Progress OKC, A Community Development Corporation, Inc.

Background

Overview

Progress OKC is a 501(c)(3) nonprofit Community Development Corporation (CDC) established to support and revitalize underserved communities in Oklahoma City. Its mission is to strengthen and preserve the social and economic fabric of these communities by engaging in programs and partnerships focused on housing stability, economic mobility, quality of place, and education.

Mission and Vision

• Mission: To strengthen and preserve the social and economic fabric of Oklahoma City's underserved communities by engaging in programs and partnerships focused on housing stability, economic mobility, quality of place, and education.

• Vision: To create sustainable and thriving communities in Oklahoma City through comprehensive development initiatives that address housing, economic opportunities, and community engagement.

Primary Area of Focus

Progress OKC primarily focuses on:

• Housing Stability: Developing affordable housing options for low-to-moderate-income residents.

• Economic Mobility: Supporting small and minority-owned businesses through technical assistance, coaching, and access to capital.

• Quality of Place: Enhancing public spaces and community facilities to improve the overall living environment.

• Education: Providing educational resources and programs to empower community members.

Industry Significance

As a CDC, Progress OKC plays a crucial role in addressing urban development challenges in Oklahoma City, particularly in areas that have experienced significant disinvestment. By focusing on comprehensive community development, the organization contributes to the city's broader goals of economic revitalization and social equity.

Key Strategic Focus

Core Objectives

• Affordable Housing Development: Increase the availability of quality, affordable housing for low-to-moderate-income families.

• Economic Empowerment: Foster economic growth by supporting small and minority-owned businesses.

• Community Revitalization: Enhance public spaces and facilities to improve the quality of life for residents.

Specific Areas of Specialization

• Housing Development: Redeveloping underutilized properties to create affordable housing.

• Business Support: Offering business incubator spaces, technical assistance, and access to micro-loans.

• Community Engagement: Collaborating with local organizations and residents to identify and address community needs.

Key Technologies Utilized

• Data Analytics: To assess community needs and measure program impact.

• Digital Platforms: For business support services, including online loan applications and virtual consultations.

Primary Markets or Conditions Targeted

• Underserved Communities: Particularly in northeast Oklahoma City and other areas with high levels of disinvestment.

• Low-to-Moderate-Income Residents: Individuals and families seeking affordable housing and economic opportunities.

Financials and Funding

Funding History

Progress OKC has secured funding from various sources, including federal and local grants, private donations, and partnerships with organizations like the Inasmuch Foundation. For instance, in October 2020, the Nextep Charitable Foundation donated $10,000 to support the local Black community through Progress OKC.

Total Funds Raised

Specific figures for total funds raised are not publicly disclosed.

Recent Funding Rounds

Details on recent funding rounds are not publicly available.

Notable Investors

Progress OKC has received support from various foundations and organizations, including the Inasmuch Foundation and the Nextep Charitable Foundation.

Intended Utilization of Capital

Funds are utilized for:

• Housing Projects: Developing and renovating affordable housing units.

• Business Support Programs: Providing technical assistance and micro-loans to small businesses.

• Community Initiatives: Enhancing public spaces and organizing community events.

Pipeline Development

Key Pipeline Candidates

• Affordable Housing Projects: Redevelopment of properties in the Culbertson’s East Highland neighborhood, including nine single-family homes, seven of which were sold to income-eligible individuals or families.

• Business Support Programs: The Generation Impact Business Accelerator program, which provides training and resources to aspiring and early-stage entrepreneurs.

Stages of Development

• Housing Projects: Completed and ongoing developments, with plans for additional homes in the Culbertson’s East Highland neighborhood.

• Business Programs: Ongoing cohorts of the Generation Impact Business Accelerator, with applications open for new participants.

Target Conditions

• Housing Projects: Addressing the need for affordable housing in underserved communities.

• Business Programs: Supporting small and minority-owned businesses to foster economic growth.

Relevant Timelines

• Housing Projects: Completion of four new homes in June 2023, with plans for additional developments.

• Business Programs: Ongoing cohorts, with the next cohort starting in September 2023.

Technological Platform and Innovation

Proprietary Technologies

Specific proprietary technologies are not publicly disclosed.

Significant Scientific Methods

• Community Needs Assessment: Utilizing data analytics to identify and address community needs.

• Program Evaluation: Measuring the impact of programs to ensure effectiveness and inform future initiatives.

Leadership Team

Executive Profiles

• Kimberly S. Francisco: Executive Director since March 2023. Previously managed the Ralph Ellison Library, collaborating with state and local agencies, community-based nonprofits, and local school systems to provide programming and services based on community needs.

• Daisy Munoz, MRCP: Capital Access Manager, responsible for overseeing financial resources and partnerships.

• Kenton Tsoodle: President, leading strategic initiatives and organizational development.

• Keith Kuhlman: Past Interim Executive Director, contributing to organizational leadership and development.

• Maurianna Adams: Past Executive Director, played a key role in the organization's growth and community impact.

Board of Directors

• Ashley Dickson-Oso: Chairman, providing strategic oversight and guidance.

• Joseph H. Allen: Treasurer/Secretary, managing financial affairs and governance.

• Kelly Gray: Trustee, contributing to strategic decision-making.

• Louis Almaraz: Trustee, offering insights into community development.

• Ray Douglas: Trustee, involved in organizational governance.

• Teresa Goggins: Vice Chairman, supporting leadership and strategic initiatives.

• Vilona Michael: Trustee, participating in board activities and decision-making.

Competitor Profile

Market Insights and Dynamics

The community development sector in Oklahoma City is characterized by a collaborative environment, with multiple organizations working towards similar goals of revitalization and support for underserved communities. The market is dynamic, with ongoing initiatives to address housing, economic development, and community engagement.

Competitor Analysis

• The Alliance for Economic Development of Oklahoma City: Focuses on coordinating land, incentives, and economic tools to attract companies and developers.

• Inasmuch Foundation: A grant-making foundation providing financial contributions within the community and civic engagement, education, human services, and journalism fields.

Strategic Collaborations and Partnerships

Progress OKC collaborates with various organizations, including:

• The Alliance for Economic Development of Oklahoma City: Partnering on initiatives to revitalize communities and support economic development.

• Inasmuch Foundation: Receiving grants to support community development projects.

Operational Insights

Progress OKC differentiates itself through its comprehensive approach to community development, focusing on housing, economic empowerment, and community engagement. Its collaborative efforts with local organizations and residents enhance its effectiveness in addressing community needs.

Strategic Opportunities and Future Directions

Progress OKC aims to expand its housing development projects, increase support for small and minority-owned businesses, and enhance community facilities. By leveraging existing partnerships and securing additional funding, the organization is well-positioned to achieve its objectives and further its impact in Oklahoma City.