CAPITAL CAMPAIGN
Grow & Thrive Northside campaign
Northside Economic Opportunity Network (NEON) has been building wealth for low- to moderate-income entrepreneurs since 2006.
By building and supporting a diverse, multi-cultural community of entrepreneurs, our approach to business development seeks to bring Northside-grown wealth and vibrancy home to the North Minneapolis.
The pandemic has accelerated sustained demand for our services as BIPOC entrepreneurs and business owners navigate new and evolving challenges to their viability. NEON is poised for transformative growth to meet this rise in demand and deliver a full range of expertise, business advisement, and training to our community of entrepreneurs for years to come. NEON's Grow + Thrive Northside Campaign seeks $24 million in philanthropic investment to grow our organizational capacity.
CAMPAIGN GOALS
GOAL #1
Raise $2M to build capacity, increase staff and support business growth
Through our capacity-building efforts we will hire five new staff (Business Advisors, Loan Officer and Chief Financial Advisor (CFO). Staff will add value to our work by:
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Assisting with the processes of providing wrap-around services and individualized support to North Minneapolis entrepreneurs
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Manage loan origination, servicing and qualification
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Improve organizational performance forecast cash flow needs, financial management and overall financial complexities to sustain business growth
GOAL #2
Raise $2M to acquire building to grow and serve small businesses
The second goal of our campaign is to purchase our facility (1007 and 1011 West Broadway Ave. N.)
for the purpose of establishing an institutional permanence in North Minneapolis - hedging against gentrification.
Acquiring the building will enable our organization to best support entrepreneurs while generating revenue through our co-working space and provide access to the facility as a community resource.
After acquiring the facility, we will renovate the building - increasing total square footage and revenue by 247% with a robust technology upgrade and enhanced printing and copying services as part of the expansion process.
GOAL #3
Raise $20M to build the NEON Food Business Incubator
Food entrepreneurship is a pathway out of poverty that creates careers and future wealth. With no shared commercial kitchens available in North Minneapolis, food entrepreneurs are displaced and find difficulty operating successful business ventures.
With the expansion of the Northside Food Business Incubator, we will provide a reliable and affordable resource for entrepreneurs to start, thrive and grow their businesses.
STRATEGIC PARTNERSHIPS
Partner with us
Philanthropic support empowers NEON to make timely investments in key infrastructure and assets to expand programming and services for our clients as they grow and evolve.
For more information on NEON's work, opportunities for partnership, and the impact your support can have on North Minneapolis, contact Julie Murphy at (612) 746-4150 or email grow@neon-mn.org.
CURRENT DEVELOPMENT PARTNERS
