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Smarter in the City Inc.

 184 Dudley Street, Suite 200
 Boston, MA 02119
[P] (617) 652-0515
[F] --
www.smarterinthecity.com
[email protected]
Kofi Callender
Facebook Twitter
INCORPORATED: 2014
 Printable Profile (Summary / Full)
EIN 47-1127201

LAST UPDATED: 04/19/2018
Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years Yes

Summary

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Mission StatementMORE »

To fuel economic opportunity in underrepresented communities across Boston through technology entrepreneurship.


Mission Statement

To fuel economic opportunity in underrepresented communities across Boston through technology entrepreneurship.



FinancialsMORE »

Fiscal Year Jan 01, 2018 to Dec 31, 2018
Projected Income $225,000.00
Projected Expense $195,000.00

ProgramsMORE »

  • Co-work at Smarter in the City
  • High-Tech Startup Accelerator
  • Workforce Development Program

Revenue vs. Expense ($000s)

Expense Breakdown 2015 (%)

Expense Breakdown (%)

No data available

Expense Breakdown (%)

No data available

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

To fuel economic opportunity in underrepresented communities across Boston through technology entrepreneurship.



Background Statement

Smarter in the City is the first high tech startup business accelerator in Roxbury. In our office we support local entrepreneurs from underrepresented communities in the tech sector advance their technology-focused businesses. Our work and presence in Dudley Square quickly attracted attention from across the city, and is already helping to change long entrenched misperceptions of Roxbury and other neighborhoods and communities in the city.

Many of our companies have started hiring staff, several are generating revenue, and one startup has recently raised angel-led seed round funding.

We help our entrepreneurs build businesses and perhaps more importantly, build networks for individuals who often do not have a fully accessible platform from which to start from.
 
Smarter in the City was founded in 2014 by Gilad Rosenzweig. Gilad is an architect and urban planner with experience in economic development in neighborhoods that have been subject to decline in recent decades.   
 

Impact Statement

Smarter in the City’s model has proven successful. Founded in 2014, in less than three years, we have racked up successes. To date, 25 companies have been through our program and of those 70% are still in business as opposed to the 10% average for minority owned start-ups. Collectively, these businesses have generated approximately $810,000 in revenue and created 16 jobs. Additionally, in 2016 three of the top 10 technology startups “to know” in Boston, as identified by BostInno, a well-respected industry journal, were participants in a Smarter in the City cohort.

Smarter in the City has headlined and been included in the Dudley Square story many times in the Boston Globe, WBUR, Boston Herald, Boston Business Journal as well as several national publications.


Needs Statement

We seek financial support from foundations, businesses and government agencies for a budget of approximately $225,000. We actively recruit business mentors to assist with our core mentoring program. We are working to foster a partnership to provide co-work space for graduates of our program. Our work space can be continuously improved with in-kind support of furniture, office supplies and equipment. Lastly, we need to better promote and market our startups ("our portfolio" of companies), and to attract new entrepreneurs to the program. We need to develop a better web portal, PR campaign and marketing package.

To support our cohort teams in developing and maintaining successful enterprises, Smarter in the City (SitC) has conceived the Workforce Development Program designed to help entrepreneurs overcome the lack of manpower, while at the same time providing hands-on training in key in-demand skills to underrepresented students and career changers. The SitC Workforce Development Program pairs college students, and coding and professional development programs with experienced professionals to work with SitC cohorts in areas we have identified as crucial for success in today’s tech-driven marketplace.


CEO Statement



Board Chair Statement



Geographic Area Served

City of Boston- Roxbury
City of Boston- South Dorchester
City of Boston- Mattapan
City of Boston- Mission Hill
City of Boston- North Dorchester
Our program is tailored to meet the needs of the entrepreneurs in our catchment area: the low-income communities of Roxbury, Dorchester, and Mattapan. Residents of these communities are primarily, but not exclusively, Black and Latino and as such they are grossly under-represented in this country’s tech sector, overall, especially as founders of tech companies. This is an urgent problem that needs to be fixed, particularly in a city like Boston where technology is a major driver of the economy.

Organization Categories

  1. Community Improvement, Capacity Building - Community & Neighbourhood Development
  2. Education - Adult Education
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Co-work at Smarter in the City

As companies graduate from the accelerator program, we are now providing them with a shared workspace environment in Dudley Square, where they can continue to develop their businesses, hire employees, and help in the business revitalization of the neighborhood.  Participants in this extended program of Smarter in the City also continue to benefit from programming, presentations and workshops provided in the accelerator program.
 
Budget  $97,000.00
Category  Community Development, General/Other Business District Revitalization
Population Served Minorities Blacks, African Heritage General/Unspecified
Program Short-Term Success  This program begins in September 2015.  Two new companies are starting here. Both have 1-2 employees each, and are poised for even larger growth.  The signal is set that companies are looking to establish roots in Dudley Square.
Program Long-Term Success   New tech businesses are being established in Dudley Square.  The goal is to ignite a new cluster of technology startups in the City of Boston, but one that is wholly representative of the demographics of the diverse neighborhoods of Roxbury and neighboring areas.
Program Success Monitored By  The demand for space will be a clear indication that the model is effective.  As more companies come out from the accelerator, the potential for growth continues. 
Examples of Program Success  The program is only just beginning, but is already filled to 75% capacity. 

High-Tech Startup Accelerator

Our high-tech accelerator is a five month full-time intensive business development program.  Startups are selected from a pool of applicants to join Smarter in the City in two cohorts per year. We provide an exciting work space with full office services and support, in addition to dedicated mentors that guide companies through idea validation, business plan generation and product and service development. We provide a series of workshops and presentations by professionals covering subjects such as marketing and finance. Startups are connected to helpful networks and potential partners and investors during the accelerator period and beyond. Lastly, through a partnership with Boston College Law School, we provide legal services for establishing businesses, dealing with IP issues, trade, and contract support.

Budget  $124,000.00
Category  Community Development, General/Other Community Economic Development
Population Served Blacks, African Heritage Hispanic, Latino Heritage
Program Short-Term Success  Each year, at least 10 new minority-founded tech startups will be accelerated into the Boston tech sector.  
Program Long-Term Success  We aim to increase the number of venture-backed tech startups with African-American and latino founders. Currently, these communities account for less than 1% of startups.
 
Program Success Monitored By  Each cohort is interviewed at the end of the accelerator period.  Founders report back on how the program has helped their business grow, and how each mentor, advisor or workshop led to an improvement or instrumental change in their work or outcome.  We track employment patterns by our startups and the amount of investment they receive, during and after their time in the accelerator.
Examples of Program Success  All companies that have passed through our accelerator are still in operation, or have made an important pivot and structural change.  One of our graduates has successfully entered the coveted MassChallenge accelerator to continue development.  Several companies are now seeing revenue from the product or service they developed in the accelerator. 
 

Workforce Development Program

While we all know that a trained workforce is crucial to the success of a well-run business, most entrepreneurs lack the resources needed to employ staff, so instead they go it alone, and unfortunately all too often they fail. In fact, two in three startups fail within the first two years, according to the Small Business Administration. Smarter in the City cohort members are talented individuals, skilled in their area of expertise, yet they need help scaling to the next level where they grow their businesses and hire employees. To support our cohort teams in developing and maintaining successful enterprises, Smarter in the City (SitC) has conceived the Workforce Development Program designed to help entrepreneurs overcome the lack of manpower, while at the same time providing hands-on training in key in-demand skills to underrepresented students and career changers.

The SitC Workforce Development Program pairs college students, and coding and professional development programs with experienced professionals to work with SitC cohorts in areas we have identified as crucial for success in today’s tech-driven marketplace. They are: coding, marketing, branding and graphic design. By providing cohort members with expertise in these areas, their chances for success will be significantly improved. We are seeking to partner with schools and professional training programs to utilize their students to address the needs of SITC cohorts. Students employed in the Workforce Development and MVP Apprenticeship programs will not only benefit by gaining hands-on work experience, they will also develop a portfolio of work that can support them in attaining jobs and advancing in their careers.

Budget  --
Category  Youth Development, General/Other Youth Business
Population Served College Aged (18-26 years) Adults Adolescents Only (13-19 years)
Program Short-Term Success  By the end of the program, 6 months, 12 minority students will have gained hands-on experience working for a startup and creating a portfolio.  This will aid the student get hired much more quickly by a company or the startup.  It will also help the startups build/grow much more quickly.
Program Long-Term Success  We help businesses generate wealth and hire local talent, thus changing the face and sentiments of who can become a successful entrepreneur.
Program Success Monitored By  Job placement, hired by a startup, 
Examples of Program Success  The program was implemented at a small scale, with 3 students.  After completion, all students received full-time jobs in their respective fields.

CEO/Executive Director/Board Comments


Management


CEO/Executive Director Mr Kofi Callender
CEO Term Start Aug 2016
CEO Email [email protected]
CEO Experience --
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
Gilad Rosenzweig May 2014 Aug 2016

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

We work with Boston College Law School. Their Community Legal Clinic dedicates students each semester to take on our startups as clients.

CEO/Executive Director/Board Comments


Foundation Comments

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Staff Information

Number of Full Time Staff 1
Number of Part Time Staff 1
Number of Volunteers 14
Number of Contract Staff 0
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 2
Asian American/Pacific Islander: 0
Caucasian: 0
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 0
Male: 2
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers --
Management Succession Plan No
Business Continuity of Operations Plan No
Organization Policies And Procedures Under Development
Nondiscrimination Policy Under Development
Whistle Blower Policy No
Document Destruction Policy No
Directors and Officers Insurance Policy No
State Charitable Solicitations Permit --
State Registration --

Risk Management Provisions

--

Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency N/A N/A
Senior Management Formal Evaluation and Frequency N/A N/A
Non Management Formal Evaluation and Frequency N/A N/A

Governance


Board Chair Mr Gilad Rosenzweig
Board Chair Company Affiliation Urban Planner
Board Chair Term May 2014 - Aug 2018
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Mr. Timothy Buntel Codiscope Voting
Ms. Chiso Okafor Roxbury Community College Voting
Mr. Gilad Rosenzweig Urban Planner Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 1
Asian American/Pacific Islander: 0
Caucasian: 2
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 1
Male: 2
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits --
Board Meeting Attendance % 100%
Written Board Selection Criteria Under Development
Written Conflict Of Interest Policy Under Development
Percentage of Monetary Contributions 0%
Percentage of In-Kind Contributions 33%
Constituency Includes Client Representation No

Standing Committees

    --

CEO/Executive Director/Board Comments

--

Foundation Comments

--

Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2015 (%)

Expense Breakdown (%)

No data available

Expense Breakdown (%)

No data available

Fiscal Year Jan 01, 2018 to Dec 31, 2018
Projected Income $225,000.00
Projected Expense $195,000.00
Form 990s --
Audit Documents --
IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2015 -- --
Total Revenue $195,500 -- --
Total Expenses $153,331 -- --

Prior Three Years Revenue Sources

Fiscal Year 2015 -- --
Foundation and
Corporation Contributions
$145,500 -- --
Government Contributions $50,000 -- --
    Federal $50,000 -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions -- -- --
Indirect Public Support -- -- --
Earned Revenue -- -- --
Investment Income, Net of Losses -- -- --
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind -- -- --
Other -- -- --

Prior Three Years Expense Allocations

Fiscal Year 2015 -- --
Program Expense $129,027 -- --
Administration Expense $20,304 -- --
Fundraising Expense $4,000 -- --
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.28 -- --
Program Expense/Total Expenses 84% -- --
Fundraising Expense/Contributed Revenue 2% -- --

Prior Three Years Assets and Liabilities

Fiscal Year 2015 -- --
Total Assets $1,490 -- --
Current Assets $1,490 -- --
Long-Term Liabilities $0 -- --
Current Liabilities $0 -- --
Total Net Assets $1,490 -- --

Prior Three Years Top Three Funding Sources

Fiscal Year 2015 -- --
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy Income Only
Percentage(If selected) --
Credit Line No
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2015 -- --
Current Ratio: Current Assets/Current Liabilities -- -- --

Long Term Solvency

Fiscal Year 2015 -- --
Long-term Liabilities/Total Assets 0% -- --

CEO/Executive Director/Board Comments

--

Foundation Comments

Smarter in the City Inc. received its nonprofit status from the IRS in August 2016 and prior to that time was fiscally sponsored by Openairbostonnet.
 
Smarter in the City is newer and began its work in the summer of 2014. As such, one full year of financial data, provided by Smarter in the City, is included in the charts and graphs above.
 

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

Generate wealth-creating businesses capable of transforming a community and decrease the income inequality gap in greater Boston primarily through increasing the number of African-American and Latino venture-backed tech startups in the Boston Area.

2. What are your strategies for making this happen?

Smarter in the City operates two five-month cohorts.  We seek innovative entrepreneurs and help them transform their ideas into viable tech businesses by providing them with access to the tools they need to succeed. We provide much-needed office space in an attractive high-tech work environment, and we offer mentorship, business support and access to a large professional network. Cohort participants are assisted in developing a rigorous business plan; they are provided marketing guidance, financial training and are paired with seasoned mentors. Since access to capital is a challenge for many low and moderate income, participants are also given a $5,000 stipend as they work full-time to build their businesses.

3. What are your organization’s capabilities for doing this?

Smarter in the City has track the success and continuously solicits inpurt from our startup founders to ensure that our program design is effective and consistently performs well.  Smarter in the City was founded in 2014, and in less than four years, we have racked up successes proving that our model is a winning one. To date, 25 companies have been through our program and of those, 70% are still in business as opposed to the 10% average for minority-owned startups. Collectively, these businesses have generated approximately $825,000 in revenue and created 16 jobs. Additionally, in 2016 three of the top 10 technology startups to know in Boston, identified by Bostinno, a well-respected industry journal, were participants in a Smarter in the City cohort.  

4. How will your organization know if you are making progress?

We will measure several key indicators including, increased recurring revenue, the number of jobs created,  growing entrepreneurial workforce, neighborhood participation in the tech eco-system (in events, press coverage, etc)
Ultimately we want to change communities by communities and continue to drive local innovation where economic development is at the lead.
Goals
  - Each cohort produce at least 15 jobs and $500,000 in revenue within 3 years of completing the program
  - Aid 75% of the workforce development students to gain full-time employment within 1 year of graduation

5. What have and haven’t you accomplished so far?

We have helped businesses create jobs and generate income over the past three years.  As we continue to help businesses grow we have attracted interest from the investor community in Boston that are taking a renewed look at businesses that come from communities such as Dorchester, Roxbury and Mattapan. 
 
While we are proud and excited about this progress, we are fervently working on changing attitudes and understanding of entrepreneurship in communities of color.  Local individuals do not see themselves as future entrepreneurs, primarily because they do not see others who look like themselves building businesses.  This is a significant issue we're seeking to address so we can build a pipeline of individuals who want to solve problems and become entrepreneurs themselves.
To do this we want to highlight in local media both digital and offline who entrepreneurs of color and hold community events highlighting and sharing knowledge required to build new ventures.