By: Jon Bonem, BBA 2016
As several of the previous posts have indicated, our class is now in phase two of our process. We have spent the last two weeks visiting our phase two candidates for on-site tours and visits. My team (Hunger & Homelessness) has spent our time meeting with four incredible organizations: The Cove, Compassion Ministries, Caritas, and Texas Hunger Initiative. The first organization we met with, The Cove, was vastly different from every other group we met with in that it is essentially a start-up. I am an analyst for the Baylor Angel Network, one of the most active Angel Networks in the nation, and have spent a significant amount of time analyzing and researching start-ups in the for-profit environment. So, needless to say, The Cove was a very intriguing opportunity for me to research and discuss further with the team.
The Cove has been in the works for several years and has just recently undergone the process of becoming a 501c(3). It is a prime example of why the qualitative aspect of this sort of research is so important. Our meeting with the Cove reiterated that past the mission of the organization, the most important thing to consider in looking at grants may very well be the leadership and team behind the organization. Cheryl Pooler had an undeniable passion for the mission of the Cove and it was clear that she would not stop until her dream for the organization had been fulfilled.
So, what is it that the Cove does? The Cove is striving to be a safe environment for homeless minors in the Waco area. The goal is to give high school-age kids a safe place to go after school from 4pm-8pm. This location would have volunteers to offer tutoring services, warm showers, laundry machines, mentoring, and counseling. Eventually, once these students have grown to trust the volunteers and mentors at the Cove, the organization could help begin the process of developing host-home models for the children to stay at. However, since these children are minors, there are an endless list of legal hurdles that must be navigated in order to progress to that stage. Thus, an environment like the Cove is necessary to build the foundation and framework to eventually progress to a host-home model. Through all of these resources, the Cove hopes to provide a safe environment for homeless high-school students in the Waco area to succeed and ultimately cross the stage for graduation. This past year, 100% of Waco ISD’s homeless students graduated from high-school thanks to the work of Cheryl Pooler and her co-workers. The Cove is the next step in sustaining these sorts of results in the Waco community.
So, where does the opportunity for our class come in? The Cove still doesn’t have a running operation, because, like I alluded to earlier, they are very much still a start-up organization. Cheryl has spent several years building this idea, talking to people in the community, and working on the organizational logistics. Now, there are several partners and potential funders in the community that are excited about the possibility of this idea coming to life. However, it seems to our team that these partners and potential funders are hesitant to be the first people to invest in the idea. So, our team’s idea is to fund a pilot program for the Cove so that they can generate results and that can support their concept. This is very different than are other funding proposals, but at the end of the day we trust in the qualitative data we gathered when meeting this team.
So, what have I been learning these past two weeks? The qualitative can often be just as important if not more important than the quantitative data we gather.
About the Author: Jon Bonem is a senior from Bellaire, Texas. He is studying Finance and Economics with a minor in Mathematics. He is a Senior Analyst in the Baylor Angel Network and active in his fraternity Kappa Omega Tau. This past summer, Jon interned with Main Street Capital Corporation in Houston, Texas and will be returning to Main Street after his graduation this coming May. Jon hopes to be pushed and challenged on his fundamental views of giving and philanthropy through his time in this course.