Creative Ways to Finance Non-Profit Organizations
July 20, 2011 Leave a Comment
I attended a fundraiser for the South End Community Health Center a few days ago. Growing up in the South End helped to make this fundraiser even more special. As I took in the sights and sounds of the neighborhood, I considered how much the neighborhood had changed since I was a kid. When I lived in the neighborhood, the area the South End Community Health Center occupied was a vacant and unkempt lot. Now, the Center serves thousands of residents annually. In speaking to folks at the Center, I learned of the creative way the South End Community Health Center was financed.
Like many other non-profits, the South End Community Health Center counted on grants, fundrasing and the generosity of supporters in order to keep its doors open. In the early 2000’s the Center had outgrown its space and was looking for ways to finance a new building. In the end, folks at the South End Community Health Center worked with the Boston Redevelopment Authority, R. F. Walsh Company, and Kenney Development to rehabilitate the old Boston College High school building and also construct new town homes to help raise money for the new Center. The proceeds from the sale of the town homes plus a donation to the South End Community Health Center helped pave the way for the new building and grounds. Take a look at the details here.
Looking for a creative way to finance a non-profit organization? Perhaps partnering with a for-profit may be a good idea for you too.