The voice of urban opportunity
ICIC’s partners gain as well as give
ICIC’s partners see market opportunity where others see only challenges. In almost every case, we forge working partnerships with these visionary organizations.
Our work with institutions and foundations helps advance knowledge of inner city economies and the economic strategies that inform successful urban policy.
Our corporate partners are in a position to directly increase inner city economic vitality by creating a shared value with their communities, and they do. ICIC helps them identify market opportunities, potential vendors, investments and public sector allies that are often invisible to their competitors.
Most big U.S. corporations know more about China than they do about our own inner cities. ICIC’s corporate partners are discovering untapped possibilities a lot closer to home.
ICIC is funded by program and event revenues and grants from corporations and foundations. ICIC engages private-sector resources through a new concept of corporate philanthropy that draws on the core strengths of nationally recognized companies to identify market opportunities and leverage ICIC’s research.
Sustaining National Partners
ICIC is partnering with Goldman Sachs to lead the application and selection process for the 10,000 Small Businesses initiative, a $500 million commitment to provide education mentoring, technical assistance and capital access to underserved businesses through community colleges and community development financial institutions.
Staples Foundation and ICIC developed the Inner City 100 Hall of Fame to recognize a subset of Inner City 100 companies that have demonstrated five years of sustained growth. Over the last 13 years, 43 companies have been inducted into the Hall of Fame, employing more than 4,000 workers and posting a revenue CAGR of 53%.
Chevron Corporation and ICIC created the Dorothy Terrell Community Impact Award, which is presented annually at the Inner City 100 Summit to the Inner City 100 company that had the greatest impact on its community. Measurements for the award include quality job, income and wealth creation and engagement.
Bank of America
Through Inner City Capital Connections (ICCC), Bank of America and ICIC have identified investment-ready companies in more than 70 different inner cities. ICCC is the country’s only program that teaches growing inner city companies about capital and matches them with investors. Since 2005, participating companies have raised more than $406 million in capital.
ICIC is grateful for the generosity of many corporate partners, foundations and individual contributors who provide funding to support ICIC’s mission.
The following individuals and organizations contributed $25,000 or more to ICIC in 2011/2012.
- Bank of America*
- Josh and Anita Bekenstein
- Boston Consulting Group*
- The Boston Foundation
- Chevron Corporation*
- Community Foundation for Southeast Michigan
- Economic Development Administration
- Paul and Sandy Edgerley
- Edward Jones
- The Eos Foundation
- Garfield Foundation
- Goldman Sachs Foundation
- Barbara and Amos Hostetter
- W.K. Kellogg Foundation
- The Kresge Foundation
- Michael Krupka and Anne Kubik
- Next Street*
- John D. and Catherine T. MacArthur Foundation
- Mark Nunnelly and Denise Dupre
- Steve and Judy Pagliuca
- Pershing Square Foundation
- Michael E. Porter *
- The Rockefeller Foundation
- Saint Paul Port Authority
- Staples Foundation*
- State Street Corporation
- Surdna Foundation
* Indicates a partner who has annually contributed $25,000 or more to ICIC for past five years (2008-2012).
To learn more about what your organization can do with ICIC, contact Judi Reed, ICIC’s Vice President for Corporate Strategy and Partnerships, at email@example.com or 617-297-3122.
Bank of America, Chevron, Goldman Sachs and Staples
Why we support inner city business development
Our internal associate base gets value out of this. People want to work for an institution that does positive social things. Every time we do an event with ICIC and we put it on our internal website, I get twenty to twenty-five calls asking, How can I be helpful?
Bank of America Capital Access Funds