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Overview: IMPACT+ is a 6-class series designed to support nonprofit administrators and board members interested in implementing or growing an earned income stream within their organization. The series will take place over 6 weeks and each class will last approximately 3 hours. In between classes, participants will complete assignments designed to advance their enterprise and will also have the opportunity to engage one-on-one with course instructors and coaches. Participating organizations are encouraged to bring two attendees, and the series is limited to only 10 organizations (max 20 people). Registration open: June 1 - 15, 2020 Requirements:
● Class 1: Finding Your Inner Entrepreneur and Learning from Local Case Studies The day-to-day demands and ceaseless pressures of the nonprofit sector can feel overwhelming and, sometimes, just making it through the day can feel like an accomplishment. What can nonprofit leaders do within this complex environment, to create time, space and energy for creativity and innovation? This session will help you generate new ideas and demonstrate how entrepreneurial thinking can help move your organization forward. A panel of experienced social entrepreneurs will share their insights “from the trenches.” How will an integrated auxiliary impact your nonprofit? What have they learned? What would they do differently? What is their advice to you? Through a focus on lived experience, this round table discussion will provide a real look at the process of starting and running an earned income model within an existing nonprofit. ● Class 2: Identifying your Nonprofit's Unrealized Assets and Getting the Board on Board How can your nonprofit put existing assets to work in a way that could create a sustainable form of revenue for your mission now and into the future? This interactive session challenges participants to identify at least 4 assets that their nonprofit already has that could be deployed to generate revenue via an intentional earned income strategy. Human capital is the greatest asset for any organization with the largest investment derived from board of directors. In general, boards of directors are wary of organizational risk. No one wants to serve on a board that oversees a period of loss, and directors are justifiably cautious when it comes to risking a nonprofit’s hard-earned assets on something that may or may not work out. This session will address how agencies can facilitate board confidence through due diligence, risk management and sound modeling. ● Class 3: Legal, Tax & Other Implications For nonprofits, concerns about the legal and tax implications of starting an integrated social enterprise auxiliary can prevent forward progress. This session will help participants figure out what questions they need to ask themselves, their boards, and their attorneys, CPAs and others, before implementing a new venture. Knowledge is power… make sure you’re armed with the facts! ● Class 4: Developing a Strong Business Plan You have a strategic plan for your organization, but what about a business plan for your earned income venture? This session will help you identify the considerations your nonprofit will need to take into account before launching, as well as give you an opportunity to begin documenting how your new enterprise will operate, both independently and within the existing framework of your nonprofit. The essential components of the business plan will be created in this session. ● Class 5: Finding and Funding the Help You Need Tallahassee was recently listed as one of the top 50 cities in the country for entrepreneurs. Do you know where to go to access additional support and resources as you work to launch your nonprofit’s new enterprise? There are numerous entrepreneurship networks of individuals and mentors that can assist in your success. In addition to having a support network, you also need start-up funds for your enterprise. This class will focus on options for funding your vision – social investing, venture philanthropy, traditional loans, and creative fundraising. Now that your agency knows where it’s going, let’s work on finding some money to help get it there! This session will connect you with a panel of experts who can help you succeed and valuable resources to help fund your enterprise. ● Classes 6: Pitch Perfect It’s time to make your pitch! Each representing organization will have 3 minutes to make their presentation to the judges, followed by 5 minutes of Q&A and feedback. After hearing all 10 presentations, the judges will select 3 finalist. The top 3 finalist will make their pitch before a panel of distinguished judges and attendees of the 4th Annual Sector Forward Conference. All participants will be invited and recognized at the “Pitch Finalist” event. Pitch Finalist Event The final three organizations, will have the opportunity to make 10 minute presentation to a group of seasoned social entrepreneurs and receive feedback about their concept/overall business plan. After viewing all presentations, the judging panel will select a winning nonprofit agency. The first place winner of the Pitch will receive $5,000 in seed capital to support the launch or expansion of their organization’s earned income enterprise; second place will receive $3,000 and third place $2,000. The pitch will take place as part of the 5th Annual Sector Forward Summit activities on Thursday, September 5th. All participant of IMPACT+ are invited to attend and witness the final three organizations in the Pitch. Projected Timeline
*Excludes Reciprocal, Individual and Student Membership IMPACT+ is made possible via a generous grant from the Knight Foundation Fund, a component fund at The Community Foundation of North Florida.
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