicated from the country’s largest and most effective minority CDC-TELACU: A Community Economic Development Corporation.

This model is driven by sound business principals.  Nonprofits, just like businesses, need to focus on building the capacity of their entire organization if they want to maximize their social impact. Both board and staff need to dedicate themselves to raising capacity building to the same level of importance and attention as program development and management – to think early and often about strengthening the organization in lockstep with implementing programs.

The FMCRC Assets and Hope program will focus on Capacity building efforts that include a broad range of approaches, e.g., legal and corporate structures, accounting principals, for profit management principals and practices.  Assets and Hope is centered on providing coaching, supporting collaboration with key self sufficient non profits in the United States and providing Florida minority non profits with exportable Legal, Accounting and Corporate models that will position their organizations to develop a self sustaining Community Economic Development Corporation.

The Community Economic Development Corporation (CEDC) serves as the economic engine for targeted Florida minority low-moderate income communities.  The CEDC utilizes both a non-profit corporation and a for-profit corporation (wholly owned by non-profit) to create jobs for distressed communities that will battle both poverty and unemployment. 

Utilizing a market based business model, the CEDC owns and operates businesses that have a double bottom line:  profitability is inseparable from social impact.  The parent non-profit CEDC owns and operates companies through its For Profit Corporation. These for-profit businesses not only provide valuable products and services to the community; but they also provide the economic means for the CEDC (non-profit) to sustain its non-profit community-focused programs and services.  This CEDC model utilizes a framework that was developed by TELACU, the most successful CEDC in the United States.

FMCRC Assets & Hope CEDC Framework:

• Utilization of Market Based Community Economic Development Model to Create Jobs in target minority low-moderate income community
  
  
• Primary Function:  Integration of Inner City Assets (consumption, labor, small business etc…) into Local and Regional Economy
  
  
• Utilization of For Profit Model Community Economic Development Corporation (CEDC) (Non-Profit/For-Profit Arms) As Community Economic Development of Target Minority Community
  
  
• CEDC serves as “Master” community development mechanism for targeted minority community (Service Area)
  
  
• Primary economic development measurements for CEDC:  poverty and unemployment rates (Jobs, Jobs, Jobs)
  
  
• Primary community economic development focus:  small business development-workforce development-community economic development projects

Target Cities:  Liberty City, North Miami, West Palm Beach, Jacksonville, West Tampa and Ft. Lauderdale

Core Strategies:

The core strategies of FMCRC Assets for Hope is to educate, train and mentor the organizations and their leadership to identify market based growth opportunities that will create wealth for both their target community and its residents.  As developers of real estate projects in their communities for affordable housing, industrial and commercial real estate, service and construction industry and as owners and developers of such projects, local CEDC’s are then at the helm of creating wealth and job opportunities for their communities and its residents.  As participants in the development of their communities, they can create jobs, provide financing for small business startups, encourage entrepreneurship, provide financial education for first time home buyers, promote higher education for new technology (GREEN) employment opportunities, and invigorate and support education and health initiatives in their communities.

||| @ 2021 Assets and Hope | 701 South Howard Ave. suite 106-147, Tampa, FL 33606 | Phone: (813) 391-4628 | Email: vortega@fmcrc.org