o u r m i s s i o nThe Miami Bayside Foundation is a nonprofit organization designed to advance economic development in the City of Miami through the support of minority businesses and education.

The Miami Bayside Foundation seeks to do this through the creation and administration of a loan program for minority businesses, through the creation of programs and educational scholarships for minorities, and

by providing technical assistance to local organizations engaged in economic development.

A N N U A L R E P O R T

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www.miamibaysidefoundation.org

On March 2, 2011, the newly appointed board

of the Miami Bayside Foundation joined

Pam Weller, GGP Bayside Marketplace and

Vice-Chair of the Foundation, as she presented

a check for $308,653 to the organization.

The amount represented the retail center’s

2010 contribution. Above Louis McMillian,

Chair of the Foundation’s Loan Committee,

recognizes Joel and Leticia Pollack of

Panther Coffee, LLC – one of the very

first loan recipients of 2011.

Dear friends and supporters, We began 2011 with the creation of a new loan program for minority businesses in the City of Miami and ended the year with the financing of six loans that created 31 jobs.

In June, the Foundation made a gift of $200,000 to Florida International University, which increased in value to $350,000 with State of Florida matching funds. The gift established both a scholarship endowment and a scholarship fund for first-generation students studying business and entrepreneurship and living in the City of Miami. After having restructured the scholarship criteria in 2011, the Foundation awarded 55 scholarships to students studying entrepreneurship at Miami Dade College, all residents of the City of Miami.

We partnered with the Miami Chapter of SCORE, a national association that counsels small business owners by connecting them with senior-level mentors and hosting management workshops. The local chapter has been instrumental in providing our loan applicants with a greater knowledge of how best to run a small business by providing 89 programs throughout the year.

In October, we had our first Networking Event with loan and scholarship recipients, representatives of FIU and Miami Dade College, community leaders and members of our Board. This event, together with media coverage throughout the year, helped raise awarenes of our programs and how they help advance economic development in the City of Miami through the support of minority businesses. I am grateful to each member of the Board of Directors for their time, expertise, and enthusiasm and for their commitment to helping fulfill the Foundation’s mission.

I am especially grateful to Bayside Marketplace and to General Growth Properties, who since the creation of the Foundation in 1986 have been instrumental in the Foundation’s growth, for their continuing and very generous support.

As we look forward to another great year, we are working on a gift to endow a scholarship fund at Florida Memorial University, streamlining our loan program, and looking for different and better ways to reach a larger segment of our community through loans and education.

Sincerely,

A Year o f Notable Achie v e me nt s

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Robert Powers, Chairman

l e t t e r f r o m t h e c h a i r m a n

A N N U A L R E P O R T

Rolando AedoGreater Miami Convention & Visitors Bureau

Benny CarmonaTotalBank

Jeff P.H. CazeauKleiner & Cazeau P.L.

Luis CuervoCAMACOL Loan Fund Program

Bill Diggs Miami Dade Chamber of Commerce

Nicole EwanCity of Miami

Nathan KurlandLicensed Realtor

Beatrice LouissaintSouthern Florida Minority Supplier Development Council

Louis McMillianGlobal Investment Realty

Pablo Perez-CisnerosRetired

2010-2012 T r u s t e e s

In the early 1980s, prior to the ground-breaking of Bayside Marketplace, the City of Miami and famed Bayside Marketplace developer Jim Rouse began discussing ideas for an organization that would support minority entrepreneurs in the City of Miami. In 1986, the Miami Bayside Foundation was created from this partnership as a means to revitalize and serve the City of Miami’s downtown economic core.

Since then, the Miami Bayside Foundation has thrived from the retail center’s commitment to assist the Foundation. During 2011, the Foundation received invaluable support from Bayside Marketplace’s ownership, staff and General Manager and Foundation Vice-Chair, Pamela Weller.

This successful partnership created nearly 25 years ago only continues to thrive. Today, GGP Bayside Marketplace remains committed to advancing minority businesses. Further emphasizing GGP’s promise, more than 75 percent of the retail center’s businesses are minority-owned. Together, GGP and the Miami Bayside Foundation are positively impacting the lives of many in Miami.

Robert Powers

Josie Legido Correa Downtown Miami Partnership, Inc.

Maria KorgeKorge & Co.

Pamela WellerBayside Marketplace

Chairman

Treasurer

Secretary

Vice-Chair

Kathleen MurphyExecutive Director

2010-2012 B o a r d o f D i r e c t o r s

h i s t o r y | b o a r d o f d i r e c t o r s | t r u s t e e s

2 0 1 1 f i n a n c i a l s

F o r t h e y e a r e n d e d D ecember 31 , 2011 (audited)

Statement of Activities

Revenues

Contributions $314,695

Investment Income, Net (18,784)

Interest and Other Income 8,164

Total Support and Revenue $304,075

Expenses

Program Services $265,011

Supporting Services 55,589

Total Expenses $320,600

Change in Net Assets (16,525)

Statement of Financial Position

Assets

Cash and Cash Equivalents $572,766

Investments 478,023

Loan Receivables 245,196

Total Assets $1,295,985

Liabilities and Net Assets

Unrestricted 1,295,985

Total Net Assets $1,295,985

The complete, audited Miami Bayside Foundation Financial Report is available upon request.

*Due to market conditions.

*

*

T h a n k y o u t o o u r d o n o r s

How Can You Help Us?

Advancing economic development in the City of Miami can come only as a result of multiple organizations working together toward a common goal. By partnering with the Miami Bayside Foundation, organizations have an opportunity to impact job creation, encourage economic development, support tomorrow’s leaders and improve the future of the City of Miami’s

core economic center.

To learn more about sponsorship opportunities or to donate to the Foundation, please contact Executive Director, Kathleen Murphy at info@miamibaysidefoundation.org.

$308,653

GGP Bayside Marketplace

$2,000

$1,000

$500

Greater Miami Convention & Visitors Bureau

Total Bank

Korge & Co. | Citibank

f u n d r a i s i n g

“GGP Bayside Marketplace has been instrumental in the Foundation’s growth since its creation in 1986. I am especially grateful to GGP for its continuing and very generous support.”

Robert Powers, Chairman

25 SE 2nd Avenue, Suite 240 | Miami, Florida 33131 | T (305) 379.7070 | miamibaysidefoundation.org

Avenue D Jazz and Blues L oungeThis soon to open Downtown venue was able to purchase necessary equipment that would have been difficult to purchase without the help of the loan.

“While some businesses are shutting their doors, we are opening new ones. The Miami Bayside Foundation loan program has been an invaluable boost during this difficult economic climate. We were able to secure a business loan that would have been impossible to achieve through traditional banking methods and the loan has enabled us to make significant additions to our new venue. We are extremely grateful to the Miami Bayside Foundation for the loan.” Will Edwards, Owner

The StageThe Stage, located in the famed Design District, is a hub for live music, art, and film. Offering a large space, high ceilings, comfortable seating, three bar locations and art-lined walls by some of South Florida’s best talent – this venue showcases great music nightly, all adding to the City of Miami’s ever-growing cultural scene. Since receiving the loan, The Stage has hired seven new employees.

“Miami Bayside Foundation helped us finalize our construction and capital needs in order to commence operations in a timely manner. The process was easy and the terms are extremely competitive, especially for a start-up. Their program is a true economic stimulator in the City of Miami and we look forward to seeing more growth in the City because of their programs.” Carlos Garcia, Partner

Panther C offee A grateful recipient of the Foundation’s loan program, Panther Coffee has revolutionized the local coffee scene since it opened in 2010. As the first recipient of the Miami Bayside Foundation loan, Panther Coffee used the loan monies to purchase equipment, attain capital for raw materials such as green coffee and hire seven new employees. Panther Coffee, based in Wynwood, is a specialty coffee roaster, retailer and wholesaler specializing in the small-batch roasting of coffee beans and the preparation of coffee beverages.

“Traditional lenders seemed shy about such a new concept for this area and didn’t feel comfortable. Yet, the Miami Bayside Foundation really listened to us and recognized our potential. Since the loan, we have exceeded our expectations and proven our position in the community.” Leticia Pollack, Owner

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Photo courtesy of Robert Parente

IMR Development Corp.IMR is a minority, disabled-service veteran and woman-owned business. A family-operated company, IMR provides construction management, professional services and electronic security for its clients. Recent projects include remodeling of the data center at the VA Miami Medical Center and project control of the Noel Lesley Super Bowl XLVI. They have hired nine new employees since receiving the loan.

“In this economic climate with credit being tight for small business, the Miami Bayside Foundation really came through for us. Their effort to secure a business loan for us has given us a tremendous boost. We were able to purchase a company vehicle, and establish both lines of credit and national supplier accounts that we would not have been able to do otherwise.”

Keith Jennings, Senior Vice President

Nice Transportation Service Nice Transportation Service has proudly served the Department of Veterans Affairs Miami Healthcare System for the past 19 years. Nice Transportation Service provides veterans with non-emergency transportation throughout the City of Miami, Miami-Dade County and most of the State of Florida.

“I sincerely thank the Miami Bayside Foundation for helping my company receive a business loan when most banks discontinued our line of credit due to the economy. We now have money for working capital and have expanded business by purchasing more vans.”

Carlos Jimenez, President

Doors Inc.Woman-owned and operated, Doors Inc. supplies, fabricates and installs steel doors, security gates, fences, railings and miscellaneous metal work for structural, fire code and life safety compliance from its Little Haiti location. Clients include high-rise condominiums, office buildings and hotels. They have hired six employees since they received the loan.

“At a time when credit was unavailable to small businesses, the Miami Bayside Foundation provided not only the financial boost we needed, but also a vote of confidence that we can and will survive. Since receiving the loan last month, we have already been able to secure new business and hire new employees.” Clare Whelan, CEO

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e d u c a t i o n a l p a r t n e r s h i p s

“The scholarship was a vital financial boost in a moment that I needed the most help.”

Carlos Cordoves, Fall 2011 Recipient, Miami Dade College

“The Miami Bayside Foundation’s scholarship really helped me to achieve my goals, and I hope in the near future to be able to help others like they’ve helped me. I know how important education is

and the Miami Bayside Foundation is helping people like me and other recipients to become a successful business person.”

Alisson Dos Santos, Fall 2011 Recipient, Miami Dade College

Like Us on Facebook! Facebook.com/MiamiDadeScholarship

One of the Foundation’s most rewarding initiatives is funding scholarship endowments. Revitalizing an almost $1 million endowment fund at Miami Dade College, 55 scholarships ranging from $500 to $1000 were awarded this year. The Foundation worked diligently with Miami Dade College leaders to reach City of Miami minority students in need,

which culminated with a celebratory networking event in October.

Widening its efforts to help future minority entrepreneurs in the City of Miami, the Foundation’s 2011 Education Committee voted to endow additional higher learning institutions. In June, the Foundation announced a gift of $200,000 to Florida International University with State of Florida matching funds resulting in a total impact of $350,000.

Centered above, FIU President Mark B. Rosenberg (right) recognizes Foundation Chairman Robert Powers. Part of the gift will fund the First Generation Scholarship Program for students who are the first generation

in their families to earn a college degree.

“This experience was humbling and allowed me to be surrounded by individuals who have started their business in Miami and are creating additional opportunities for others like myself.”

Wilbertine Berkeley, Fall 2011 Recipient, Miami Dade College