Yale School of Management - The Goldman Sachs Foundation Partnership on Nonprofit Ventures Announces National Business Plan Competition Finalists
464 Nonprofit Organizations Enter Competition;
20 Are Selected to Final Round to Compete for $500,000 in Prize Money and Business Planning Assistance
New Haven, Conn., March 3, 2005 - “The Yale School of Management - The Goldman Sachs Foundation Partnership on Nonprofit Ventures” announced its selection of 20 nonprofit organizations to proceed to the final round of the Third National Business Plan Competition for Nonprofit Organizations.
The 20 finalists are in the planning stage, or early stages of operating income-generating business ventures. They will spend the next three months working with business planning consultants and Yale School of Management students to strengthen and finalize their business plans.
On June 9 - 10, 2005, the 20 nonprofit finalists will present their business plans to a panel of expert judges at the Third Annual Conference and Awards Ceremony in Jersey City, New Jersey at the Hyatt Regency on the Hudson. The judging panel will select four grand-prize recipients, each of whom will receive $100,000 and four runners-up, each of whom will receive $25,000. In addition to cash awards, the winners will receive hundreds of hours of business planning consultations to assist their organizations in implementing their business ventures.
Stanley J. Garstka, Deputy Dean of the Yale School of Management and co-faculty director of The Partnership commented, “The Partnership, in its fourth year, continues to reach thousands of nonprofits interested in exploring the growing field of social entrepreneurship. We have demonstrated the viability of the idea that nonprofits engage in for profit activity to partially fund their financial needs. The success of the venture has exceeded even our wildest dreams. As planned, Yale and its two major benefactors on this initiative—the Pew Charitable Trusts and the Goldman Sachs Foundation—will pass the reins to a new group of leaders. We look forward to seeing their unique contributions, and watching as they help guide The Partnership on its journey to the next stage of development."
Yale School of Management Professor Sharon M. Oster, a leading authority on competitive strategy and nonprofit management and co-faculty director of The Partnership, added, “Once again we have been delighted with the quality of the ideas and business plans generated by the hundreds of nonprofit organizations that have entered the National Business Plan Competition for Nonprofit Organizations. Our special thanks go to our partners--The Goldman Sachs Foundation and the Pew Charitable Trusts—for their encouragement and active participation in the process and to the hundreds of loyal Yale SOM alumni who have worked with us in the last four years to make this a great competition."
THIRD NATIONAL BUSINESS PLAN COMPETITION
FOR NONPROFIT ORGANIZATIONS
FINALISTS SELECTED TO ROUND III
The Charter School Breakfast and Lunch business will employ students in the Amos House culinary training program to cook and market nutritious meals to area schools. The culinary training program works with people who are overcoming barriers to entering the workforce - including the homeless, ex-offenders, and those with a history of mental health issues or substance abuse - and certifies them for entry-level employment.
Camp Arena Stage in Washington, D.C. will offer classes in theater, music, dance and visual arts - taught by professional, accomplished artists and educators - to campers from diverse economic and racial backgrounds.
Brooklyn AIDS Task Force
In collaboration with other Brooklyn community organizations, the Brooklyn AIDS Task Force has created Brooklyn Justice Center, a business that will market affordable, comprehensive legal business and litigation services to vulnerable community organizations with budgets of $5 million or less. BJC will initially target HIV/AIDS service organizations in the borough, and in the future will serve other disenfranchised populations as well.
The Caroline Center, a job training and education program for low-income women in Baltimore, operates Caroline Center Upholstery - a custom retail upholstery shop serving both residential customers and large, commercial entities in the Baltimore area.
EcoLogic Finance is a nonprofit financial services organization that provides affordable credit, including pre-shipment trade credit and capital goods financing, to enterprises located in environmentally sensitive areas. EF markets these products in Latin America, and plans to expand to locations in Africa.
Ecotrust Forests, LLC is an Oregon limited liability company that will capitalize a $12 million fund to acquire and manage forestlands in the western U.S. and Canada, with a focus on building forest health and long-term value. The Fund expects to profit largely from the sale of timber, and also from conservation easements, recreation leases, appreciated value due to tree growth, and, where appropriate and consistent with mission, limited sale of real estate parcels for residential, commercial and recreational use.
Educational Broadcasting Corporation
New York, NY
EGG TV is a set of DVDs and standard-based lesson plans, organized by academic discipline and based on video segments from the PBS arts series EGG, that will be produced and marketed by The Educational Broadcasting Corporation (Thirteen/WNET New York) to schools, cultural institutions, and other organizations.
First Book Marketplace is a new website that will market low cost, high quality new children's books to nonprofit organizations and others that serve disadvantaged children. First Book Marketplace will acquire very large quantities of each title at deep discounts from its publishing partners, and sell them to its target markets at $1.00-$2.50 per book, a price that includes a margin for both the publisher and First Book.
Haley House will establish a wholesale bakery business and cafe in Dudley Square, a distressed business district in Boston. The venture will contribute to the revitalization of the district by creating jobs, offering job training, and providing healthy, fresh baked goods to the community.
Housing Partnership Network, The
The Housing Partnership Network has created a captive insurance company for its member organizations in response to unstable coverage and rising costs of property and liability insurance. Housing Partnership Insurance, Inc. markets cost-effective property and liability insurance to its network of members, who collectively represent a portfolio of more than 30,000 affordable apartments nationwide.
Lee Pesky Learning Center
The Bee Books Initiative will create and distribute a new series of educational materials for parents and children ages 0-8 years that will improve children's ability to learn. The business will market two lines of books and accessories; one to parents (the Literacy Bee books) and the other to children (the Pesky Bee books).
National Center for Family Philanthropy
Family Philanthropy Online is a subscription-based online content service for community foundations, regional associations, and other local and regional networks of donors and foundations. FP Online provides users with 24-hour, 365-day-a-year access to cutting edge information on trends, strategies, and research for community-based philanthropy. The business specializes in working with local community foundations and advisory networks to connect individual and family donors with the leading providers of content and information needed for effective philanthropy.
New England Heritage Breeds Conservancy
500 Farms offers a variety of services to farms that raise livestock to help ensure their profitability including training, technical assistance, and livestock purchasing and processing. The business also markets two brands of natural grass-fed beef and other natural meat products throughout the region.
New Jersey Performing Arts Center
The New Jersey Performing Arts Center, the sixth largest performing arts center in the United States, will develop a 5-acre site it controls adjacent to its theaters for mixed-use, arts and cultural activities.
New Sector Alliance
New Sector partners with leading academic institutions and businesses to deliver affordable, high impact consulting services to nonprofit organizations and other social enterprises.
New York, NY
NPOWER BASIC is a technology service that meets the basic technology needs of small nonprofits. The service provides a pre-configured desktop and/or network, and includes installation, remote monitoring, help desk, and emergency support.
Points of Light Foundation
MissionFish helps nonprofits raise money through sales on eBay. The business offers eBay sellers the opportunity to donate a portion of their proceeds to nonprofit organizations, and thereby turn online trading into a new revenue stream for good causes.
Redmoon Theater creates theatrical spectacles that transform public spaces into places of celebration. Its venture, Redmoon for Hire, offers party entertainment for corporate events, grand openings, civic celebrations such as parades, and private functions such as weddings, bar/bat mitzvahs, and milestone birthdays.
Wai`anae Community Re-Development Corporation
The Wai`anae Organic Farmer's Cooperative is an organic farming venture co-owned and operated by youth from the Wai`anae community in Hawaii.
Women's Transition Project
The Women's Transition Project provides vocational opportunities for homeless women in rural Southeast Arizona by teaching them to construct hand-made furniture, and to sell it and other artwork in their retail store, the Belleza Gallery.
About The Partnership on Nonprofit Ventures
The Partnership on Nonprofit Ventures was funded through combined grants totaling $6 million made by The Goldman Sachs Foundation and The Pew Charitable Trusts. The Yale School of Management - The Goldman Sachs Foundation Partnership on Nonprofit Ventures educates nonprofits about social enterprise, serves as a mechanism for capitalizing promising profit-making ventures with financial support, and provides intellectual capital to build the practice of social entrepreneurship in the nonprofit sector at-large. As its signature event, The Partnership runs the National Business Plan Competition for Nonprofit Organizations. The Partnership maintains a comprehensive online Resource Center with current research, articles, and discussion boards on the subject of social enterprise and social entrepreneurship.
About The Yale School of Management
The mission of the Yale School of Management is to educate leaders for business and society. The school prides itself on preparing men and women to combine rigorous business skills with a broader appreciation for the economic, social, and political factors that shape the global environment. The Partnership on Nonprofit Ventures brings together three strands of the Yale School of Management’s teachings-entrepreneurship, business skills, and social responsibility-to nonprofit organizations, infusing its program with the philosophy that superb business and management skills are a critical ingredient for leadership in every sector of the economy - private, public, and nonprofit. Since 1993, the Yale School of Management has been consistently rated #1 in Nonprofit Management among the nation’s graduate management programs by U.S. News and World Report.
About The Goldman Sachs Foundation
The Goldman Sachs Foundation is a global philanthropic organization funded by The Goldman Sachs Group, Inc. The Foundation’s mission is to promote excellence and innovation in education and to improve the academic performance and lifelong productivity of young people worldwide. It achieves this mission through a combination of strategic partnerships, grants, loans, private sector investments, and the deployment of professional talent from Goldman Sachs. Funded in 1999, the Foundation has awarded grants in excess of $43 million since its inception, providing opportunities for young people in more than 20 countries.
About The Pew Charitable Trusts
The Pew Charitable Trusts serve the public interest by providing information, policy solutions and support for civic life. Based in Philadelphia, with an office in Washington, D.C., the Trusts make investments to provide organizations and citizens with fact-based research and practical solutions for challenging issues. In 2003, with approximately $4.1 billion in dedicated assets, the Trusts committed more than $143 million to 151 nonprofit organizations.