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Keller Williams Capital Properties Named One of the Nation’s Fastest-Growing Inner City Businesses

The Initiative for a Competitive Inner City (ICIC) announced that Keller Williams Capital Properties has made the 2018 Inner City 100 list of the fastest-growing inner city businesses in America, based on revenue growth. ICIC, a 25-year-old national nonprofit founded by Harvard Business School professor Michael E. Porter, promotes economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents.

The list was revealed at the 20th Annual Inner City 100 Conference and Awards in Boston October 1-2.  The full list is available on Fortune’s website. Keller Williams Capital Properties, led by CEO Bo Menkiti and COO Dontae Carroll was ranked #92 based on its growth rate from 2013 to 2017 of 68.33% and 2017 revenue of $64,811,875.

2018 marked the 5th appearance on the prestigious list for KWCP, placing our brokerage into the ICIC fastest-growing companies Hall of Fame. The Menkiti Group was also ranked for a record 5th appearance, this year at #93, which places the company into the Hall of Fame as well.

Said ICIC CEO Steve Grossman, “Inner City 100 companies are forces of economic opportunity, optimism and transformation in their communities. They lead the way in innovation, job creation and economic revitalization and it’s an honor to shine the spotlight on their leadership and accomplishments. In addition to excellence in business, these pioneering entrepreneurs have demonstrated a deep commitment to and passion for their communities, which significantly impact the wellbeing of their local economies”.

Now celebrating its 20th year, ICIC’s Inner City 100 list has long celebrated urban entrepreneurship. Since its inception, ICIC’s list has recognized 975 companies, which have seen average growth rates of more than 400 percent during a five-year period and have collectively created more than 126,000 meaningful jobs in America’s distressed and underserved communities and neighborhoods.  The Inner City 100 program opens doors for other budding urban entrepreneurs and stimulates inner city business development and job creation through recognition, networking and learning.

“These businesses and their owners are a testament to the impact innovation and entrepreneurship have had in rejuvenating urban areas across the U.S. Companies such as (COMPANY NAME) are experiencing revenue growth and increased investment, which are in turn creating more jobs and economic opportunity for citizens in the communities where these companies call home” said ICIC President and COO, Matt Camp.

2018 Inner City 100 by the numbers:

  • Average growth rate of 436 percent between 2013 and 2017
  • Represent 46 cities in 23 states
  • Employed 10,085 individuals in 2017
  • Created 5,516 new jobs in the last five years
  • On average, 36 percent of employees live in same neighborhood as the company.
  • Average company age is 15 years
  • Average 2016 revenue is $14.8 million
  • 31 percent are women-led
  • 38 percent are minority-led
  • Represent 26 industries

CEOs from the winning companies were invited to the Inner City 100 Conference and Awards, two days of robust networking opportunities and educational sessions led by Fortune 500 executives and academics from top-tier universities, including Harvard Business School. Past winners have reported connecting with multi-million dollar investors as a result of appearing on the Inner City 100 list and attending the Conference.

Initiative for a Competitive Inner City (ICIC)

ICIC is a national nonprofit founded by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections, Goldman Sachs 10,000 Small Businesses program, and Santander Bank’s Cultivate Small Business program. Learn more at www.icic.org or @icicorg.

From the KW BLOG: KW Cares Provides Hope and Relief After Hurricane Florence

Hurricane Florence slammed into the North Carolina coast early on Friday, September 14, 2018, wreaking havoc on anything and anyone in its 400-mile-wide path. In the coastal and surrounding towns of Wilmington, New Bern, Morehead City, and Fayetteville, North Carolina, the storm slowed to a crawl and unleashed torrents of relentless rain and wind. Now the state is dealing with catastrophic inland flooding the likes of which most residents have never seen.

Days before the storm, Keller Williams’ leaders swung into action to ensure the safety of agents in partnership with KW Cares – a public charity that supports KW associates and their families.

KWCares_Truck

“Our number one goal was to communicate the need to evacuate and take care of their personal safety. Our secondary goal was to assess property damage and personal needs,” said Ladd Gasparovic, operating principal for Keller Williams Wilmington.

Thanks to KW Cares’ disaster relief model, Gasparovic and others were able to quickly organize to help agents evacuate. Through social media, texts, and phone calls, they let every agent know that immediate funds were available through emergency grants from KW Cares to help them safely move away from the storm’s path.

“The speed with which KW Cares got money into the hands of our people who needed it was remarkable,” Gasparovic recalls.

Born in the Storm

Daniel_Castro

Daniel Castro, a brand-new agent in Wilmington, received a grant from KW Cares just in time. His in-laws were visiting from Colombia, South America, for the imminent birth of his and his wife’s second child. At 39 weeks pregnant, a shelter wasn’t their best option, but it was one they would have to take if they couldn’t find an alternative.

When KW Cares learned about Daniel and his family, they wired money into his account and connected him with host homes in Bristol, Tennessee, where they could safely wait out the storm and have access to a hospital.

On Tuesday, September 18, the couple welcomed their daughter, Susanna Victoria Castro, into the world.

Castro is overwhelmed with the outpouring of care and concern. “Everyone here in Tennessee has been so good to us. They welcomed us with open arms and have checked on us to let us know they’re praying for us and looking out for us. KW Cares has made such a difference for us.”

Latwanna

Latwanna Singleton has a similar story. The grant she received from KW Cares helped her get to safety at a critical time. She had planned to hunker down at home so she’d be near the hospital when she went into labor. When the leadership in the market center inquired about whether she had a generator, she second-guessed her decision to stay. “After a short conversation with KW Cares, they had money in my account in less than two hours. We packed up the babies and got out.”

Just days after evacuating, Singleton delivered a healthy baby boy, Matthew Isaiah Jenkins.

Singleton says she is so proud to be a part of a company like Keller Williams, where everyone is treated like family. “I am ready to get back to work so that I can contribute to KW Cares and hopefully help someone in a similar situation at some point in the future.”

The Work Continues

To date, KW Cares has distributed 110 grants totaling $250,000 to those in need. Early last week, the organization set up a command center in New Bern to service the immediate needs of victims and over 100 volunteers have already assisted in clean up efforts.

“The biggest thing we can do right now is not just about the physical possessions or generators we bring, but when we can put our arms around someone else, tell them it’s going to be all right, and get them working again with a glimmer of hope,” says Tom Freireich, head of operations for the KW Disaster Relief Team.

relief_muck

As the rivers continue to rise, the worst of the flooding isn’t over yet. It may be weeks before power is restored and agents can return to their homes to evaluate the damage. Even so, Keller Williams will be there. When Mark Brenneman, regional director of the Carolinas, thinks of the support the region has received, he is overwhelmed with gratitude.

“The mantra of our company is ‘God, family, business,’ and sometimes we use words loosely. But in this case, I’ve got to experience and see over the last seven days what a true family Keller Williams Realty is. The support we’ve received is beyond comprehension. These next few days will be trying, but the amazing thing is that we will be here to support our family.”

To make a donation to those impacted by Hurricane Florence, volunteer, or receive assistance, please visit www.kwcares.org.

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