Finance Gurus Ignite NonProfit World
Venture capital firms are a dime a dozen nowadays, and most start-ups and entrepreneurial pursuits can't get enough of the wave of new money.
What about charity, nonprofits and philanthropy? Aren't organizations who hold 501(c)(3) or 501(c)(6) filing status just as viable to be funded by investors?
Yes, according to Flatiron Partners, a New York City-based venture capital firm that has just announced two new projects in its huge portfolio. Under the umbrella of the Flatiron Future Fund, one is designed to help jump-start 'social' entrepreneur projects, while the other is a public charity.
While the fund does not promise to deliver huge returns like its other funds, the priority rests in bringing new ideas to market and helping the socially conscious society.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.