Business plan competition top grant winner to be announced
Monday, April 27, 2009
For immediate release – 4/27/09
Contact: Pam Clark-Reidenbach, NICNE – 815-226-2833
Three area nonprofit agencies—The Arc, Midway Village & Museum Center, and Family Counseling Services—are finalists in the annual Business Plan Competition sponsored by the Northern Illinois Center for Nonprofit Excellence (NICNE) at Rockford College. The winner will be announced at a special presentation May 14, 10 a.m. at the Community Foundation of Northern Illinois, 946 N. Second St., Rockford.
Now in its third year, the competition requires that agencies develop earned income business strategies based on core competencies and apply good business practices to generate revenue. In so doing, they then have more discretionary funds available to fulfill their social mission. The top agency picked will receive $10,000 to implement its plan.
Planning for the competition actually began last fall, and consisted of three rounds of business plan development and refinement. It’s a process that enhances the participating nonprofits on several levels.
“The competition provides education, technical assistance, and resources for nonprofit organizations that are ready to develop an earned income strategy,” says Pam Clark-Reidenbach, NICNE’s director. “This in turn, will help them strengthen their agency’s financial stability, sharpen organization focus, and expand and generate new sources of revenue.”
Winners are selected by the NICNE Review Team comprised of recognized community leaders with business development and nonprofit experience. Previous top honors have gone to RAMP for its Soundscapes project and Womanspace for its Gallery2GO program.
NICNE helps build capacity among nonprofit organizations to reach their highest levels of service and management excellence by providing information, education, consultation, and resource support. The competition is funded with the help of the Community Foundation of Northern Illinois.
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