As government funding for nonprofits is reduced and competition for limited funding increases, organizations are being pushed to become more self-sufficient and sustainable
According to the B.C. Centre for Social Enterprise, “social enterprise” applies an entrepreneurial approach to addressing social issues and creating positive community change. In its most narrow definition, it means non-profits acting entrepreneurially and earning some of their revenues through selling goods and services instead of relying solely on grant writing and donations. In its broader sense – the definition that the Centre embraces – social enterprise involves the business sector in mentoring or investing in social enterprise, or moving beyond corporate social responsibility to start its own social enterprises. [source: B.C. Centre for Social Enterprise]
Interest in social entrepreneurship has grown over the last several years, both internationally and in Canada, and new expectations have emerged on the part of interested consumers and investors for products, services and financial returns that are twinned with social impact. It is increasingly recognized that multi-sector collaboration, social entrepreneurship, and impact investment (or social finance) are valuable tools for more effectively and efficiently addressing social challenges. [source: Mobilizing Private Capital for Public Good: Priorities for Canada, opens to PDF]
Fernwood NRG social enterprise entering tenth year
Fernwood NRG is a social enterprising non-profit organization run by and for the residents of Fernwood, a neighbourhood in Victoria, BC. Since 1979, the non-profit organization has provided child care and family programs, as well as offered recreational activities through the Fernwood Community Centre.
In August 2005, the organization purchased the Cornerstone Building, and fourteen months later, opened the Cornerstone Apartments, which provides affordable housing to four families. Soon after, the group opened Cornerstone Cafe, described as “Fernwood’s living room”. In 2008, Fernwood NRG built a beautiful house on Yukon Street, the Park Place Apartments, creating affordable housing for six more families. The group also publishes a community newspaper and organizes two annual neighbourhood festivals.
The organization’s board of directors is working now on creating a strategic plan which will identify key opportunities for the Fernwood and Fernwood NRG over the coming years.
Fernwood NRG executive director to headline Nanaimo conference
Startup Nanaimo will kick off a one-day conference called Profit for Non-Profit unConference on Sunday March 29, 2015, on the Nanaimo campus of Vancouver Island University. The conference will bring together bright minds from Nanaimo-area social enterprises and nonprofits to discuss, influence, and inspire revenue generation capacity in the city.
Lee Herrin, executive director at Fernwood NRG, will be the featured guest speaker as he shares the story and lessons learned during the time his organization made the shift to being enterprising over ten years ago. Lee will give a keynote at the beginning of the unConference. Participants will then choose to go into different sessions based on their need. Sessions may include strategic fund development, profit generation structures, role of boards, relationship to government funding, etc.
Profit for Non-Profit unConference will be held on Sunday, March 29th from 11:00 am to 3:00 pm at Vancouver Island University (Nanaimo campus), Building 250, Rooms 125, 140. The fee is $49 for early registration and $69 regular. Register online here.
We speak with Kelsey Wolff, the Startup Nanaimo lead.
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Kelsey Wolff moved to Nanaimo in September 2012 to pursue her MBA from Vancouver Island University and Masters in the Science of International Business from the University of Hertfordshire. She has a passion for community building and helping the City of Nanaimo progress as a Startup Community. Kelsey was a finalist for the Top 20 Under 40 Business Achievement Awards for 2013 and a co-founder of Ignite Nanaimo.
video and tweets
audio: Social enterprise wave creates interest in #Nanaimo, nonprofits invited @StartupNanaimo http://t.co/70jt5UlIuw pic.twitter.com/rYdcURm0Mc
— People First Radio (@peoplefirstrad) March 13, 2015
