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36
EMPLOYEE BENEFITS

The Inner City 100 Almanac
 

Fast facts about the inner-city 100 CEOs and their businesses.
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The Inner City 100

The CEO's

Vital Stats
Average age today 46
Median salary $130,000
Average age at time of
company's founding
34
Average salary $206,610
Median noncash compensation $12,000
Average noncash compensation $81,159
Median percentage of
company owned by CEO
60%
Average percentage of
company owned by CEO
69%
Highest Level of Education
High school 19%
Two-year college 4%
Four-year college 39%
M.B.A. 19%
Other master's degree 8%
Doctorate 6%
No response 5%
Economic Background of Family
Affluent 8%
Middle class 50%
Working class 28%
Poor 10%
No response 4%
Ethnicity
Caucasian 60%
Hispanic 15%
Black 13%
Asian 4%
Other 5%
No response 3%
Gender
Male 79%
Female 21%

Entrepreneurial Evolution
Percentage of CEOs who first considered
becoming an entrepreneur at age

5 to 14 13%
15 to 22 37%
23 to 29 22%
30 to 39 14%
40 to 49 9%
Over 50 0%
No response 5%

The Companies

Critical Numbers
Average age of company 15
Average number of full-time employees 87
Median number of full-time employees 40
Average five-year growth rate 687%
Median five-year growth rate 323%
Average 1999 sales $16.6 million
Median 1999 sales $5.8 million
Inner City 100 by Sector
Service 49%
Manufacturing 41%
Distribution 6%
Retail 4%
Inner City 100 by Industry
Business products and services 24%
High tech 18%
Consumer goods 16%
Construction 15%
Professional, scientific, and
technical services
8%
Health care and social assistance 3%
Real estate 3%
Transportation 3%
Other 10%

Start-up Capital
Percentage of companies that
were launched with

Less than $10,000 33%
$10,001 to $20,000 8%
$20,001 to $50,000 18%
$50,001 to $100,000 12%
More than $100,000 13%
No response 16%

Outsourced Functions
Percentage of respondents that
farm out

Human resources/
payroll administration
65%
Accounting 33%
Advertising 31%
Network administration 25%
Public relations 14%
Data processing 1%
Other 6%

Money for Training
Percentage of companies that spend

Less than 1% of annual revenues 18%
1% to 5% of annual revenues 56%
6% to 10% of annual revenues 12%
More than 10% of annual revenues 8%
No response 6%

Benefits for Full-Time Employees
Percentage of respondents offering

Health insurance 98%
401(k)plan 72%
Flextime 71%
Life insurance 60%
Disability insurance 55%
Tuition reimbursement 51%
Employee-assistance program 37%
Telecommuting 25%
Pension plan 20%
Child care 12%

Employee Incentives
Percentage of respondents
offering

Bonus plan 81%
Profit sharing 41%
Employee stock
ownership plan
13%
Stock options 10%
Other incentives 9%

The Future
Percentage of respondents that, over the
next two years, will be considering

Acquiring other companies 65%
Raising equity 38%
Succession planning 32%
Merging 19%
Going public 12%
Selling the company 8%
Retirement 4%

Roadblocks to Growth
Percentage of respondents citing

Lack of quality workers 26%
Lack of capital 21%
Cost of customer acquisition 13%
Difficulty finding the right partners 12%
Lack of staffing in general 12%
Location limitations 6%
Difficulty staying profitable 7%
Difficulty finding the right merger 5%
Problems with product development 5%
Other 5%

Location
The most entrepreneurial inner cities,
by number of Inner City 100 companies

Chicago 10
Buffalo 5
New York 5
Oakland 4
Cleveland 4
Pittsburgh 4

Rating the Inner City
Percentage of CEOs who said that as a
place to do business, the inner city was

Excellent 41%
Good 47%
Fair 8%
Poor 1%
No response 3%

The Workers

Ethnicity
Caucasian 48%
Hispanic 23%
Black 21%
Asian 4%
Other 3%

Note: Numbers do not add up to
100% because of rounding.

Gender
Male 58%
Female 42%
Pay
Average wage of
rank and file worker
$11.81/hour

Job Level
Percentage of all Inner City 100
employees that are

Senior management 6%
Middle management or
skilled workers
26%
Rank and file 69%

Note: Numbers do not add up to
100% because of rounding.

Inner City Residence
Percentage of employees living in
the inner city, among

Senior management 29%
Middle management or
skilled workers
38%
Rank and file 55%

Note: All data were compiled by the Initiative for a Competitive Inner City from the 2001 Inner City 100 survey. For more information go to www.icic.org.


The Inner City 100

Comeback Markets
Most companies have taken a pass on the huge inner-city service market. Some smart CEOs are eagerly filling the void.
Curricular Extras
SuccessLab shores up the academic moorings of kids in poor school districts
Doctors Without Orders
Molina Healthcare gives physicians freedom to match the treatment with the culture.
These Old Houses
Rego Realty brings dilapidated buildings back to life -- and livelihood.
Mother's Giant Helper
Allegheny Child Care lifts a burden from welfare-to-work moms.

City Lights
There are a million stories in the inner cities. These are some of them.

Who Wants to be a Milliner?
The story of this year's #1 Inner City 100 company.

The Inner City 100 Almanac
Fast facts about the Inner City 100 CEOs and their businesses.

The List
The fastest-growing private inner-city companies.


Please e-mail your comments to editors@inc.com.

Last updated: May 1, 2001




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