NHPF-Authored Articles & Industry Reports

Entrepreneur, April 20, 2018 Want to Parlay Your Passion Without Losing a Paycheck? Think About Running a Not-for-Profit (continued)

2. Get immersed in the industry you’re entering. Whether founding a nonprofit or considering joining one, get educated about the various options where talented people can find rewarding careers. Start by volunteering, to get a hands-on experience. But also read books and articles by experts in the field, particularly those on aspects of social impact investment. Sign up for industry trade subscriptions (many are free for a trial period), and set up Google Alerts to stay on top of daily industry news. 3. Network with others in the field. Look for contacts on LinkedIn and other sites to reach out to and chat with, as well as relevant group discussions to join. Do research online or among trade publications to find topical webinars, local events or professional seminars to attend, in order to mingle with like-minded individuals. Find ways to discuss career opportunities with management people in nonprofits whose missions interest you. 4. Appreciate the mission and the steps it will take to accomplish it. Correcting societal ills or achieving specific outcomes by working collaboratively can make for an extremely rewarding career, but these missions require long-term thinking and strategy. Embrace the process and be part of the team that creates a plan, with benchmarks and course-corrections when necessary, to help the organization advance. 5. Become an evangelist for your cause. Passion ignites more passion. Once you’ve embarked on the path toward “socialpreneurism,” share it with the world. Post to social sites, pen articles, offer to speak at gatherings. “Mission” has its own rewards. Reach out to acquaintances and strangers alike to interest them in your cause. You never know what doors you might open.

percent. Said Sherratt: “We are particularly proud that Back on My Feet has gone from early-stage startup to sustainable organization and is now a leader in the workforce development and homelessness services space nationwide.” Bill Henson After a successful 32-year investment banking career, Bill Henson, a decade ago, made the transition to inner city education, initially joining the board of Cristo Rey New York High School, a private Catholic college preparatory high school that educates children of all faiths. For the last seven years he has served full-time as president of Cristo Rey Brooklyn HS, which educates minority students, mostly immigrants or first-generation Americans of modest means. Although all families contribute something to the cost of their child’s education, the school ‘s innovative Corporate Work Study Program covers most of it. All students work one day per week in real jobs at companies like American Express and JPMorgan Chase, with their earnings going to the school. Henson told me he fell in love with the Cristo Rey mission and model “of a hand up, not a handout.” He said he knew he could translate his corporate experience and connections to provide tangible benefits to his young beneficiaries. The proof is in the results: Cristo Ray kids from low-income neighborhoods like East New York, Brownsville, Crown Heights, East Flatbush and the South Bronx are attending college at Princeton, Duke, Cornell, Georgetown and other prestigious institutions. Is the nonprofit world right for you? There are as many paths to passion and profitability as there are professions. But I believe that there are some simple things to know whether as a socialpreneur you could help make a positive change: 1. Decide whether you have the passion for a nonprofit organizations. While their salaries and bonuses have to be competitive to get the talent they need, these operations typically run differently. There are rules of governance for a nonprofit or not-for-profit (there are small legal differences, but the terms can be used interchangeably) that are different from those of a for-profit company; someone new to these enterprises will have to get to know them.


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