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‘Sir, your gold coin has earned ten additional ones.’ He replied, ‘Well done, good servant! You have been faithful in this very small matter; take charge of ten cities.’

Luke 19: 16-17

Faith & Sustainable Economic Development

Promoting Good Livelihoods

2015

“It will become self evident that the economy existsfor the sole purpose of providing for the common welfare

of the entire populace.”

April 26, 2015

Purpose of the Document:There is Hope! This document is designed to stimulate dialogue regarding a renewed role for the Catholic Church – a roleleveraging markets to achieve outcomes beneficial to society. The Church has the opportunity to continue to leverage today’sinternational markets to alleviate poverty, protect workers, foster trade solidarity, and finance investments in catalytic sectors.Through the Church’s leadership role, we may spur others to act similarly, and to move toward more just economies which area apart of Christ’s redemptive work.

About the Author: Dale Fickett is a Board Member at the Virginia Catholic Conference and Executive Director of RVA Works, a public-privatepartnership of Richmond Virginia. RVA Works is dedicated to empowering business for great good through:• Business formation in under-resourced communities;• Incubator spaces;• Acceleration of social innovators; and• Solidarity across the venture community.

Within the Cathedral of the Sacred Heart (Richmond, VA), Fickett served as Chairman of the Social Justice Committee,coordinating parish efforts to address homelessness and hunger; as well as reviewing grants for the support for relatednonprofits. He serves on the Virginia Small Business Quality Award Panel – an initiative of the U.S. Senate and the Secretary ofCommerce & Trade for Virginia. He recently authored “Differentiating Our Startup Ecosystem” and “Creating Jobs in Virginia –Building New Businesses”.

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Previously, Fickett served as a strategy consultant in Accenture’s European Financial Services practice; as co-founder of a retailstartup; and as an instructor at the Wharton School SBDC, University of Pennsylvania.

Through Trinity College, Dublin he co-authored Developmental Entrepreneurship in Sub-Saharan Africa: Assessing Financial andSocial Returns. He sponsored subsequent work at the Wharton School resulting in “Toolkit for Development of a Successful MSMEFund in Africa.” He is presently an adjunct professor at Virginia Commonwealth University’s School of Business; and has beenasked to speak at several universities on inclusive economic development, social entrepreneurship, social enterprise models, andimpact investing.

He achieved a BSBA cum laude from LaSalle University in Management and in Finance; and an MBA magna cum laude fromVillanova University. He is husband to Tara, and father to Fiona Mary and Cian Stephen Fickett.

Table of Contents

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I. Rooted in Catholic Social Teaching

II. Our Human Development Challenges

III. Insufficient Resources & Historic Risks

IV. Market-based Solutions

V. Our Church Impacting the Economy

VI. Model for Sustainable Economic Development• Our Opportunities• Support Programs• Impact Fund• Portfolio Companies

VII. Structure and Prospective Advisors

VIII. Summary of Benefits

Starting Point = Catholic Social Teaching

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Life & Dignity of the Human Person

Call to Family, Community and Participation

Rights & Responsibilities

Option for the Poor & Vulnerable

The Dignity of Work and the Rights of Workers

Solidarity

Care for God’s Creation

I.

Our Human DevelopmentChallenges

Water 1.8 billion people, in 2025, will be living in countries or regions with absolute water scarcity.

- United Nations

Food

Housing

Climate Change

Education

Health Care

1.6 billion people will be affected by the affordable housing gap, about one in three urban dwellers.

- McKinsey

In 2014 close to 850 million, or one in eight, still go hungry each day. By 2025 hunger can be eliminated through enhanced distribution.

-International Food Policy Research Institute

1 billion people lack access to a health care system. By 2025, there will be 1.2 billion people over age 60. Chronic diseases will stress health care systems, with 63% of deaths attributable to such conditions.

- Deloitte

The skills gap in the U.S. is becoming more acute. By 2020, 63% of the 48 million job openings in the U.S. will require some post-secondary education.

- JP Morgan Chase & Co.

Between 2055 and 2070 global carbon neutrality can be reached, so as to avert the worst impacts on biological systems, physical systems (i.e. flooding, drought, erosion), food production, and other health and economic impacts.

- Inter-governmental Panel on Climate Change

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II.

Insufficient Resources & Related Risk

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Government Indebtedness

Limit to Philanthropy

January 2015 - Over $55 trillion in total public debt globally, and it is rising faster than economic output.

- The Economist, The Global Debt Clock

Global Risks of Historic Significance

No. 1 Global Risk of Highest Concern - “Fiscal Crises in Key Economies”- World Economic Forum

2010Private Philanthropy Globally

$19.7 billion

2010World Economic Output

$3,100 billion

Global philanthropy is 0.006% of total world economic output (e.g. Gross World Product).

- Central Intelligence Agency and Center of Global Prosperity

“The practice of strategic philanthropy has advanced substantially over the past two decades, yet even its most committed theorists and practitioners –we among them – have often been disappointed by the results.”

- Stanford Social Innovation Review

“Transformational shifts offer unparalleled opportunities, but the interconnections among them also imply enhanced systemic risks”, including: High Unemployment, Severe Income Disparity, Failure of Financial Mechanism / Institution, and Profound Political and Social Instability.

- World Economic Forum

III

Market-Based Solutions A Toolbox for Inclusion (1 of 2)

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Innovators for Societal Benefit

“Impact Investments are investments made into companies, organizations and funds with the intention to generate measurable social and environmental impact alongside a financial return.”

- Global Impact Investing Network

Investing with a Societal Purpose

“Social entrepreneurs are individuals with innovative solutions to society’s most pressing social problems”, building new business models to catalyze scalable benefit.

- Ashoka

Livelihoods Where They’reMost Needed

Over 1 billion people live on less than $1.25 (PPP) per day, and 2.2 billion people live on less than $2.00 per day.

- World Bank

“The rapid growth of the industry has reached 130 million clients...Formal financial services such as savings, loans, and money transfers enable poor families to invest in enterprises, better nutrition, improved living conditions, and the health and education of their children.“

- International Finance Corporation

Buying Goods to Support Justice for Workers

“Fair Trade Certified™ products come from cooperatives, independent small farmers, and farm workers in 70 developing countries across Africa, Asia, Oceania, Latin America and the Caribbean.“ Products that bear the logo come from farmers and workers that are justly compensated.”

- fairtradeusa.org

IV

Market-Based Solutions A Toolbox for Inclusion (2 of 2)

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Business Ownership for Those in Need

Jugaad innovation is…”the most comprehensive book yet on the subject” of frugal innovation being embraced in the West.

The Economist“Innovating for emerging markets, rather than simply exporting, can unlock a world of opportunities...”

Reverse Innovation

Innovation from Developing Countries

“The Evergreen Cooperatives of Cleveland, Ohio are pioneering innovative models of job creation, wealth building, and sustainability. Evergreen’s employee-owned, for-profit companies are based locally and hire locally. ”

EvergreenCooperatives.comEvergreenCooperatives.comEvergreenCooperatives.comEvergreenCooperatives.com

Innovative Nonprofit & Government Programs

“B Corps are a new type of company that uses the power of business to “B Corps are a new type of company that uses the power of business to “B Corps are a new type of company that uses the power of business to “B Corps are a new type of company that uses the power of business to solve social and environmental problems.” There are 1,203 B Corps in 38 solve social and environmental problems.” There are 1,203 B Corps in 38 solve social and environmental problems.” There are 1,203 B Corps in 38 solve social and environmental problems.” There are 1,203 B Corps in 38 countries, and operating in 121 industries.countries, and operating in 121 industries.countries, and operating in 121 industries.countries, and operating in 121 industries.

Bcorporation.netBcorporation.netBcorporation.netBcorporation.net““““A benefit corporation is a Virginia stock corporation whose articles of incorporation provide that it is a benefit corporation and that has, as one of its purposes, the purpose of creating a general public benefit on society and/or the environment.”

Virginia State Corporation Commission

New Business Structures for Societal Benefit

Other related activities in the publicOther related activities in the publicOther related activities in the publicOther related activities in the public---- and civil sector have and civil sector have and civil sector have and civil sector have included: included: included: included: o Policy innovations, such as Cap and TradePolicy innovations, such as Cap and TradePolicy innovations, such as Cap and TradePolicy innovations, such as Cap and Tradeo Venture Venture Venture Venture pppphilanthropy measurement techniqueshilanthropy measurement techniqueshilanthropy measurement techniqueshilanthropy measurement techniqueso Support for International Financial InstitutionsSupport for International Financial InstitutionsSupport for International Financial InstitutionsSupport for International Financial Institutionso Overseas Development Aid programsOverseas Development Aid programsOverseas Development Aid programsOverseas Development Aid programso Social Impact Bonds / Pay for Performance Programs Social Impact Bonds / Pay for Performance Programs Social Impact Bonds / Pay for Performance Programs Social Impact Bonds / Pay for Performance Programs

IV

Summary of Benefits

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VIII

Economies Working for People

Improvements for the Most Vulnerable

Potential for Benefits that Grow and Scale

Strong Stewardship of Church Resources

Sustainability & Solidarity

Salvation of Souls through Dignity of Work

“The Spirit of the Lord is upon me, because he has anointed me to bring glad tidings to the poor.”

Luke 4 : 18

“I have the strength for everything through him who empowers me.”

Philippians 4 : 13

“Amen, amen I say to you, whoever believes in me will do the works that I do, and will do greater ones than these

because I am going to the Father”

John 14 : 12

Contact Us:For more information, please contact the author at:

Dale Fickettdfickett@hotmail.com@dalefickett+1.804.335.7198

DisclaimerThis material has been designed for discussions purposes only, and is not to be deemed exhaustive. It is notintended to infer or contain any contractual obligations. Unless otherwise referenced, this document contains ideas,concepts, illustrations and information that reflect the views of the author and other stakeholders. It is not designedto imply definitive advice. Interpretations of the information outlined herein, or the mention of other entities oragencies is not to be construed as representing any contractual agreements. The opinions expressed in thisdocument are just that. No warranties, express or implied, of any kind are made, intended or inferred. Theinformation contained herein is not legal advice, nor should it be taken as such. When such legal issues arise, properadvice should be sought, where applicable and appropriate, from qualified legal counsel. Our apologies, in advance,for any oversights or errors.