Metrics

Since its inception in 2010, Socially Responsible Ventures L3C has produced solid results, with unexpectedly high returns—both financial and social—on the $514,962 invested.

affordable housing

• 4 vacant, distressed properties (7 units of housing) fully rehabbed and weatherized
• over 65 individuals housed, about ¼ of whom had been experiencing or facing homelessness
• no rent increases for tenants renewing leases (length of tenancy 2 – 8 years)
• 2 low-income neighborhoods impacted (Chicago – Grand Crossing, Evanston – 5th Ward)
• 2 of the properties sold to first-time homebuyers, 1 of them an SRV tenant

second-chance jobs

• 58 crew members employed, 50 of whom were disadvantaged and 35 of whom were negatively impacted by the criminal justice system
• $202,517 paid in wages, trainee stipends, and independent contractor compensation
• 22,628 hours of paid work provided
• enhanced construction skills for all crew members, in virtually every area of general construction: demolition/deconstruction, weatherization, framing and finish carpentry, electrical, plumbing, tuckpointing, roofing, siding, painting, tiling, drywall, and landscaping
• improved job-site math skills (measuring, estimating)
• stronger resumés and better follow-on job prospects
• numerous intangibles:  boost in confidence, more positive outlook, improved attitude

energy conservation

• air-sealing retrofits that made the thermal envelopes of the 4 properties 41%, 30%, 18%, and 29% “tighter,” or, less leaky
• more and better insulation that, together with the air-sealing, resulted in energy savings across the properties of 3,967 Therms per year
• as of December 31, 2021, cumulative-to-date energy saved across the properties equivalent to:
  • • 416,850 pounds of carbon dioxide-equivalent
    • 453,151 miles of driving
    • 21,269 gallons of gasoline
    • 40 cars taken off the road for one year
    • 201,773 pounds of coal
    • 4,899 trees planted for 10 years
• cumulative-to-date reduction in homeowner utility bills of almost $35,000

economic impact

• estimated $475,000 injected into local economy by tenants (for each household, for each month of occupancy, assumed total spending in categories other than rent of $1,000)
• $62,897 paid to local tradesmen (plumbers, electricians, HVAC installers, others)
• $64,950 of building materials purchased through local retailers
• $107,671 paid in real-estate taxes

financial results

• rental and other income of $843,175
• pre-tax operating profit of $109,163—or $200,508 after adding back in depreciation
• average annual pre-tax return on total funds invested, including owner equity and long-term debt, of 3.6%—or 6.6% after adding back in depreciation
• lenders earned between 4% and 6.75% per annum on funds loaned

As the company moves into its next phase of operations, it hopes to extend its impact to an ever-greater number of stakeholders.

To invest in one of the company’s projects, please contact T. Manning, Founder.  See the Contact page for details.  

From a desktop computer, you can also visit the Invest page.  See the button at top right.