Word: nonprofit
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...worst mistake a nonprofit can make is to take all the money you're given and be beholden to doing things on someone else's terms." That's how Linda Rottenberg explains turning down an enviable $450,000 grant last March from the government of Chile to her nonprofit organization, Endeavor. Like most government gifts, it came packaged in red tape. At the time, Chilean President Ricardo Lagos--and no doubt many of Rottenberg's fellow nonprofiteers--had two printable words for her: "You're crazy...
Since Endeavor began helping out, those businesses have generated more than $390 million in revenue and created more than 5,700 new jobs. There's only one stipulation: Endeavor's companies must continue the virtuous circle, giving money back to the nonprofit organization and donating time to educate those who would follow in their footsteps...
Rottenberg's own journey began after Yale Law School when she took a job in Buenos Aires working for Ashoka, the nonprofit that pioneered venture philanthropy by giving small cash infusions to local groups across the globe. On a recruiting trip to Harvard Business School, Rottenberg met Kellner, who had co-founded a Western-managed independent oil company in Russia, and they scoured Chile and Argentina for people with outsize ideas. "We found a sheep farmer in Patagonia who was a real computer genius but just didn't have the right tools," says Rottenberg, 33. "We only needed to open...
...raise money for an international development agency, he was stunned by how little number crunching potential donors could do. So he struck out on his own, borrowing 50 shoe boxes of microfilm from the National Center for Charitable Statistics, and in 1996 began posting the financial data of nonprofit organizations on the Web. Three years later, the former agribusiness executive started airing Internal Revenue Service Form 990s, which charities are required to file if they receive $25,000 or more in donations...
Harvard is currently a member of the Fair Labor Association, a nonprofit White House initiative to monitor labor practices around the world. HSAS wants Harvard to switch to the Worker Rights Consortium (WRC), a labor-based independent monitoring group that they contend is the only organization consistent with Harvard’s labor policies...