Nonprofits make strides in start-up arena ALL Edition

Experts have coined businesses run by nonprofits as "social- purpose ventures." The ventures combine seemingly conflicting objectives: running a revenue-generating business while delivering on a nonprofit's social mission - whether it's saving the environment or serving the homel...

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Bibliographic Details
Published inThe Christian Science monitor (1983)
Main Author Jeremiah A. Hall Special to The Christian Science Monitor
Format Newspaper Article
LanguageEnglish
Published Boston, Mass The Christian Science Publishing Society (d/b/a "The Christian Science Monitor"), trusteeship under the laws of the Commonwealth of Massachusetts 10.03.2003
Subjects
Nonprofit organizations
Startups
Venture capital
SAN FRANCISCO
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Summary:Experts have coined businesses run by nonprofits as "social- purpose ventures." The ventures combine seemingly conflicting objectives: running a revenue-generating business while delivering on a nonprofit's social mission - whether it's saving the environment or serving the homeless. "This won't necessarily save nonprofits, but it certainly gives them a new revenue stream and a new opportunity to deliver on their mission," says Jaycee Pribulsky, program manager for Seedco, a New York-based nonprofit organization that helps small nonprofits construct and fund business ventures in more than a dozen states. "These programs are having a real impact [on the community] by giving many a second chance and keeping others off the streets." "Ultimately nonprofits are looking for ways to shield themselves from economic uncertainty, but they have to understand that it's not always easy and it won't completely replace traditional fundraising," says William Grinker, Seedco's director. "There has to be an inherent way to merge the business with the mission. If you can't do that then a business venture won't be easy."
ISSN:0882-7729
2166-3262