New Jersey Economic Development Authority
Earning income from a commercial venture can be as challenging for nonprofit organizations as raising funds from private sources. To succeed, nonprofits need to be in the right place at the right time with the right idea and resources.
The Entrepreneurial Training Institute (ETI) has teamed with Englewood-based New Capital Consulting, in partnership with the United Ways of New Jersey, the United Jewish Communities and the Center for Nonprofits, to offer free workshops that will provide a comprehensive overview of the resources available to help nonprofit organizations assess earned-income ventures as a means of boosting their revenues and furthering their missions.
The innovative ETI program supports state initiatives to foster the growth of small businesses, particularly woman-owned and minority-owned enterprises. It is sponsored by the New Jersey Economic Development Authority (EDA) and the New Jersey Development Authority for Small Businesses, Minorities? and Women?s Enterprises (NJDA). In addition to a general business curriculum offered at several locations throughout the state, specialized instruction is currently available in Trenton and Wayne for nonprofit representatives.
Upcoming workshops will run from 9:30 a.m. to 12:30 p.m. and will be held on:
· Wednesday, April 19, at EDA Offices, 36 W. State St., Trenton
· Tuesday, April 25, at South Jersey Industries, 1 South Jersey Plaza, Folsom
· Friday, May 5, at the Technology Centre of New Jersey, 675 Route 1, North Brunswick
“Nonprofit organizations today are more challenged than ever to raise funds that support their programs and operations,” said Marion Zajac, program manager for the Entrepreneurial Training Institute (ETI). “Many of them are turning to this concept of social entrepreneurship to reduce their reliance on grant funding and become more self-sufficient. Our workshops have been designed for organizations considering, starting or currently operating an earned-income venture. The responses we have received to earlier workshops on the topic have been overwhelmingly positive.”
The Social Entrepreneurship Workshop provides a thorough introduction to new revenue opportunities for nonprofits, said Arthur Sandman, associate executive vice president of program services for the United Jewish Communities of MetroWest NJ, based in Whippany.
“It challenged us to think about the role that entrepreneurial ventures can play in solidifying the financial base of our organizations and furthering our mission objectives. It directed us toward the resources that can help us develop enterprises, and gave us a tangible roadmap to next steps,” he said. “I have heard other presentations on social entrepreneurship. This one was simply better than all I have attended.”
New Capital Consulting conducted the workshop with a solid understanding of the issues facing nonprofits, Sandman said. New Capital Consulting is a management consulting firm specializing in new business development, strategic planning and organizational capacity-building for social entrepreneurs and changemakers in the nonprofit sector.
For more information on the workshops or to register, call (609) 292-9279 or visit www.njeda.com/eti.
The EDA provides financing and technical support to encourage business and job growth in New Jersey. The NJDA offers financing, technical assistance, training and mentoring programs to small businesses, especially woman-owned and minority-owned enterprises. Primary sponsors of the ETI Program are Bank of America, Merrill Lynch, PNC Bank and the Wachovia Foundation.
Location: South Jersey Industries, 1 South Jersey Plaza, Folsom
Contact: 609-292-9279 |
