Several Hartford-area nonprofits are set to receive tens of thousands of dollars in matching funds to help support their missions.
The Hartford Foundation for Public Giving recently launched the “social enterprise accelerator” in partnership with No Margin, No Mission, a national consulting firm dedicated to helping nonprofits, according to the foundation. The funds help nonprofits with their mission impact and entrepreneurial capacity.
“In June, the foundation announced a matching challenge: 100% of every dollar of startup or growth capital raised by the four nonprofits in the current cohort (up to $30,000 per organization) would be matched by the foundation. The four organizations raised sufficient dollars by the deadline to make them eligible for more than $101,000 in matching grants from the foundation,” according to the nonprofit.
Each organization held a “fast pitch” session where it presented its business plans to current and potential donors and made a direct ask for financial support toward startup capital needs. The matching challenge officially ended in October, according to the foundation.
“The enthusiasm and effort that area nonprofit organizations have brought to the ‘Social Enterprise Accelerator’ program has exceeded our expectations,” said Meher Shulman, associate director of the Hartford Foundation’s Nonprofit Support Program. “While the creative ideas these organizations have been building are truly exciting, we are 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.”
The four nonprofit organizations include Charter Oak Cultural Center, Ebony Horsewomen, Journey Home and Our Piece of the Pie, officials said.
Charter Oak Cultural Center raised $71,000, including $30,000 in Hartford Foundation matching funds, to support Bien Venue rentals in the building’s sanctuary, galleries, classrooms and other spaces. Bookings will be enhanced with arts and cultural programs, workshops and community engagement activities, according to officials.
Ebony Horsewomen raised $23,000, including $11,531 in Hartford Foundation matching funds, to support Black Boots Venue Rentals, at the Mary Fields Museum, Conference Center and Tent Pavilion. Events will be enhanced with optional equine experiences, including horseback riding, hayrides, sleigh rides and more.
Journey Home raised $114,000, including $30,000 in Hartford Foundation matching funds, to support Home for Good. The nonprofit will operate a thrift store offering high-quality, gently-used household items and furniture at deeply discounted prices.
Our Piece of the Pie raised $63,500, including $30,000 in Hartford Foundation matching funds, to support its mission to serve area youth through providing social service professionals and providers through comprehensive training and development programs.
Stephen Underwood can be reached at sunderwood@courant.com.