Tuesday, June 16, 2009

Turning Nonprofits into For-Profits - BusinessWeek

Turning Nonprofits into For-Profits - BusinessWeek: "The nonprofit Bikestation reached a crossroads in late 2007. Founded in Long Beach, Calif., in 1996 to design, build, and manage bike transit centers, the 10-employee organization couldn't handle all the calls coming in on its $300,000 budget, funded mostly through earned income. With little grant funding available, the board determined that the best way to meet demand was to raise money from private investors­—which meant turning Bikestation into a for-profit social venture. 'We just didn't have the resources to expand the mission and the vision further,' says AndrĂ©a White-Kjoss, who joined the nonprofit as CEO in 2004."

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