The 21st Annual Flax Trust Washington DC took place on 17th November 2011 at the Hay Adams.  The Champagne Reception 8:00a.m. was followed by a banquet style Breakfast on the top floor of the Hay Adams, overlooking the White House.  The Hon. James Walsh, K & L Gates LLP and Director Flax Trust/America,  introduced Honoree Congressman Chris Smith.  Mike McCurry, Public Strategies Washington and Director Flax Trust/America introduced Honoree Senator Kirsten E. Gillibrand.  Sr Mary Turley, Director Flax Trust, presented the Flax Trust Award to both Honorees.

Patti Cunningham and Bill Byrne UNITE with Fr Myles Kavanagh and Sr Mary Turley

Jim Boland, Boland and Chair Flax Trust/America welcomed guests.  John P. Cosgrove, former President, National Press Club gave the Invocation.  Fr Myles Kavanagh, Chairman Flax Trust Belfast spoke on the future of Flax Trust.  The Irish Ambassador to the U.S. Hon. Michael Collins addressed guestd.  Mike O’Neil, K & L Gates LLP, Director Flax Trust/America reported on Ulster Community Investment Trust (UCIT).  Professor Jackie McCoy, University of Ulster Business School and Director School for Social Enterprises in Ireland (SSEI) reported on SSEI activities including those with Fordham University, New York and the University of Maryland, Washington DC.  Professor Joseph Scholten spoke on behalf of the University of Maryland.

Hon. Chris Smith, U.S. Congressman for New Jersey 4th District, receives the Flax Trust Award from Sr Mary Turley with Fr Myles Kavanagh and Hon. James Walsh

Hon. Kirsten Gillibrand, U.S. Senator for New York, receives the Flax Trust Award from Sr Mary Turley with Fr Myles Kavanagh

Mike McCurry, Senator Kirsten Gillibrand, Michael Collins, Irish Ambassador to Washington DC and Sr Mary Turley

Mike O’Neil, K & L Gate, LLP and Director of Flax Trust/America gave an update on Ulster Community Conference Ltd:

Many in this room have visited, and been impressed by, the Flax Trust’s Brookfield Business Center.  That’s where it all started and where 330 small businesses have been “incubated” over the years – from mushroom growers to a community radio station, even a pub.

But no one has ever accused Fr. Myles of letting moss grow on Flax Trust’s ambitions, and 15 years ago, he followed Willie Sutton’s advice – go where the money is.  So he and other community leaders founded the Ulster Community Investment Trust (UCIT), a third sector lending facility that has assisted 200 community organizations, charities and social enterprises in both Northern Ireland and the Republic by providing £30 million in loans, plus training and technical assistance over the past 10 years.

UCIT works with and – since Fr. Myles in involved – has secured funds from both the government of Northern Ireland and of the Republic of Ireland, and the International Fund for Ireland.  And to maximize what they can lend, and therefore what they can do for the communities they serve, UCIT has partnered with other social lenders to co-lend or to manage funds from these banks.  That’s important, because money for social development is scarce, particularly in Northern Ireland, where budgets are being cut.

UCIT has also partnered with other social organizations, like the School for Social Entrepreneurs – also supported by Flax Trust and about which you are about to hear more – to raise awareness of the needs for social investment, the availability of social finance, and to provide investor readiness training and counseling.

In the world of finance, it’s well understood that you adapt or you don’t survive.  UCIT has been a success story – for the communities it has helped, for the businesses it has gotten off the ground, for the capital it has attracted and been trusted to manage.  Flax Trust has played a major role in that success – in its establishment, in guiding its growth and partnerships, and in helping others in the third sector to see how it can be done.  That’s an adaptive, innovative and dynamic effort and it’s why your support for the Flax Trust is so well deserved.

Mike O’Neil

Professor Jackie McCoy, Director Business Insitute, University of Ulster gave an update on the School for Social Enterprises in Ireland:

Back in 2005, The Flax Trust, in the persons of Father Myles and Sister Mary, approached the then Vice Chancellor of the University of Ulster with a vision of a new model of community economic development;  a model based on empowering action-learning principles and underpinned by sound academic rigour.  Bringing together theory and on the ground practice in communities. This compelling vision found immediate favour at the highest levels in academia and the School of Social Enterprises in Ireland was born

Since then, the School has become one of the key support mechanisms for driving sustainable economic and social regeneration in some of the most disadvantaged communities across Ireland. Highlights of our work are outlined in the report to Flax Trust America which I commend to you.

As many of you will be aware the School has a link with Fordham University which was brokered through the good offices of Flax Trust America.  Last year our students engaged in a study visit to community development projects in New York hosted by Fordham Faculty.  We are now in a position to host a reciprocal visit to Ireland for American students and Senior Faculty at the University of Ulster have put together an exciting programme of project visits and master classes.

In closing I would like to leave Flax Trust America with some assurances with regard to the quality of the Schools output.  One of our external examiners is from the esteemed judge Institute at Cambridge.  In a report to the Pro Vice Chancellor for Teaching and Learning he referred to the School as being at the cutting edge in terms of thought leadership and the development of innovative learning models that empower individuals and communities to shape their own destinies. This important work is made possible by many of you in this very room.  So, on behalf of those whose life experiences and expectations have been enhanced as a result of the generous support from Flax Trust America I sincerely thank you.

Professor Jackie McCoy