2015 Annual Report
This year marks Revelstoke Community Future’s first full year of operation in our new office space. Save for a few minor deficiencies which should soon be ironed out, all is going well. Our very successful cooperative and collaborative partnership with our building’s co-owners, the City of Revelstoke and Chamber of Commerce, remains the envy of many communities.
Revelstoke Community Futures once again exceeded our lending targets with 17 loans approved totalling $830,662 for the year. These loan recipients contributed $680,662 in equity towards the creation or expansion of their businesses. Staff provided 374 business advisory services to 215 clients. These services helped 28 businesses in the creation or maintenance of 29 jobs.
Based on our sound management and good governance, Western Economic Diversification awarded a three year contract for operational funding, and the opportunity to transfer $50,000 in interest income for direct funding of community economic development projects.
While lending and business service remain our lifeblood, it is not all we do. During the year, thirty one partnerships were formed to deliver twenty community economic development projects valued at $1,415,529.
As an example of our community involvement, we are pleased to donate considerable staff time to help get the affordable housing project off the ground. Kudos to Debra Wozniak for her yeoman’s work in navigating the often unfathomable and obtuse bureaucracies involved.
Another exciting project is a partnership with Columbia Basin Trust, UBC Okanagan, Rural Development Institute, City of Revelstoke and Chamber of Commerce to conduct a local business retention and expansion survey. The information gathered will help in planning programs and services to assist local businesses and improve the local economic climate.
Community concerns have been raised about the financial literacy, business savvy and entrepreneurial skills of youth. To address these shortcomings, staff has been delivering the Junior Achievement Program. This year, the program was introduced to Grade 6 and 7 students.
Other examples of staff and board member time being donated to community work include participation on the High Tech Task Force, Community Foundation, Revelstoke Volunteers, Revelstoke Museums and the Social Development Committee.
Recent directives from our core funder, Western Economic Diversification, require that Community Future’s directors and committee members serve no longer than nine years. It is with regret that Dean Hunter, Jan Morehouse and I will be leaving the organization this year. Dean was a founding board member of Community Futures and a member of the loans committee since inception. For the past twenty eight years Dean has been a strong advocate for the organization and its impact on small businesses and the area’s economy. His insight and enthusiasm will be greatly missed. Jan has been a committed and active member since 2000. She leaves as our able and trusted treasurer and a highly valued executive committee member. Her insight positive attitude and sense of humour will be missed. For me, as a lifelong entrepreneur, it has been a pleasure and privilege to be associated with this organization for the past eighteen years and the people who surround it that have done so much to support small independent business.
We have had many successes this year and perhaps our most important achievement was the almost seamless implementation of the staff succession plan. Congratulations are in order for the architects of the plan as well as the talented people who have so ably filled the vacant positions. Our success continues to be built on a strong foundation with good people at its core. The board wishes to thank all our volunteers, self employment and loans committee members and staff: Kevin, Cindy, Debra, Roberta and Brooke for jobs well done.
Mike Cumming, Chair
Community Futures Revelstoke
View the full 2015 Annual Report