The non-profit sector is in an exciting period of change and growth, and Strive DC is helping to lead the way. Strive DC is as focused on outcomes and efficiency as any for-profit company. We are exploring creative new avenues to fund our programs and provide our clients with experiential learning opportunities.
Social Impact Bonds: Pay-for-Success Funding
Social Impact Bonds (SIBs) are a sustainable new funding mechanism for performance driven social service providers. Strive DC is working to bring the first SIB to our nation’s capital. This will provide sustained funding for us to focus on delivering our mission and spreading our work. How a SIB works:
Private investors will agree to fund a Strive DC workforce development program. Repayment to the investors from the government or a private foundation is based on the program’s success in reaching predetermined goals. Reaching the first set of goals will result in repayment of principle, with success above those levels resulting in a financial return to the investor. The payer agrees to this arrangement because the budgetary savings and/or social benefits of a successful program outweigh the repayment they make to the initial investor, and because they do not have to make any repayment in the case of a failed program.
• DC Community – A direct link between dollars invested in social services and the outcomes achieved.
• Strive DC – Working capital to focus on our mission, not fundraising. Opportunity to expand programs that work. Partnerships with other results-oriented service providers to more fully serve our clients.
• Government – Eliminate the risk of paying for ineffective programs. Fund immediate interventions where the results may not be felt for a few years.
• Investor – Rather than a one-time donation, make an investment that can be recycled over and over again, plus potentially grow. See how effectively your money is being used.
Market-Driven Workforce Development
Program-based enterprises are being used by visionary non-profits to provide both self-sustaining revenues and real world work experience for clients. The Ties initiative is a fashionable necktie line that brings to life Strive DC’s mission of sharing social capital throughout the DC community. Customers will not only be buying a high quality necktie that symbolizes their commitment to the DC community. Their purchases will also contribute to Strive DC’s new professional networking program T.I.E.S. (Training Individuals to Excel in Society) and provide valuable internship opportunities that reinforce skills taught in Strive DC’s training programs, acting as a bridge between Strive DC and a fulfilling career. STRIVE DC is seeking business expertise of leading Men’s business clothing retailers to turn T.I.E.S. into an a profitable program based enterprise.
Centered around operating a professional men’s clothing store and standard customer service and retail management positions, the T.I.E.S. program is designed to cover basic operations of an men’s clothing store and a apparel manufacturer. The program is open to STRIVE DC graduates, and will be a collaborative partnership between STRIVE DC, A major Men’s Clothing Store, Georgetown University MBA school, and other partner agencies and local businesses.Divided into three levels (or tiers), STRIVE DC graduates will have opportunity to progress from Stock Clerk/Fulfillment to SALES/Martketing Reps to STORE Managers as they complete the full 24-week program. Certificates of completion awarded after each successfully completed tier.
Tier 1 is a three-week course that introduces graduates you to back store operations including stocking, fulfillment, maintenance and security.
Tier 2 is an intermediate six-week course that further refines customer service and sales skills, while emphasizing job readiness and the development of ‘soft skills.’
Tier 3 is an advanced five-week course that not only offers more independence within the Store environment, but also introduces supply ordering processes, shift supervision, and the skills required to train others.
Industry professionals provide both demonstrations and hands-on training in sales, buying, customer service and store operations. In addition, there are classroom lectures and examinations.