New & Noteworthy
Hartford Foundation Social Enterprise Program Boosts Nonprofits’ Earned Income Potential
Up to $120,000 in Matching Gifts Will Fuel Four Organizations’ Social Enterprises
Nonprofit organizations across Greater Hartford face increased demand for services, while they struggle to raise sufficient funds. Several local organizations are proactively meeting this challenge through social enterprise: selling a product or service that complements their mission and supports the financial sustainability of the organization.
This self-supporting approach to revenue generation is new to many nonprofits in Greater Hartford. In response, the Hartford Foundation for Public Giving, and its Nonprofit Support Program (NSP) launched the Social Enterprise Accelerator, designed to help organizations expand beyond traditional grants and donations. The first group of ten nonprofits started the program in 2018; the second group of six began in 2021; the third group of eight began in 2024; and there are currently four organizations engaged in the process.
The Foundation has created a matching challenge: for every dollar of start-up capital raised by the nonprofits in the current group, the Foundation will match dollar for dollar, up to 50 percent of each organization’s goal, not to exceed $30,000. The announcement followed “Fast Pitch” sessions on June 17 when organizations presented their business plans to current and potential donors and made a direct ask for financial support toward startup capital needs. The matching challenge runs through September 17.
“The enthusiasm and effort that area nonprofit organizations have brought to the Social Enterprise Accelerator program has far exceeded our expectations,” said Meher Shulman, Associate Director of the Nonprofit Support Program. “While the creative ideas these organizations have brought forward are truly exciting, we have been even more impressed by their level of commitment to developing detailed and viable business plans. Nonprofits in Greater Hartford have an appetite for social enterprise and a need for new revenue sources; we are proud to help them meet that need.”
This cohort began the three-year program in October 2024 with a series of four intensive workshops and individualized consultations on social enterprise. These four organizations will access additional business plan development, implementation support and fundraising coaching. The Social Enterprise Accelerator is provided in partnership with No Margin, No Mission, a national consulting firm dedicated to helping nonprofits increase their earned income and entrepreneurial capacity.
The four participating organizations include:
Charter Oak Cultural Center - Bien Venue, venue rentals in the historic sanctuary, galleries, classrooms, and other spaces. Bookings may be enhanced with arts and cultural programs, workshops and community engagement activities.
Ebony Horsewomen, Inc. - Black Boots Venue Rentals, in the Mary Fields Museum & Conference Center and outdoor tent pavilion. Bookings may be enhanced with services including horseback riding, hayrides, sleigh rides, and other equine experiences.
Journey Home - Journey Home Thrift Store, offering high-quality, gently- used household items and furniture at deeply discounted prices.
Our Piece of the Pie - OPP U, designed to equip youth-serving professionals with impactful, skill-building training on topics such as Mental Health First Aid, Positive Youth Development, DEIJB, Trauma-Informed Care, and the TEB (Thoughts, Emotions, Behaviors) framework.
Established in the late 1980s, the Nonprofit Support Program (NSP) at the Hartford Foundation is key to the Foundation's capacity-building efforts, annually serving more than 200 nonprofits and giving $2 million in grants. NSP's close contact with Greater Hartford's nonprofits provides it with a unique understanding of the trends within the sector.
The Hartford Foundation for Public Giving is the community foundation for Hartford and 28 surrounding towns. Through partnerships, the Foundation seeks to strengthen communities in Greater Hartford by putting philanthropy in action to dismantle structural racism and achieve equity in social and economic mobility. Made possible by the gifts of generous individuals, families and organizations, the Foundation has awarded grants of more than $1 billion since its founding in 1925. For more information, visit www.hfpg.org or call 860-548-1888.