Executive Summary
Dear Acts Stakeholder:
In 2018 Acts finalized our first comprehensive strategic plan (the “Plan”). That effort made clear our vision as an organization and introduced foundational concepts such as the Acts Way, Upper Right Quadrant (“URQ”) transactions, and the four key capabilities (the “Capabilities”) we will need to become a world-class organization.
Over the past one-and-a-half-years, we have made major progress. We have completed the vast majority of strategic objectives that were contained in the Plan.
Highlights and challenges (by capability) include:
Forming & Building Relationships
• Improved data collection
• Increased attendance at orientations, especially among priority families (e.g. African American families earning $25,000-$50,000)
• Challenge: Engaging alumni has been difficult and efforts have not been very successful
Operations Excellence
• Transitioned from an oral culture to one with written processes and procedures
• Professionalized lending operation, including loan review and documenting transactions
• Challenge: Outsourcing loan servicing and professional escrow services still in process
Family Service Excellence
• Doubled Acts Lending maximum loan size ($25,000 to $50,000)
• Homebuyer Counseling efficiencies realized through consistent family path, online orientation, and eHomeAmerica
• Challenge: Engagement and follow-up with counseling, real estate, and rehab families
Talent & Culture
• Greater vision alignment due to The Plan, Acts Way, Capabilities, and Dashboard
• Enhanced board engagement in both governance and fundraising
• Challenge: Representation of board and committees still lacking (e.g. diversity of race, gender, experience, and expertise)
While not explicitly contained in the Plan, major other accomplishments during this period, included:
• Massively strengthened leadership team
• Outsourcing of human resources and bookkeeping
• Opening and successful launch of Beloit office
With so few strategic objectives from the Plan left undone, new leadership talent with fresh ideas, and COVID-19 disrupting the landscape, the time is ripe for a plan update. What follows is that plan update (“Plan 2.0”), which modestly revises some of our language and presentation, such as the Acts Way and Capabilities, and then lays out new strategies which we will now advance in earnest.
No question, we are living in challenging times. However, I have never been more convinced of both the need for the services we offer and our ability to do the work. Together, we can help families create the change they desire in their own lives and in their communities. It is a distinct honor and privilege to do so with you.
Sincerely,
Michael Gosman, President & CEO
