What's New

VCC Sixth Annual Luncheon-Insights and Illumination

12/30/2011

The Sixth Annual Luncheon for Virginia Community Capital (VCC) held December 15 at Richmond’s Jefferson Hotel featured ample doses of information and inspiration. With the theme of “Impact and Innovation,” the event celebrated the performance benchmarks signaling continued growth at VCC. The attendees also participated in real-time surveys displaying immediate feedback and providing VCC leadership with a reading on perceptions and awareness of issues facing the Commonwealth.

President & CEO Jane Henderson reviews real-time survey results  Click picture to enlarge

Reporting to an audience of 200, VCC President and CEO Jane Henderson wove her comments around interactive exercises—making for a lively atmosphere. Her partner in the process was Richmond-based TMI, a leadership and organizational development consulting firm specializing in civic engagement, diversity, and innovation strategies. Using keypad clickers at each table, audience members voted on a wide range of topics. Based on the findings, small business lending and resources appeared to be at the top of many people’s minds.

VCC’s assistance to small businesses across the Commonwealth has been noteworthy.  This past year, the Small Business Advisory Services reported on a three-year initiative, which helped to create 141 jobs. Impact can also be seen in VCC’s significant growth in six years. “The original investment of $15 million in 2005 has now been leveraged eight times to create $128 million in lending,” Henderson informed the annual luncheon crowd. “And we are still growing. Each year now, VCC is lending about $50 million in new loan originations into Virginia’s communities.”

Dietra Trent from Senator Mark Warner's office listens intently

A videotaped greeting from Senator Mark Warner congratulated VCC for their work to date. He likewise urged all present to continue efforts toward rebuilding the American economy.

Keynote speaker, Andy Stefanovich, was another animated feature of the luncheon. The self-described Chief Curator and Provocateur of Prophet, a strategic brand and marketing consultancy, Stefanovich peppered his remarks with personal anecdotes and finished with a call for action.  “I want everyone to go out and encourage a young person to engage in community development,” he offered. Stefanovich led a learning session prior to the luncheon where he promoted purposeful disruptions and new frames of reference for leaders. (See more in companion article—“Laugh, Cry, and Think a Little.”)

Guests all received their own “Indivisible” red, white, and blue wristbands, a reminder of the ongoing Starbucks and Opportunity Finance Network (OFN) campaign, Create Jobs for USA. The innovative initiative pools donations from Starbucks customers and concerned citizens into a nationwide fund for community business lending. Donations go to creating and sustaining jobs with an emphasis on low-income, low-wealth, and disadvantaged communities.

VCC staff express their support of the Create Jobs for USA program

In November, when the Starbucks/OFN program launched, VCC received a $173,500 grant from the Create Jobs for USA Fund in their first round of awards to CDFIs across the nation. The award will be used to create and preserve jobs.

Impact Highlights from VCC’s Annual Luncheon:

• Loans originating over $128 million
• Leveraged total $266 million
• Total project impact $394 million
• Affordable housing: 3,856 units with 1,041 new and 2,815 rehabbed
• Jobs created: 1,187 with 859 new and 328 retained
• Real estate development: 853,000 square feet of new and rehabbed commercial and 3,640,000 square feet of new and rehabbed housing
• Advisory services: over 3,000 hours of assistance

Thanks to our Luncheon Sponsors, Partners and Friends
(click on thumbnail to enlarge)