Crain's New York Business reported that kids raise the bar on giving with Facebook fundraisers, even their own foundations.
When Shannon McNamara was 13, her parents took her and her siblings to Peru during summer vacation to volunteer in an orphanage.
“At the beginning of the trip, I was thinking, 'Why can't I be on a cruise ship instead?' ” said Ms. McNamara, now 17 and a senior in high school in Basking Ridge, N.J. But the experience was “worth more than any cruise or trip to Disneyland could give you,” she said.
The family took a similar trip to Africa three years ago, and Ms. McNamara started her own nonprofit, Share (Shannon's After-School Reading Exchange), shortly after to help educate African girls. She has since volunteered in Tanzania every summer, and has collected 23,000 books and shipped them to schools there. She has also begun raising money for scholarships.
Meet the teen philanthropists. Armed with new technology and an awareness of global issues, post-Millennials are engaging in social entrepreneurship in previously unimaginable ways. Though still materialistic, these teens and even preteens want to do something more significant than acquire the latest i-Pod Touch or Wii.
Looking for a purpose
Borrowing from trends in celebrity charity, kids are mobilizing their peers to address everything from infant mortality in developing nations to neighborhood concerns. They're donating presents to charity, and they're establishing their own nonprofits.
“The number of kids creating their own organizations and taking action for causes they care about is skyrocketing,” said Nancy Lublin, chief executive of DoSomething.org, a New York-based nonprofit that helps young people to engage in philanthropy.
“Kids today just saw their parents go through a recession, get laid off and struggle,” Ms. Lublin said. “They look around and say: 'What's the point? I don't just want a second car in my driveway. I want a life of purpose.' ”
In the past year, 79% of girls in the United States have contributed food or clothing, 53% have given their own money, and 66% have asked family or friends to give or volunteer, according to research commissioned by the United Nations Foundation.
READ MORE HERE.
Showing posts with label Entrepreneurial. Show all posts
Showing posts with label Entrepreneurial. Show all posts
Tuesday, February 1, 2011
Tuesday, December 1, 2009
Nonprofits rethinking business model
The Buffalo Business First featured an article about how the region's nonprofits are responding to the difficult economic challenges. As the article relates, they are developing entrepreneurial ventures to generate new dollars for operating:
Small agencies are dealing with it. So are the largest.
Even the millionaire agencies – those with at least a million dollars in revenues that have made it onto the Business First Million Dollar Nonprofits list – say the situation doesn’t appear to be getting easier. They had collective revenues of $1.92 billion in fiscal 2007, but individually many are struggling and seeking ways to stay solvent. Many are exploring new funding options from foundations and contract opportunities as well as earned income through for-profit social enterprises.
Hauptman-Woodward Medical Research Institute will start one such venture Jan. 1 when it begins a management contract with the Industrial Macromolecular Crystallography Association (IMCA), a consortium of nine of the nation’s largest pharmaceutical companies. The five-year contract calls for Hauptman-Woodward to manage IMCA’s Advanced Photon Source near Chicago, where X-rays used for X-ray crystallography are produced.
In addition to the $1 million management fee over a five-year period, the real value of the venture comes in the form of future possibilities, says Eaton “Ed” Lattman, CEO and executive director at HWI, a $7 million organization.
“We earn some money out of it, but we also get on the radar screens of these nine companies,” he says. “It’s at least equally important that we might get them, for example, to be customers of the high output crystallography lab here at the institute, or we might develop intellectual property with one of these firms.”
The agency is not alone. Nonprofits are increasingly investing in social enterprises despite the economic downturn, according to a survey by Community Wealth Ventures Inc. and the Social Enterprise Alliance of Washington, D.C. More than half of the 848 social sector organizations surveyed already operate a social enterprise, while 60 percent indicated they plan to launch another in the next few years.
Those considering their first enterprise cite a motivation to increase revenues and to extend the mission of their organization.
Mark Foley, president and CEO of Community Services for the Developmentally Disabled, says he’s been focusing on better business practices to avoid cutting programs or making layoffs at the $21 million agency. Now he’s beginning to explore the possibility of social enterprise.
“I don’t know that I’ve come up with anything that’s rocket science here,” he says. “Nonprofits have to be more business-like when funding support from donors and government start shrinking.”
The sale of reproduced rare prints and artwork is the newest venture for the Buffalo & Erie County Public Library, which already earns dollars through Fables Cafe in the central library. Bridget Quinn-Carey, executive director, says the library is exploring a variety of opportunities for new revenues.
“We’re rethinking what we’re doing in our retail store too, thinking how can we better take advantage of this great real estate in there,” she says.
A cafe is also bringing in new revenue at the Buffalo Museum of Science. First opened this summer during the run of the popular Body Worlds exhibit, the museum is continuing the venture along with an increased emphasis on facilities rentals such as weddings and events in the main hall as well as the auditorium.
CEO Mark Mortenson says the nearly $3.3 million organization is looking at expanding those opportunities, as well as overnight programming for families.
“We always want to make sure it’s a unique experience every time an individual comes here,” he says. “We have a three-year approved strategic plan now aimed at identifying funding opportunities to change experiences throughout the museum.”
Habitat for Humanity Buffalo, with overall revenues of $1.5 million, has found better than expected success through its Restore, a retail shop that sells donated goods including building supplies, appliances, furniture and housewares. Over the four years since it opened in North Buffalo, the store has generated $500,000 in income, enough funds to build 12 houses.
David Zablotny, executive director, says the venture is working.
“It’s been much better than anyone has expected,” he says, adding that the agency is looking at whether it would make sense to add a second outlet, as other Habitat chapters have done. “That money we brought in through the Restore last year Is about 12 percent of our revenues, so we’re looking to find ways to increase that number.”
The YWCA of Niagara began a social enterprise last year with the creation of The Catering Crew, a catering company/culinary training program for the women living at its Carolyn’s House shelter in Niagara Falls. In this case, the venture serves a dual purpose: providing women with both training and a paycheck, and with additional revenues funneled back into the program. Read more here.
Small agencies are dealing with it. So are the largest.
Even the millionaire agencies – those with at least a million dollars in revenues that have made it onto the Business First Million Dollar Nonprofits list – say the situation doesn’t appear to be getting easier. They had collective revenues of $1.92 billion in fiscal 2007, but individually many are struggling and seeking ways to stay solvent. Many are exploring new funding options from foundations and contract opportunities as well as earned income through for-profit social enterprises.
Hauptman-Woodward Medical Research Institute will start one such venture Jan. 1 when it begins a management contract with the Industrial Macromolecular Crystallography Association (IMCA), a consortium of nine of the nation’s largest pharmaceutical companies. The five-year contract calls for Hauptman-Woodward to manage IMCA’s Advanced Photon Source near Chicago, where X-rays used for X-ray crystallography are produced.
In addition to the $1 million management fee over a five-year period, the real value of the venture comes in the form of future possibilities, says Eaton “Ed” Lattman, CEO and executive director at HWI, a $7 million organization.
“We earn some money out of it, but we also get on the radar screens of these nine companies,” he says. “It’s at least equally important that we might get them, for example, to be customers of the high output crystallography lab here at the institute, or we might develop intellectual property with one of these firms.”
The agency is not alone. Nonprofits are increasingly investing in social enterprises despite the economic downturn, according to a survey by Community Wealth Ventures Inc. and the Social Enterprise Alliance of Washington, D.C. More than half of the 848 social sector organizations surveyed already operate a social enterprise, while 60 percent indicated they plan to launch another in the next few years.
Those considering their first enterprise cite a motivation to increase revenues and to extend the mission of their organization.
Mark Foley, president and CEO of Community Services for the Developmentally Disabled, says he’s been focusing on better business practices to avoid cutting programs or making layoffs at the $21 million agency. Now he’s beginning to explore the possibility of social enterprise.
“I don’t know that I’ve come up with anything that’s rocket science here,” he says. “Nonprofits have to be more business-like when funding support from donors and government start shrinking.”
The sale of reproduced rare prints and artwork is the newest venture for the Buffalo & Erie County Public Library, which already earns dollars through Fables Cafe in the central library. Bridget Quinn-Carey, executive director, says the library is exploring a variety of opportunities for new revenues.
“We’re rethinking what we’re doing in our retail store too, thinking how can we better take advantage of this great real estate in there,” she says.
A cafe is also bringing in new revenue at the Buffalo Museum of Science. First opened this summer during the run of the popular Body Worlds exhibit, the museum is continuing the venture along with an increased emphasis on facilities rentals such as weddings and events in the main hall as well as the auditorium.
CEO Mark Mortenson says the nearly $3.3 million organization is looking at expanding those opportunities, as well as overnight programming for families.
“We always want to make sure it’s a unique experience every time an individual comes here,” he says. “We have a three-year approved strategic plan now aimed at identifying funding opportunities to change experiences throughout the museum.”
Habitat for Humanity Buffalo, with overall revenues of $1.5 million, has found better than expected success through its Restore, a retail shop that sells donated goods including building supplies, appliances, furniture and housewares. Over the four years since it opened in North Buffalo, the store has generated $500,000 in income, enough funds to build 12 houses.
David Zablotny, executive director, says the venture is working.
“It’s been much better than anyone has expected,” he says, adding that the agency is looking at whether it would make sense to add a second outlet, as other Habitat chapters have done. “That money we brought in through the Restore last year Is about 12 percent of our revenues, so we’re looking to find ways to increase that number.”
The YWCA of Niagara began a social enterprise last year with the creation of The Catering Crew, a catering company/culinary training program for the women living at its Carolyn’s House shelter in Niagara Falls. In this case, the venture serves a dual purpose: providing women with both training and a paycheck, and with additional revenues funneled back into the program. Read more here.
Saturday, November 7, 2009
SU, Cornell, University of Rochester collaborate to find solutions to CNY brain drain in upcoming charrette, Nov. 13-15
Thirty-six students from Syracuse University, Cornell University and the University of Rochester will come together Nov. 13-15 for a charrette to address and work on creative solutions to one of the toughest problems facing Upstate New York: retaining smart, hard-working young people post-graduation.
The Friday through Sunday charrette, titled "Work/Play/Stay," will take place on the fourth floor of The Warehouse, 350 W. Fayette St., Syracuse, culminating with a presentation of ideas after a 1 p.m. reception on Sunday, Nov. 15.
A charrette–sometimes called a design charrette–is an intense, design-based collaborative project. Charrettes serve as a way of quickly generating a design solution through collaborative work, integrating the aptitudes and interests of a diverse group of people. For the upcoming "Work/Play/Stay" charrette, each university selected 12 students from a variety of disciplines and schools.
The idea for an entrepreneurial collaboration of the three universities came from Neil Tarallo, assistant professor of clinical entrepreneurship at SU's Whitman School of Management, who had once been an entrepreneur in the Ithaca area.
"Typically, it's industry leaders and government officials that talk about this issue, but as entrepreneurs we know that customers' opinions are very important, so it seems logical that we should ask the students what they think," says Tarallo. Read more here.
The Friday through Sunday charrette, titled "Work/Play/Stay," will take place on the fourth floor of The Warehouse, 350 W. Fayette St., Syracuse, culminating with a presentation of ideas after a 1 p.m. reception on Sunday, Nov. 15.
A charrette–sometimes called a design charrette–is an intense, design-based collaborative project. Charrettes serve as a way of quickly generating a design solution through collaborative work, integrating the aptitudes and interests of a diverse group of people. For the upcoming "Work/Play/Stay" charrette, each university selected 12 students from a variety of disciplines and schools.
The idea for an entrepreneurial collaboration of the three universities came from Neil Tarallo, assistant professor of clinical entrepreneurship at SU's Whitman School of Management, who had once been an entrepreneur in the Ithaca area.
"Typically, it's industry leaders and government officials that talk about this issue, but as entrepreneurs we know that customers' opinions are very important, so it seems logical that we should ask the students what they think," says Tarallo. Read more here.
Sunday, May 17, 2009
$10M fund to help entrepreneurs create new companies
A recent article offers some food for thought concerning a group of foundations partnering together to support new ways to respond to the present economy:
The New Economy Initiative for Southeast Michigan and the Ewing Marion Kauffman Foundation are expected to announce Monday afternoon that they have formed a partnership to be based at TechTown to help spur entrepreneurship and create 400 new companies each year in Southeast Michigan.
On Thursday, the board of directors at the NEI, made up of 10 private, mostly Michigan-based foundations, approved the initiative and more than $9 million in funding to begin several economic development programs.
It is expected that TechTown, the technology park and business incubator affiliated with Wayne State University, will receive about $4.5 million of NEI’s second-round funding over three years to scale up its entrepreneurial support projects.
Shorebank, a Chicago-based bank that focuses on community development and has a branch in Detroit, will receive about $1.5 million to provide seed funding for new companies, and minority auto suppliers will receive about $3 million.
“Our programming is definitely coming to Detroit,” said Joy Torchia, director of communications for the Kansas City, Mo.-based Kauffman Foundation. “We’re coming because NEI has asked us to help with their initiative.”
With an endowment of nearly $2.1 billion, according to its Web site, the Kauffman Foundation is one of the 30 largest foundations in the U.S. and regarded as the world’s largest foundation devoted to entrepreneurship. It will become an 11th member in the New Economy Initiative, contributing expertise in entrepreneurial training. “Over the next three years, we are setting out to establish…new companies, and to do so we will utilize every resource — Wayne State, the Henry Ford Health System, Wayne County, the University of Michigan, Ann Arbor Spark, Michigan State and Automation Alley,” Randal Charlton, TechTown’s executive director, said on Friday.
“The details have yet to be worked out, but the building blocks are in place and the work starts tomorrow.”
Launched in 2007, the New Economy Initiative is funded by contributions from 10 local and national foundations: Detroit-based Community Foundation for Southeast Michigan, Southfield-based Max M. and Marjorie S. Fisher Foundation, New York-based Ford Foundation, Detroit-based Hudson-Webber Foundation, Battle Creek-based W.K. Kellogg Foundation, Miami-based John S. and James L. Knight Foundation, Troy-based Kresge Foundation, McGregor Fund in Detroit, Flint-based Charles Stewart Mott Foundation and Skillman Foundation in Detroit.
“I am absolutely delighted to see the Kauffman Foundation bringing their program on urban development to Detroit,” said Tom Anderson, a senior vice president at Troy-based Automation Alley, who was on a conference call Thursday afternoon when the NEI spelled out details to local economic development officials, including Mike Finney, president and CEO of Ann Arbor Spark and Turkia Mullin, Wayne County’s assistant county executive and chief development officer.
“It’s a wonderful thing NEI is doing, deciding to make this significant commitment of resources to transform the community through entrepreneurial resources,” said Finney. “It’s great they are basing it at TechTown. It puts it absolutely at ground zero."
The New Economy Initiative for Southeast Michigan and the Ewing Marion Kauffman Foundation are expected to announce Monday afternoon that they have formed a partnership to be based at TechTown to help spur entrepreneurship and create 400 new companies each year in Southeast Michigan.
On Thursday, the board of directors at the NEI, made up of 10 private, mostly Michigan-based foundations, approved the initiative and more than $9 million in funding to begin several economic development programs.
It is expected that TechTown, the technology park and business incubator affiliated with Wayne State University, will receive about $4.5 million of NEI’s second-round funding over three years to scale up its entrepreneurial support projects.
Shorebank, a Chicago-based bank that focuses on community development and has a branch in Detroit, will receive about $1.5 million to provide seed funding for new companies, and minority auto suppliers will receive about $3 million.
“Our programming is definitely coming to Detroit,” said Joy Torchia, director of communications for the Kansas City, Mo.-based Kauffman Foundation. “We’re coming because NEI has asked us to help with their initiative.”
With an endowment of nearly $2.1 billion, according to its Web site, the Kauffman Foundation is one of the 30 largest foundations in the U.S. and regarded as the world’s largest foundation devoted to entrepreneurship. It will become an 11th member in the New Economy Initiative, contributing expertise in entrepreneurial training. “Over the next three years, we are setting out to establish…new companies, and to do so we will utilize every resource — Wayne State, the Henry Ford Health System, Wayne County, the University of Michigan, Ann Arbor Spark, Michigan State and Automation Alley,” Randal Charlton, TechTown’s executive director, said on Friday.
“The details have yet to be worked out, but the building blocks are in place and the work starts tomorrow.”
Launched in 2007, the New Economy Initiative is funded by contributions from 10 local and national foundations: Detroit-based Community Foundation for Southeast Michigan, Southfield-based Max M. and Marjorie S. Fisher Foundation, New York-based Ford Foundation, Detroit-based Hudson-Webber Foundation, Battle Creek-based W.K. Kellogg Foundation, Miami-based John S. and James L. Knight Foundation, Troy-based Kresge Foundation, McGregor Fund in Detroit, Flint-based Charles Stewart Mott Foundation and Skillman Foundation in Detroit.
“I am absolutely delighted to see the Kauffman Foundation bringing their program on urban development to Detroit,” said Tom Anderson, a senior vice president at Troy-based Automation Alley, who was on a conference call Thursday afternoon when the NEI spelled out details to local economic development officials, including Mike Finney, president and CEO of Ann Arbor Spark and Turkia Mullin, Wayne County’s assistant county executive and chief development officer.
“It’s a wonderful thing NEI is doing, deciding to make this significant commitment of resources to transform the community through entrepreneurial resources,” said Finney. “It’s great they are basing it at TechTown. It puts it absolutely at ground zero."
Friday, February 20, 2009
New Entrepreneurial Training Partnership Announced
The Kauffman Foundation is partnering with the Deluxe Corporation Foundation to bring a $1 million initiative to offer the FastTrac LaunchPad entrepreneurial training programs in communities across the nation that have been hit hard by layoffs and the recession. NYC was the first site announced. For more infomation on this program, click here.
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