Interise

At a Glance

National Office: 
197 Portland Street, 2nd Floor
Boston, MA 02114
Phone: 617-350-6300

Jean Horstman
People Served: 
2,516
Year Founded: 
2004

Focus area(s):

Job/Career Development
Economic Development

See These Reports For More Information

Description

Interise is the go-to partner with a proven model for accelerating economic and small business growth in lower income communities. Interise licenses its Streetwise ‘MBA’™ curriculum to partners who deliver it through their own locally branded programs. Delivered by Interise’s partners, the capacity-building Streetwise ‘MBA’™ provides small business owners with the knowledge, know-how, and networks they need to achieve scale.

 

The StreetWise 'MBA'™ is a high touch, low volume program, built exclusively for second-stage growth companies in lower income communities – companies that survive start-up, achieve early growth, and are poised for further growth and scalability. Its value and scalability is less in the number of business owners that complete the program, but in how these businesses becomes part of the fabric of the B2B network and local procurement supply chain.

Now offered in over 70 locations nationwide, the StreetWise 'MBA'™ effectively and efficiently delivers impact. Alumni historically create new jobs at 5x the rate of the private sector as a whole, and have secured over $3 billion in government and institutional contracts. As alumni grow their businesses, they contribute to economic development, job creation, and the social resilience of their local community. 

Impact and Outcomes

1,320 net new jobs created in 2014 with an average starting salary of $61,855.
68% of participants from the last three years reported increasing revenue in 2011 by an average of $419,000.
38% secured new loans, with an average loan amount of $128,492.
49% reported doing business with government and anchor institutions, totaling $481M in new contracting opportunities.

Mission & Goals

Interise’s mission is to stimulate economic revitalization in lower-income communities through job creation, wealth generation, and the fostering of community leadership by enabling established small business owners, who have already demonstrated success, to further strengthen and grow their business.

 

Our StreetWise 'MBA'™ provides a diverse group of small business owners in low-to-moderate income communities with the management education (knowledge and know-how), access to new markets and peer networks, and additional resources needed to further grow their businesses. Leveraging the growth of established small businesses for economic development creates net job growth, business growth, and new community leadership.

 

The Interise Network builds stronger, more economically resilient communities, characterized by a strong small business community, an expanded pool of community leaders, increased civil engagement, and local economic integration to regional, national, and international markets. 

Program

Interise’s StreetWise 'MBA'™ is a 27-week program that facilitates access to new markets, capital, and knowledge through small business executive education, peer-to-peer learning, coaching, and networking opportunities. Participants invest 100 hours working on their businesses and learning the behaviors needed to continue to grow their businesses effectively.

The StreetWise 'MBA'™ has three components:

·         Peer-to-peer learning through small mentoring groups and 13 class sessions.

·         Hands-on, participatory classroom learning that integrates participants’’ live case analyses with curriculum readings, and insights from instructors and business guest experts.

·         The development of a three-year Strategic Growth Action Plan (SGAP).

Interise focuses exclusively on second-stage growth companies in lower income communities – companies that survive start-up, achieve early growth, and are poised for further growth and scalability. Ninety-three percent of Interise’s businesses are owned by women, minorities, and immigrants, or located in a lower income community.

The StreetWise 'MBA'™ facilitates access to new markets, capital, and knowledge through small business executive education, peer.

Impact

Interise prides itself on having an evidence-based model of change and success that is evaluated every year: the Social Impact Model. Since 2004, Interise has used a set of social and economic indicators to evaluate our entrepreneurs across the country. Interise uses this data to evaluate its effectiveness in promoting small business and energizing job creation in low-to-moderate income communities.

 

Upon entering a StreetWise 'MBA'™ cohort, a business owner completes an intake survey that serves as a baseline for their ongoing evaluation. Upon completion of the SWMBA, they complete a follow-up annual assessment for the next three years. Each year, we publish an impact report for the previous three years’ cohorts. All of our annual impact reports are available at www.interise.org.

Interise uses a formative evaluation process throughout its StreetWise 'MBA'™, allowing participants to provide feedback on the quality and usefulness of their learning experiences, which includes evaluation of all aspects of the program: sessions, instructors, materials, etc..

Likewise, Interise uses a summative evaluation process in our initial and annual surveys to measure the social and economic impact resulting from our programs. The data we collect pertain to annual revenues, number of new and retained employees, average starting salary of new employees, how many and value of any government contracts and loans, and their involvement in the community.

Our 2014 outcomes include (in Massachusetts and nationally) the following:

·         1,320 net new jobs created in 2014 with an average starting salary of $61,855.

·         68% of participants from the last three years reported increasing revenue in 2011 by an average of $419,000.

·         38% secured new loans, with an average loan amount of $128,492.

49% reported doing business with government and anchor institutions, totaling $481M in new contracting opportunities.

Growth Plan

Our own partnership-based business model is designed for growth. We approached scaling in very systematic way, using a wholesale, rather than retail, program delivery model. In our first ten years, in our first phase of scaling (2007-2014), we expanded our mission impact by licensing our research-based StreetWise 'MBA'™ curriculum to a network of delivery partners, including federal, state, and local government, small business associations, and universities. We identify and build relationships with delivery partners who are already established in their local communities.

Our model builds both our brand and our partners’ brands by enabling them to own their programs while offering our proven SWMBA curriculum. Through licensing our SWMBA, we build our partners’ capacity to serve and grow local small businesses in their community. As our national network of partners grows, so will our capacity to serve even more companies.

We are now in the third phase of scaling our program, by increasing the number of partners/licensees and over the next two and one half years plan to recruit new licensee/partners, and increase the number of small business owners who participate in the StreetWise 'MBA'™ by at least thirty percent.

Our partnership model is cost-effective, adaptable and easily scalable, as reflect in our strong partnership renewal rates.

Location of Sites

National Office: 
197 Portland Street, 2nd Floor
Boston, MA 02114
Phone: 617-350-6300
List of locations

To make a contribution to a program site:

  1. Click on the "Make a Contribution Now" button and include the name, city and state of the program you would like to support, in the "notes" text box on the organization's donation form, if available.
  2. If a "notes" or "designation" box is not available, write the city and state on your check in the "notes" section or call the national office to designate your contribution to a local program site.

Locations in the following states:

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Financials

Most Recent Budget

Year Ended:

2012

REVENUE

Corporate Grants: 
$35,000
Foundation Grants: 
$125,000
Government Funding: 
$618,186
Contributions from Individuals: 
$5,221
Special Events: 
$0
Program Services Fees: 
$242,100
Membership Dues: 
$0
Other Earned Income: 
$0
Other Revenue: 
$0
Total Revenue: 
$1,025,507

EXPENSES

Salaries, Related Salaries & Professional Fees: 
$602,858
Occupancy: 
$54,135
Travel & Entertainment: 
$76,239
Office Supplies, Printing, Postage: 
$68,443
Telephone & Communications: 
$19,308
Payments to Affiliates: 
$0
Other Expenses: 
$318,699
Other Expenses (Description): 

Other Expenses (Description): 

Total Expenses: 
$1,139,682

NET GAIN/LOSS

Net Gain/Loss: 
$-114,175

Prior Year Actuals

Year Ended:

2011

REVENUE

Corporate Grants: 
$104,000
Foundation Grants: 
$349,000
Government Funding: 
$1,216,463
Contributions from Individuals: 
$53,269
Program Services Fees: 
$351,950
Membership Dues: 
$0
Other Earned Income: 
$0
Other Revenue: 
$0
Special Events: 
$22,855
Total Revenue: 
$2,097,537

EXPENSES

Salaries, Related Salaries & Professional Fees: 
$1,010,136
Occupancy: 
$99,036
Travel & Entertainment: 
$135,005
Office Supplies, Printing, Postage: 
$77,719
Telephone & Communication: 
$31,714
Payments to Affiliates: 
$0
Other Expenses: 
$749,068
Other Expenses (Description): 

Total Expenses: 
$2,102,678

NET GAIN/LOSS

Net Gain / Loss: 
$-5,141

Major Funders

Citi
Santander
Surdna Foundation
Richard and Susan Smith Family Foundation
Massachusetts Growth Capital Corporation
Citizens Bank
People’s United Community Foundation
Massachusetts Technology Collaborative
Garfield Foundation
Capital One
Boston Private Bank and Trust Company
TD Charitable Foundation
Bristol County Savings Bank
George and Jane A. Mifflin Memorial Fund
Apple Pickers Foundation
Eastern Bank Charitable Foundation
Theodore Edson Parker Foundation
Citizens Bank