Daily News

HOLYOKE — Priscilla Kane Hellweg announced the launch of a new consulting firm, the Arts Integration Studio. Hellweg, who retired in December 2021 after 40 years as the executive/artistic director of Enchanted Circle Theater in Holyoke, said the Arts Integration Studio is a creative makerspace designed to address critical needs in education, community health, and the environment. The studio incorporates creativity, the arts, and cultural engagement, and collaborates with others to promote positive outcomes and sustainable solutions to pressing educational and social concerns.

This fall, the studio announced four partnerships: with Pittsfield Public Schools and Berkshire Educational Resources on comprehensive professional development in arts integration, open to all K-12 teachers and specialists in Berkshire county; with Mount Holyoke College and its Professional and Graduate Education Department on a graduate fellowship focused on producing research and publications on arts and learning; with the town of Longmeadow, Bay Path University, and Deza Studios to produce a public art exhibit that illuminates community-wide perspectives around climate despair, resilience, and action as the town embarks on updating its master municipal plan with a focus on equity and climate change; and with the Treehouse Foundation, an intergenerational community in Easthampton designed to support families with children who have experienced foster care.

The Arts Integration Studio is also developing ARTS CORPS, a work/study/professional training program for college students and emerging teaching artists interested in the intersectionality of arts, education, social justice, and community well-being.

“I am absolutely thrilled to continue this important work and to collaborate with such visionary organizations and individuals,” Hellweg said. “The Arts Integration Studio is building a pipeline in the region for arts and culture and working across sectors to utilize the power of the arts in education to improve lives.”

Daily News

SPRINGFIELD — Chikmedia invites the community to attend its virtual 2022 Social Media Summit, where it will provide an update on all things social-media related.

Chikmedia, a boutique firm offering strategic marketing planning and creative PR, is hosting this virtual event to support the future generation of marketing leaders. Participants will have the opportunity to learn the latest trends, updates on Instagram and Facebook, and how to create an engaging reel to capture their audience’s attention. They will walk away with information they’ll need to effectively manage social-media platforms and produce quality content.

The event will take place on Thursday, Oct. 27 from noon to 1:30 p.m. Participants will receive a Zoom link for where the event will be held. Tickets cost $75 for current Chikmedia clients and $125 for non-current clients. Click here to register.

“Social media is by far the most-asked-about topic in our line of work. We want to give people an opportunity to take their lunch break and receive some quick updates on what the latest trends are across some of the platforms,” said Meghan Rothschild, president of Chikmedia. “We’re all about education and empowering entrepreneurs and business leaders with the tools they need to succeed.”

Daily News

BOSTON — Chariot Payments has emerged from reorganization with a reconstructed board, a new CEO, and an experienced team poised to launch its bank-compliant, hybrid-payment network to introduce a new way to connect traditional finance and banking to the emerging digital economies burgeoning in the world of decentralized finance.

Chariot’s hybrid network is configured for bank and regulatory compliance, enabling trusted, secure transactions between traditional finance and banking and instant settlement across digital currency protocols at a fraction of the cost imposed by the current payment networks.

“Imagine igniting your business to grow into new and wholly untapped Web3 and decentralized marketplaces that host hundreds of millions of businesses connecting billions of people where you can offer your customers access to instantly transact from their bank across digital currency through Chariot’s bank and regulatory compliant, secure network. That’s the power of Chariot Payments,” the company explained.

Chariot’s CEO, Benjamin Cavallari, along with Chief Technology Officer Mariana Jbantova, resuscitated the startup.

After a long rebuild, Chariot Payments announced that Glenn Hanson, CEO of Colony Hills Capital and co-founder of River Valley Investors, and Jay Como, chief data officer of Silicon Valley Bank, are joining Cavallari on the new board of directors.

Chariot also announced the reformation of its board of advisors, which includes prominent compliance leaders Angela Ratliff and Kevin Troxell (both with US Bank) and Brandon Oliver (previously with JPMorgan Chase, Morgan Stanley Wealth Management, and the DCU Fintech Center).

The company added that “this resilient, battle-tested team is excited to finally move the company forward from a long reconstruction phase into partnership with our first clients and to bring this technology forward to power the future of digital payments between all systems, old and new.”

Daily News

HOLYOKE — On Friday, Oct. 21 from 12:30 to 1 p.m., EforAll/EparaTodos Holyoke will host a virtual Lunch & Learn information session for anyone interested in volunteering to support small businesses.

EforAll is an entrepreneurship program that helps start and grow businesses throughout the Pioneer Valley. There are a wide variety of ways to get involved depending on one’s interests and availability. Email [email protected] for more details and to register for the online information session.

Banking and Financial Services

Taking the Reins

 

Thomas Meshako

Thomas Meshako

Greenfield Savings Bank (GSB) announced the appointment of Thomas Meshako as president and CEO. He brings to the role more than 40 years of experience in the financial-services industry in New England. He joined GSB in 2016 as treasurer and chief financial officer, and will continue in those roles as well until his replacement is hired.

Meshako was appointed by the board of directors after previous President and CEO John Howland’s resignation was accepted by the board of directors.

“I want to thank John Howland for his more than seven years as the head of the bank,” Meshako said. “John’s leadership and direction throughout the unprecedented time of the pandemic and his dedicated and genuine commitment to the communities we serve solidified the bank’s reputation as a community leader. We are grateful for his contributions to the bank and wish him the best in his future endeavors.”

Howland took over as president and CEO in 2015 from Rebecca Caplice, who had served in that role since 2006. Before joining Greenfield Savings, Howland was president of two banks, most recently the First Bank of Greenwich, based in Greenwich, Conn. He has worked in the financial-services field his entire career and holds a bachelor’s degree from Bowdoin College and a juris doctor degree from the University of Maine School of Law.

Meshako, who earned a bachelor’s degree in accounting from Bentley University in 1982, is a resident of Greenfield, where he lives with his wife, Mary Ann. They have three adult daughters.

Founded in 1869, Greenfield Savings Bank has 180 employees and offices and ATMs throughout Franklin and Hampshire counties. Its branches are located in Greenfield, Amherst, Conway, Hadley, Northampton, Shelburne Falls, South Deerfield, and Turners Falls.

The bank operates the only trust and investment management company headquartered in Franklin County. Total assets under management, including both the bank and the investment management company, exceed $1.4 billion.

Banking and Financial Services

Uncertain Times

 

Another month, another rate increase from the Fed. The moves aren’t unexpected, and are needed to slow inflation, but they are concerning, especially to borrowers.

“We haven’t seen inflation like this since the ’80s. To anyone who remembers the late ’70s and early ’80s, when inflation was running really high, the dangers that represents are self-evident,” said Kevin Day, president and CEO of Florence Bank.

“The Fed responds immediately to a heated economy, and when the economy is overheated, that’s when they raise rates” in an effort to slow inflation, he told BusinessWest. “This time is a little different; inflation already showed up, and now they’re having to calm it down. So it’s a different environment than we’ve seen in the last 40 years, and that has created a great deal of uncertainty. And no one likes uncertainty.

“But they’ve been pretty consistent in that they’re going to raise rates to bring inflation under control, and they’re going to continue to raise them more until they get it under control,” Day added. “How far do they have to go? No one knows that, of course, and that’s what breeds the uncertainty.”

The Federal Reserve’s mission is to keep the U.S. economy humming, but not too hot or too cold. So when the economy booms and distortions like inflation and asset bubbles get out of hand, threatening economic stability, the Fed can step in and raise interest rates, cooling down the economy and keeping growth on track.

Kevin Day

Kevin Day

“It’s a different environment than we’ve seen in the last 40 years, and that has created a great deal of uncertainty. And no one likes uncertainty.”

On Sept. 21, the federal funds rate was raised by 75 basis points, to a range of 3% to 3.25%. The move followed 75-basis-point hikes in June and July, and two smaller rate hikes in March and May. The Federal Open Market Committee will meet twice more in 2022 to decide if further hikes are necessary in the fight against high inflation.

Still, “not everyone thinks higher mortgage rates are a terrible thing,” Forbes notes. “Some real-estate professionals see higher rates as one way to cool an overheated housing market. Others think it’s time to get back to normalcy after two years of artificially low borrowing costs.”

In addition, rising rates are not a bad thing for banks in general. When interest interest rates are higher, banks make more money due to the difference between the interest banks pay to customers and the interest the bank can earn by investing.

Still, banks also worry about recessionary environment when rates spike, an environment that opens the door to financial struggles, bankruptcies for individuals, and business failures, Day said. “Rates rising a bit is usually good for banks, but when it starts going too fast, it creates other problems no one likes to see.”

 

Historical Perspective

While inflation is at 40-year highs, interest rates are nowhere near the 6.5% seen in 2000, not to mention the record high of nearly 20% in 1980. Instead, rates have simply returned to pre-pandemic levels, which are historically on the low side.

“In terms of absolute levels, and in view of history, current interest rates are still at attractive levels,” said Mike Kraft, head of CRE Treasury at JPMorgan Chase. “Generally, I would say this is a great time to do business — before additional rate movements kick in.”

However, while historical trends favor current borrowers, people tend to think in the short term, and any rate increase dampens enthusiasm to borrow — which, after all, is the Fed’s intention: to slow the economy.

“Borrower behavior is always impacted by rising rates,” Day said. “People just tend to borrow less money, unless you’re in the credit-card business, which we’re not. We deal with mortgages and commercial loans, and borrowers are more hesitant as rates rise; they don’t want to commit until they have to. As rates rise, what happens is businesses take less risks — they don’t necessarily build or open that next location. Borrowing definitely declines as rates rise faster.

“In a perfect world, if it’s done at a moderate pace, nobody gets hurt too badly,” he went on. “It might slow a little bit, but businesses still make investments in property and equipment. But if it goes rapidly, it’s kind of an unknown. ‘Will this impact my business? Should I open that location? Will there be no business in six months?’ It makes businesses hesitant.”

On the other hand, people more focused on saving money than borrowing it may find the rate hikes a breath of fresh air, even if savings interest still lags behind interest on loans.

“How quickly you’ll see higher APYs on deposits depends on where you bank,” Forbes notes. “Online banks, smaller banks, and credit unions typically offer more attractive yields than big banks and have generally been increasing rates faster because they have to compete more for deposits.”

Day agreed that competition puts pressure on banks to raise deposit interest rates, while the gains are most prevalent in the CD market. “You can get 4%, where years ago, it was hard to get 25 basis points.

“So rising rates are generally beneficial to consumers who save money,” he added. “Borrowers usually don’t like them, but retirees on a fixed income might have assets in investments, and rising rates should help them have alternative ways to earn more money. So there’s two sides to this.”

 

Stay Tuned

The bottom line is that inflation is the highest it’s been since the early ’80s, and that makes everyone skittish, even if one of the remedies — rising interest rates — isn’t welcomed by everyone.

“We’re in uncharted territory,” said Ginger Chambless, head of Research for Commercial Banking at JPMorgan Chase. “By raising rates through this year, the Fed is trying to get a handle on inflation and slowly pull some of the excess liquidity out of the economy. I think it makes sense for the Fed to take a gradual approach. This way, they can see how the economy holds up along the way, as opposed to a more drastic increase, which might cause undue panic in the markets.”

Panic may be a strong word, but the word Day used — uncertainty — is definitely apt for banks, borrowers, and the financial industry as a whole. And with more decisions yet to be made by the Fed, the volatility may not be over.

 

Joseph Bednar can be reached at [email protected]

Banking and Financial Services

Growing Concerns

By Ian Coddington

 

You may be a business owner looking to expand into a new market, purchase new equipment, or conduct development on a new product or design, but don’t want to use cash from operations. How do you complete this? One of the most common ways to fund these kinds of ventures is through financing, specifically debt financing. To effectively use debt, you need to understand covenants, which may be included in the loan agreement.

This article will help you understand what are covenants and why are they required, how covenants might affect your business, and managing your covenants.

Ian Coddington

Ian Coddington

“Using debt can be an effective way to expand your business, and by understanding the intricacies of bank covenants, you can make better decisions as a business owner.”

Using debt can be an effective way to expand your business, and by understanding the intricacies of bank covenants, you can make better decisions as a business owner.

 

What Are Covenants, and Why Do You Need Them?

Simply put, a covenant is a restriction. When a bank or financial institution underwrites a loan or issues a line of credit to a business, they take on a certain amount of risk.

How likely is the business going to pay in a timely manner?

Will the business pay back the loan?

How volatile is the company’s industry?

What is the collateral for the potential loan?

These are all questions lenders will ask and need to understand before issuing a loan. To protect their investment, the financing may require financial covenants. First, there are positive covenants; for example, you are required to have up-to-date insurance coverage and meet certain ratios. It might sound odd to call these positive, but these are items the bank wants to ensure you have in place to help protect the business.

Negative covenants act in the opposite way. Often times, the bank does not want the company taking on other debt obligations without the bank’s prior approval or until the most recent debt is paid off. In addition, negative covenants are often structured to look at a company’s solvency and not violating financial metrics. These are built into the financing to protect the bank, but also to protect the company and the business owner.

Some of the most common financial ratios and metrics that banks look at for assessing a loan are:

Leverage ratio: cash flow from operations divided by total debt. This ratio measures the number of years to pay off of a debt obligation, the lower the better.

Debt service coverage: net operating income divided by total debt service. This ratio measures the ability to service the current debt. The higher the ratio, the greater the ability of the borrower to repay.

Quick ratio: cash and equivalents, marketable securities, and accounts receivable divided by current liabilities. This ratio tests the ability of a company to pay its current liabilities when they come due with its most liquid assets. A strong quick ratio indicates the company will be able to pay its long-term obligations without needing to sell long-term assets.

 

How Covenants Might Affect Your Business

So you have met with a lender, gone through the approval process, and have your new loan right in front of you. Are you ready to sign it? Make sure you review any financing agreements or amendments with your attorney and accountant. Depending on the type of loan, it could require a compilation, review, or audit-level financial prepared by a CPA.

Financial preparation ranges in complexity: the more complex, the more intrusive and costly. Going from a review-level financial statement to audited financial statements could double your accounting fees that you already pay. This could come as an unwanted surprise if you are not ready for it.

There are changes on the horizon. As bankers look at new loan agreements or new amendments to current loans, be aware of the adoption of new lease accounting standards by the Financial Accounting Standards Board. Companies are not required to implement the new standard until years beginning after Dec. 15, 2021 (effective for fiscal years ending Dec. 31, 2022). This new standard could impact the definition or calculation of specific covenants.

 

Managing Your Covenants

You don’t want to wait until the end of the year to evaluate and determine the company’s overall position of compliance with negative and positive covenants. If you find yourself in a situation of continuously failing your covenants, your overall relationship with a bank might be impacted. To help alleviate this, a company should conduct tax planning and/or obtain advice during the year.

Debt is a great tool in a business owner’s toolbelt to grow their business. By understanding the restrictions, or covenants that a lender might use, you can make a more informed decision about whether debt financing is right for you. You also might use a professional to plan around your new debt to foster a healthy relationship with the bank. Strong creditors lead to happy lenders, which leads to better business for everyone.

 

Ian Coddington is a senior associate with the Holyoke-based accounting firm Meyers Brothers Kalicka, P.C.

Banking and Financial Services

Investing for the Long Run

By Barbara Trombley, CPA, MBA

 

As I write this article, the S&P 500 index, which tracks the performance of 500 large companies in the U.S., is down almost 22% for the year. Even more remarkable is that the Barclays Aggregate Bond Index is down more than 14% year to date. If the average investor had a 60% equities / 40% bond portfolio that followed these two indexes, they would be down 18.8% for the year! This is without any portfolio or advisor fees.

After many years of positive stock market returns, this is extremely unsettling for the average investor. Usually, investing in bonds or ‘fixed income’ serves as a buffer to the stock market by providing what is usually a more conservative return. This year, because of rampant inflation, the Federal Reserve has rapidly increased interest rates. Bond prices and interest rates move in opposite directions, leading to large drops in bond prices and, therefore, a depressed bond market.

Barbara Trombley

Barbara Trombley

“Sometimes during volatile market periods, an advisor may strive to counsel a client to change their withdrawal strategy from their portfolio or offer advice on large purchases that can be financed another way.”

As a financial advisor, I wear many hats. The obvious one is that I provide investment guidance and strive to help my clients make financial choices. A less obvious role that I play is that of cheerleader. At times, some investors are very tempted to sell out of the market when times are bad. They feel nervous and uncomfortable. But history has shown us that investing is a lifelong event. A financial plan needs to be followed in good markets and bad.

There is a J.P. Morgan asset-management study that shows that seven of the best ten days in the stock market occurred within two weeks of the ten worst days. Since Jan. 1, 2002 through the end of 2021, for example, an investor who was fully invested in the S&P 500 would have returned 9.52% year over year (without fees). If the same investor missed the 10 best days in the market during that same time period, their return may have been 5.33% year over year (without fees) — almost half! An advisor will strive to provide guidance and education to prevent their client from making rash decisions.

Another area where an advisor can assist clients during volatile stock-market periods (and other times as well) is, if appropriate, potential tax-loss harvesting. If an investor has money that is not in a retirement plan, they can sell positions held at a loss in order to offset any gains held in other stocks. The investor can also offset $3,000 in ordinary income each tax year (if he or she has already offset gains) and carry forward unused losses to be used against gains in future years.

The investor would want to be aware of wash sales rules, which prohibit selling an investment for a loss and replacing it with the same or a ‘substantially identical’ investment 30 days before or after the sale. This would void the loss that the investor was deliberately trying to achieve. The investor is allowed to sell a stock at a loss and buy a similar one in the same industry so that he or she can continue to have their money working for them. Tax planning in volatile times could be part of your financial plan as well.

Sometimes during volatile market periods, an advisor may strive to counsel a client to change their withdrawal strategy from their portfolio or offer advice on large purchases that can be financed another way. I have often counselled clients on the options available to them, from where to draw money for their monthly expenses. In a volatile market, for many clients, using cash savings to pay monthly expenses can take the stress off a portfolio that has declined.

The greatest benefit to you from using a financial advisor is having someone to listen to you, someone for you to seek out and reassure you that, based on history, industry knowledge, and their experience in the financial world day after day, you can pursue financial independence.

 

Barbara Trombley, MBA, CPA is an owner and financial consultant with Trombley Associates. Securities offered through LPL Financial. Member FINRA/SIPC. Advisory services offered through Trombley Associates, a registered investment advisor and separate entity from LPL Financial. This material was created for educational and informational purposes only and is not intended as ERISA tax, legal, or investment advice. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results.

Education

What’s the Word?

Caroline Gear says the pandemic brought challenges

Caroline Gear says the pandemic brought challenges to ILI, but also new ways of connecting with language learners.

 

A global pandemic hit businesses and nonprofits in different ways. For the International Language Institute of Massachusetts (ILI), which relies on a steady flow of international students, the impact was especially great, as global travel slowed and those connections quickly dried up.

“We went from close to $350,000 a year in our Intensive English programs to $86,000,” said Caroline Gear, the institute’s executive director since 2015. She noted that the CARES Act and other emergency COVID relief, PPP loans, and an employee-retention tax credit helped ILI over the roughest whitewater, and international students are coming back … to an extent.

“I don’t think it’s ever going to come back to pre-pandemic times, but I like to say that we’re emerging anew,” Gear said. “I wouldn’t call it a recovery, because I don’t think we’ll ever recover to those numbers.”

The headwinds include a strong U.S. dollar making it expensive to travel to the States for study, as well as more competition from other countries with programs that teach English and other languages. “Canada opened up much quicker than us after the pandemic, so a lot of students went to the Canadian market and not to the United States. With Brexit, the U.K. lost a lot of international students, too.”

Still, Gear said, “I believe the United States academic culture and expertise and prestige is number one, but we have to make sure that we stay that way and continue to be welcoming. When you’re looking at where our students are coming from, I love the fact that we’re so diverse.”

The numbers bear that out. ILI’s Free English program alone — just one of several major programs at the institute (more on them later) — boasts 120 students from 27 different countries, ranging in age from 17 to 80. In one change from before COVID, five of the six sections are online, though the Intensive English program, because of its immersive aspect, is delivered in-house.

“We’ve all put in extra time because we all believe in this mission of promoting intercultural understanding and diverse communities through high-quality language and teacher training.”

“When the pandemic hit, we thought we would be back in a few months, but we wound up moving all of our classes online,” Gear said, adding that the Intensive English students were the first to return to face-to-face instruction, in August 2021. “Other than that, most of the classes were still meeting online. Our teachers are amazing; they went from emergency teaching to really creating an amazing curriculum online. Online teaching is another revenue stream, which is important for a nonprofit, but I really didn’t want to do it that way.”

But while much of the live instruction has returned to New South Street in Northampton, remote learning will remain part of the plan going forward, which allows ILI to reach students anywhere.

With nine full-time and 23 part-time instructors and staff at the moment, Gear said, “we’ve all put in extra time because we all believe in this mission of promoting intercultural understanding and diverse communities through high-quality language and teacher training.”

 

An Idea Takes Root

In 1984, Alexis Johnson was a language teacher without a job. But she didn’t lack for vision or passion. So she and another teacher, Janice Rogers, decided to open a language school, one that would meet the needs of myriad clientele, from local non-English speakers aiming to improve their workplace communication to student visa holders preparing for college stateside, to Americans skilled in other languages seeking training to become teachers overseas.

After decades of growth that affirmed her initial vision, Johnson stepped down from the executive director’s chair in 2015 after 31 years, handing the reins to Gear, who has been at the institute since the mid-’80s.

From left, Macey Faiella, director of English Programs; Heather Hall, office manager; Caroline Gear, executive director; and Samira Artur, instructor and program coordinator.

Perhaps the most well-known of ILI’s programs is its World Language program, which teaches a number of languages to students with a variety of goals. Some have a son or daughter marrying someone from another country. Others want to boost their communication skills on the job in an increasingly multi-cultural world. Still others want to advance on the job.

Another popular option is the Free English program, a partially grant-funded initiative that provides free classes for immigrants and refugees looking to improve their English skills for work, college, and their daily lives. English classes meet two evenings a week for a total of six hours.

On the flip side is the Intensive English program, which offers an immersive education for international students, with 21 hours of instruction weekly.

“Maybe their company sends them here, or maybe they know their ability to get a job is improved with a better English level,” Gear said. “The average intensive stay is three months; some take longer. Then they go to university or go home and get a job. Area employers will also send employees here to improve their English.”

Four scholarships — funded by Dean’s Beans; immigration law firm Curran, Berger & Kludt; an anonymous donor, and in honor of a board member’s late uncle, Richard Martin — are offered annually to move four students from the Free English program to Intensive English.

“It’s phenomenal to see what they have to say of the difference between six hours and 21 hours,” Gear said. “It takes about a year of classes in the Free English program to go from one level to another, and now they can do that in three months, so it’s really accelerated learning.”

Meanwhile, students in the University Pathways track of the Intensive English program receive individualized support to transition successfully to a university or college. Instead of cramming for exams or memorizing grammar rules, they practice a set of skills including essay writing, classroom participation, interactive presentations, small-group discussions, team collaboration, academic research, and critical analysis. By focusing less on test taking and more on academic training, they’re better positioned to succeed. 

ILI boasts partnerships with more than a dozen colleges and universities, Gear said, that offer these students conditional admission if they meet certain criteria. “They don’t have to take a standardized English test because those schools trust us and know we won’t recommend them unless they are ready to go. We’ve been in this business many years, and we know when people are ready to be successful.”

She added that, “no matter how great your English level is, academic culture in the United States is completely different from their home culture academically. We get them away from rote learning and rote test taking by working on cultural skills, active participation, written and oral production, independent self-direction, peer collaboration, and critical thinking. It’s really helpful for students because they’re so used to one way of teaching for so many years, and we don’t do it that way here.”

ILI’s Workplace Training program offers language courses for companies and employees that bring specialized language training to the workplace. Small businesses can apply to a state fund that pays for this training, Gear said, which makes sense at a time when worker recruitment and retention are such a challenge.

“We all know the situation with finding employees. So if a company finds a great employee but finds their language skills need improvement, working with the state of Massachusetts to have them pay for it is phenomenal.”

As one example, as Gear was giving a tour of ILI to BusinessWest, Office Manager Heather Hall had just gotten off the phone with Flour Bakery in Boston, which employs more than 400 people and was looking for English and Spanish training for many of its staff.

“I’m always learning from our students, and we are making a difference in so many people’s lives. It’s incredibly gratifying to be able to do this work.”

“We’ve also worked with the Holyoke public school system, where we teach the teachers Spanish and the parents English,” Gear said. “It’s not only about learning a language, it’s about learning a culture, navigating systems, and playing an integral role in making sure people feel safe to take risks and get to the next step of their career.”

The sixth — but certainly not least — major component of ILI’s programs is Teacher Training, specifically the SIT TESOL Certificate program, which becomes the graduate’s ticket to teaching language, both in the U.S. and internationally.

 

Diving In

At the heart of all these programs is a teaching style that, as noted earlier, ditches rote memorization for an immersion approach where constantly putting language into practice, student to student, trumps getting every word perfect.

There’s an element of fun to this immersion, too, Gear said. As one student told her, “we play a lot, but I’m learning a lot.”

Gear and her team are learning, too — about how to navigate a post-COVID world that offers new challenges, but new opportunities as well.

“We’ve diversified more, but we still do the same thing: we teach languages, and we train teachers,” she told BusinessWest, noting that a permanent online presence will be a positive from a revenue and growth perspective.

“It was pandemic-driven because our school runs tuition-based programs that support our partially funded Free English classes. So we need students as well as grants and incredibly generous donors to support our school,” she explained. “We wanted to do online instruction, and now we will always teach online, even as people start to come back to more face-to-face programming.”

After all, she said, “not everyone wants to have classes face to face. There are transportation issues, there are childcare issues, so it’s all about access to education. If we can continue to provide classes to folks virtually and also bring them back in here, that’s a positive.”

At the same time, those in the Teacher Training program are learning to teach online, too, a necessary skill post-COVID.

Coming up on ILI’s annual giving season, when letters of appeal are sent to potential supporters, Gear noted that “it’s not just one thing that runs this school; it’s a variety of revenue streams — tuition-based programs, generous community supporters, grant foundations that support us … and love.”

She’s also hoping for some of the ARPA money being distributed by the city of Northampton, which would be put to use upgrading the institute’s space and air flow as part of a three-phase improvement plan.

But mostly, she’s adapting — and appreciating the impact the International Language Institute has on individuals, families, businesses, and communities both locally and around the world.

“I love my job. I love who I get to work with, what we do to help people to the next step,” she said. “I’m always learning from our students, and we are making a difference in so many people’s lives. It’s incredibly gratifying to be able to do this work. It’s not been easy through the pandemic, but we’ve learned to embrace the uncertainty and look for opportunities.”

 

Joseph Bednar can be reached at [email protected]

Building Trades

Building Trade

Chicopee Mayor John Vieau joins, from left, Revitalize CDC Executive Director Colleen Loveless; Director of Programs Ethel Griffin; and Moyah Smith, board clerk.

 

On Sept. 29, Revitalize Community Development Corp. (CDC) brought its #GreenNFit Neighborhood Rebuild to Chicopee. About 100 volunteers worked on four homes on one block, all in one day. Two of the four homes are owned by U.S. Air Force military veteran families.

“We are so grateful to the city of Chicopee for welcoming us with open arms and supporting our initiative to help make homes safe and healthy for those in need,” said Colleen Loveless, president and CEO of Revitalize CDC, noting that the work the volunteers and building contractors tackled included replacing rotted porches and steps; repairing accessible ramps, roofs, and decks; installing a new shed, windows, storm doors, and gutters; power washing; painting; and yardwork.

Contractors and volunteers get to work.

Contractors and volunteers get to work.

The work was supported financially and with volunteers from American Red Cross and the Chicopee Fire Department, the city of Chicopee, Baystate Health, Berkshire Bank, Blue Cross Blue Shield of Massachusetts, the Center for Human Development, Country Bank, Go Graphix, the MassMutual Foundation, M&T Bank, Ondrick Natural Earth, PeoplesBank, Rocky’s Ace Hardware, TD Bank, and Westfield Bank.

“Our #GreenNFit Neighborhood Rebuild goal is to work on hundreds of homes in targeted neighborhoods, clean up vacant lots, improve playgrounds, and create community gardens,” Loveless said. “Revitalize CDC focuses on making meaningful improvements on homes to help reduce energy use, save money, and create a safe, healthy, and sustainable living environment for our residents and the community.”

Improvements have included installing or retrofitting HVAC systems to allow for oil-to-natural-gas heat and solar conversions; new roofs; energy-efficient windows, doors, and appliances; water-saving plumbing fixtures; electrical upgrades; mold remediation, lead abatement, and pest control; interior and exterior painting; and modifying homes for aging or disabled homeowners, such as building exterior access ramps.

Since Revitalize CDC’s inception in 1992, the organization has repaired and rehabilitated more than 1,100 homes with the help of 10,000 volunteers, investing $42 million into Western Mass. In the past year, Revitalize CDC completed 72 home-repair projects on the homes of low-income families with children, elderly citizens, military veterans, and people with disabilities.

The organiation’s JoinedForces, in partnership with businesses, civic organizations, and other nonprofit agencies, provides veterans and their families with critical repairs and modifications on their homes.