The Friendship Centers is participating in The Patterson Foundation’s Margin & Mission Ignition initiative to embed earned-income strategies for long-term mission impact
SARASOTA, Fla. (Oct. 14, 2015 ) The Friendship Centers has received a match challenge from The Patterson Foundation to jumpstart its efforts to implement the Friendship Center for Aging Studies, a new earned income program that will provide accredited continuing education training to professionals with a focus on issues, challenges and solutions specific to an aging population. The income generated will accelerate the Friendship Centers’ mission. The Patterson Foundation will match dollar for dollar up to 50 percent of contributions made to the organization’s earned-income startup costs through the end of the year.
The plan was developed during the Friendship Centers’ participation in Margin & Mission Ignition, an initiative of The Patterson Foundation focused on embedding earned-income strategies and long-term, thrive-able financial models within nonprofits in our region. The Friendship Centers is one of six organizations taking part in the 18-month process analyzing leadership, willingness, readiness, capacity and culture.
Since July, the organization has received extensive consultation on entrepreneurial revenue-generating strategies from No Margin, No Mission, a social enterprise and national consulting firm engaged by The Patterson Foundation to partner on this initiative.
“The Friendship Center for Aging Studies will build upon 42 years of experiential history of the Friendship Centers. This new source of revenue will grow our core mission work well into the future – more meals served, more patient visits, more caregiver support, and more hope for our senior population,” said Friendship Center Senior Vice President Erin McLeod. “Thanks to The Patterson Foundation and the consultants from No Margin-No Mission, we have spent the last several months researching and planning for this new business adventure. We want to make the most of the generous offer of match funding from The Patterson Foundation, and find those special donor-investors who will leverage their gift dollar for dollar, up to $53,000.”
The new initiative will target healthcare and other related professions from around the country that have required continuing education for re-licensure. They additionally are seeing the explosion of the senior population within their practices and businesses. The Friendship Center for Aging Studies will provide fully accredited training for professionals through the aging lens, tapping industry experts who will present course topics with a focus on aging issues.
The organization shared its earned-income plan before potential donor-investors during a recent fast-pitch-style event presented by The Patterson Foundation. The Patterson Foundation will have invested $500,000 total in the Margin & Mission Ignition initiative since its inception once the matches are disbursed to the six participating organizations. Additionally, the foundation will assist all Margin & Mission Ignition organizations as they implement the plans in 2016 by providing access to additional consulting and technical assistance from No Margin, No Mission.
“The plans developed by each organization come after months of rigorous discernment to adopt earned-income strategies that align with their mission, capacity and culture," said Debra Jacobs, president and CEO of The Patterson Foundation. "Potential mission investors can double their impact with this match.”
Visit thepattersonfoundation.org to learn more about The Patterson Foundation’s Margin & Mission Ignition initiative or join the conversation using #TPFMarginMission on social media.
About Margin & Mission Ignition
An initiative of The Patterson Foundation, Margin & Mission Ignition is an opportunity for local nonprofits in our region to develop and implement earned-income strategies to enhance mission impact. For more information about The Patterson Foundation’s Margin & Mission Ignition initiative, please visit thepattersonfoundation.org or join the conversation using #TPFMarginMission on social media.