The Small-Scale Sustainable Infrastructure Development Fund (S3IDF) General Information 5 Hastings Square The Carriage House Cambridge, MA 239 4724 (67) 576-652 Website www.s3idf.org Organization Contact Nakul Kadaba info@s3idf.org Year of Incorporation 2
Statements & Search Criteria Mission Statement S3IDF s mission is to reduce poverty by applying and disseminating its paradigm-shifting Social Merchant Bank Approach (SMBA). The SMBA bundles business development support, technological know-how, and co-financing to create small-scale enterprises. This support provides energy and other infrastructure services and related productive-use investments that are focused explicitly on the poor and the environment. S3IDF pursues two mission objectives to affect change on both local and global levels:to employ its Social Merchant Bank Approach (SMBA) in India to build micro-, small-, and medium-scale enterprises that positively impact the poor and the environment, To promote, disseminate, and transfer the SMBA to achieve a broader and greater impact within poor communities by enabling other development institutions to leverage both philanthropic and development capital to facilitate local commercial co-financing for micro-, small-, and medium-scale enterprises that explicitly benefit the poor. Background Statement The Small-Scale Sustainable Infrastructure Development Fund (S3IDF) was created in 2 by a group of development professionals with extensive experience spanning more than sixty countries. These founders created S3IDF in response to the limitations of conventional development approaches to providing infrastructure services to the poor. The S3IDF founders developed an alternative paradigm, the Social Merchant Bank Approach (SMBA), to be very widely applicable across technologies and geographies. The SMBA addresses the shortcomings of conventional approaches of infrastructure provision for the poor and takes advantage of the proliferation of technological and material evolutions that made small-scale infrastructure options more costeffective. 2
Impact Statement Enterprises supported by S3IDF increase income and/or savings through additional employment opportunities, provide access to local basic services, and create safer, healthier living environments. Examples of social impact in India include: Improved indoor air quality through efficient cook stoves and clean-burning fuels, such as biogas Increased productivity in the evening hours with reliable lighting for students and parents through pico-hydro electrification schemes Reliable access to safe drinking water for villagers through water purification plants To date, S3IDF has impacted more than 4, poor individuals in India as business owners or operators, employees, and customers and their families. The application of S3IDF s Social Merchant Bank Approach (SMBA) in Nepal, through collaboration with the Asian Development Bank (ADB), has the potential to impact hundreds of thousands of households as it increases the capacity of small water mills and adds additional productive-use technologies which harness energy from the mills. In India, every dollar that S3IDF invests from its revolving fund (RF) in micro, small and medium enterprises typically leverages at least two dollars, and sometimes up to four dollars, in capital injected by local entrepreneurs and banks (and in some cases, government subsidies and equipment suppliers). This financial leverage, along with the technology and business development services that S3IDF provides, makes it possible to alleviate poverty on a larger scale than would otherwise be possible.such leveraging is also being achieved in Nepal through the deployment of a RF that the ADB is capitalizing. In India, examples of financial impact include: Increased income for women s sewing cooperative workers though access to computerized embroidery machines. New opportunities for solar battery recharge businesses through access to three-wheel vehicles Increased wealth for owners of electric flour and spice grinding machines S3IDF s use of clean and renewable energy helps the environment by reducing or eliminating the poor s reliance on inefficient fuels, thereby improving energy efficiency and reducing carbon emissions. Examples of environmental impact include: Reduced fuel wood consumption for ovens used in silk reeling through improved kilns Replacement of inefficient cooking fuels, such as wood, with cleaner, more efficient biogas Reduced kerosene consumption in homes and shops through solar lanterns Needs Statement As an organization striving to make a big impact and bring poor and under-served communities and people out of poverty, we appreciate any contributions from the public. Currently, we are concentrating on gaining funding for the creation of a permanent revolving fund (RF), which can be used to increase our reach to other poor communities and give them the equity, partial guarantees, and the other credit conditioning instruments they need to access commercial lending institutions. Additionally, we always welcome funds that we can use to build on our dissemination initiatives to begin projects in other provinces in India and countries around the world. We appreciate any and all support people are willing to give us, as we continue to tackle widespread poverty with small-scale investments and enterprising solutions. Service Categories International Economic Development Engineering & Technology Energy Resources Conservation & Development Geographic Areas Served Please review online profile for full list of selected areas served. 3
Programs Program Services: Projects Description S3IDF is currently expanding its use of the Social Merchant Bank ApproachSM (SMBA) to develop projects in three priority program areas. These areas are: Water Solutions (drinking water filters and small-scale hydropower), Solar Solutions (PV and other related solar technologies that expand access to energy), and Biomass & Biogas Solutions (technologies that turn waste products into multiple products, such as gas for cooking, natural fertilizer, etc). Budget 5 Category Community Development Community Economic Development Population Served Poor/Economically Disadvantaged, Indigent, General,, Program Short Term Success Program Long term Success Program Success Monitored By Examples of Program Success In every project that S3IDF implements, S3IDF ensures that its investment benefits the poor as buyers of the service, employees in the enterprise, and/or owners/operators of the enterprise. Example short-term outcomes include higher enterprise productivity, safer domestic air quality, access to affordable safe drinking water, etc. The ultimate changes that S3IDF works to achieve through its project initiatives are poverty reduction and improved access of practical and affordable infrastructure technologies and related services for the poor. Improved access to infrastructure technologies and related services forms a foundation for poverty alleviation and economic development. Program success is monitored through data collection from field surveys, interviews with project beneficiaries and stakeholders and by social, financial, and environmental metrics (such as number of people who gain access to lighting, number of banks and branches making first loans to low-income individuals as a result of the project, improvements in energy efficiency). S3IDF uses the data its collects through its monitoring and evaluation activities to create reports and videos, including case studies that highlight examples of successful projects. These documents and videos capture important positive changes in the behaviors and lives of project beneficiaries whose testimonials are provided alongside impact statistics and project explanations. 4
Program Services: Dissemination Description As part of its dissemination initiatives, S3IDF works to bring its innovative Social Merchant Bank ApproachSM to new countries and to additional regions in India. S3IDF also works to change mindsets of development practitioners, organizations, and other entities about the importance of offering bundled services and leveraging capital. Budget 3 Category Community Development Community Economic Development Population Served Poor/Economically Disadvantaged, Indigent, General,, Program Short Term Success Program Long term Success Program Success Monitored By Examples of Program Success S3IDF s short-term success is indicated by tangible efforts it makes to spread awareness about the importance of bundling services and using financial leverage. Examples include: speaking engagements and presentations at academic and international development institutions and new partnerships and implemented projects/program initiatives that integrate Social Merchant Bank ApproachSM (SMBA). S3IDF works to affect a systems change in the way that development institutions and other nonprofit and for-profit entities implement programs and projects. To work toward achieving this long-term objective, S3IDF enables other development institutions to leverage both philanthropic and development capital to facilitate local commercial co-financing for micro-, small-, and mediumscale enterprises that explicitly benefit the poor. S3IDF monitors the success of its dissemination initiatives through both the quantity and quality of its speaking engagements and presentations, conversations with development practitioners, and new partnerships and implemented projects/program initiatives that integrate Social Merchant Bank ApproachSM (SMBA). To date, S3IDF has explored opportunities for transferring the Social Merchant Bank ApproachSM (SMBA) beyond India to East Africa, Pakistan, Bangladesh, Sri Lanka, and Nepal. Opportunities in Sri Lanka and Nepal have been pursued through reconnaissance studies and, in the case of Nepal, through additional investigation and implementation, including an examination of the requirements for setting up a revolving fund (RF) and an active pilot test of the SMBA in a project to expand Nepal s Improved Water Mill Programme (IWMP). S3IDF also routinely give presentations on the SMBA and its utility to international audiences, such as the Asia Clean Energy Forum and USAID forums and workshops. 5
Management CEO/Executive Director Executive Director Dr. Russell delucia Term Start Sept 2 Email delucia@s3idf.org Experience Trained in engineering and economics (Ph.D., Harvard University), Dr. delucia is a pioneer in the field of development finance and infrastructure development with experience in more than sixty countries with developing or transition economies, covering every geographic area of the world. Prior to creating S3IDF, he was a consultant for bilateral and multilateral development finance institutions (ADB, IBRD, IDB, IFAD and IFC) and their member countries, serving both as team leader and/or specialist expert. He has advised governments, private firms, financial institutions and NGOs regarding policy and project matters. Much of his prior consulting was on small-scale infrastructure and related investments (e.g. energy-dependent agro-processing schemes) and mechanisms to yield greater development synergies. His experience has influenced the practicum of institutional, regulatory and financing approaches to facilitate small-investments and broader program efforts in different contexts. Co-CEO Experience Russell J. delucia is the primary founder, President and Executive Director S3IDF-US. He was also the Founding Chairman, now Senior Advisor, of its affiliate S3IDF-India. Trained in engineering and economics (Ph.D., Harvard University), Dr. delucia is a pioneer in the field of development finance and infrastructure development with experience in more than sixty countries with developing or transition economies, covering every geographic area of the world. Prior to creating S3IDF, he was a consultant for bilateral and multilateral development finance institutions and their member countries, serving both as team leader and/or specialist expert. He has advised governments, private firms, financial institutions and NGOs regarding policy and project matters. Much of his prior consulting was on small-scale infrastructure and related investments (e.g. energy-dependent agroprocessing schemes) and mechanisms to yield greater development synergies. His experience has influenced the practicum of institutional, regulatory and financing approaches to facilitate smallinvestments and broader program efforts in different contexts. Dr. de Lucia has written and presented extensively on infrastructure, financing, environment and development issues. For the first IFAD World Poverty Study (for which he was a consultant), he prepared a manuscript entitled The Energy Dimensions of Poverty. He served as an Editorial Adviser for the UN journal, Natural Resources Forum. As Guest Editor, he organized and wrote several articles for the vember 2 Special Issue on Small-Scale Natural Resources and Related Infrastructure Development. This Issue makes the case for local private participation and financing of small-infrastructure investments in various sectors with examples from Asia, Africa and Latin America. In recent years he has been a regular invited presenter at the sessions on financing energy access at the Asian Clean Energy Forum (ACEF) held at the ADB. Senior Staff Ms. Elizabeth Friend 6
Title Experience/Biography Senior Program Officer Elizabeth Friend holds an MA in Sustainable International Development from the Heller School of Social Policy and Management at Brandeis University and a BA in Leadership Studies from the Jepson School of Leadership Studies at the University of Richmond. Elizabeth most recently served as International Director of Village Forward, an organization that provides access to safe water and economic opportunity through social enterprise in Nepal. She is an international development practitioner with experience in international program management, strategic planning, and field research with a focus on householdlevel appropriate technologies and micro-enterprise development. Mr. Nakul Kadaba Title Experience/Biography Project Associate Nakul Kadaba joined S3IDF in late, 23. He holds a Masters in Public Administration with a concentration in International Management from George Mason University and a BA in Economics and History from The College of William and Mary. His experience working and living in India, coupled with working for several international development organizations, demonstrate his passion for sustainable development and poverty alleviation. He serves as a liaison between the US and India offices and assists with programs and operations. Staff Information Full Time Staff Part Time Staff Volunteers Contractors 4 Staff Demographics - Ethnicity African American/Black Asian American/Pacific Islander Caucasian 4 Hispanic/Latino Native American/American Indian Other Staff Demographics - Gender Male 4 7
Female Unspecified Formal Evaluations CEO Formal Evaluation CEO/Executive Formal Evaluation Frequency Senior Management Formal Evaluation Senior Management Formal Evaluation Frequency nmanagement Formal Evaluation n Management Formal Evaluation Frequency Annually Yes Annually N/A N/A Plans & Policies Organization has a Fundraising Plan? Organization has a Strategic Plan? Organization Policy and Procedures ndiscrimination Policy Whistleblower Policy Under Development Under Development Under Development Under Development 8
Board & Governance Board Chair Board Chair Dr Russell delucia Company Affiliation Executive Director, S3IDF Term June 2 to July Email delucia@s3idf.org Board Members Name Affiliation Status Robin Brenner Affiliation Voting Russell delucia Executive Director, S3IDF Voting Somak Ghosh YES Bank Voting Michael Lesser Affiliation Voting Marco Palmieri President of DECK Associates, LLC Voting Scott Sklar The Stella Group, Ltd Voting Board Demographics - Ethnicity African American/Black Asian American/Pacific Islander Caucasian 5 Hispanic/Latino Native American/American Indian Other Board Demographics - Gender Male Female Unspecified 5 Board Information Number of Full Board Meetings Annually Written Board Selection Criteria? Written Conflict of Interest Policy? Percentage Making Monetary Contributions Constituency Includes Client Representation Under Development 7% 9
Financials Fiscal Year Fiscal Year Start July, 23 Fiscal Year End June 3, 24 Projected Revenue $795,. Projected Expenses $794,. Endowment? Spending Policy N/A Credit Line? Reserve Fund? Yes Months Reserve Fund Covers 9 Detailed Financials Revenue and Expenses Fiscal Year 22 2 2 Total Revenue $338,2 $38,255 $44,63 Total Expenses $388,89 $487,425 $345,484 Revenue Sources Fiscal Year 22 2 2 Foundation and Corporation -- -- $3, Contributions Government Contributions $ $ $ Federal -- -- -- State -- -- -- Local -- -- -- Unspecified -- -- -- Individual Contributions $7,66 $,53 $3,5 Indirect Public Support -- -- -- Earned Revenue $5,958 $52,24 $45, Investment Income, Net of Losses $2,272 $,295 $5,923 Membership Dues -- -- -- Special Events -- -- -- Revenue In-Kind $22,23 $27,233 $2,558 Other -- -- --
Expense Allocation Fiscal Year 22 2 2 Program Expense $264,333 $388,646 $8,89 Administration Expense $72,999 $78,879 $6,89 Fundraising Expense $5,857 $9,9 $58,45 Payments to Affiliates -- -- -- Total Revenue/Total Expenses.87.78.7 Program Expense/Total Expenses 68% 8% 52% Fundraising Expense/Contributed Revenue 43% 89% 4% Assets and Liabilities Fiscal Year 22 2 2 Total Assets $,2,9 $,42,2 $,58,543 Current Assets $,,6 $,39,836 $,58,543 Long-Term Liabilities $ $ $ Current Liabilities $27,529 $6,57 $6,923 Total Net Assets $985,382 $,35,45 $,4,62 Short Term Solvency Fiscal Year 22 2 2 Current Ratio: Current Assets/Current Liabilities 36.75 58.25 68.46 Long Term Solvency Fiscal Year 22 2 2 Long-Term Liabilities/Total Assets % % % Top Funding Sources Fiscal Year 22 2 2 Top Funding Source & Dollar Amount -- -- -- Second Highest Funding Source & Dollar -- -- -- Amount Third Highest Funding Source & Dollar Amount -- -- -- Capital Campaign Currently in a Capital Campaign? Anticipated In 3 Years Comments Foundation Staff Comments Financial summary data in charts and graphs are per the organization's Reviewed financials. Contributions from foundations and corporations are listed under individuals when the breakout was not available. Created 5.2.28. Copyright 28 The Boston Foundation