This entry is in response to an op ed piece by Nicholas D. Kristof in The New York Times on December 24, 2008: The Sin in Doing Good Deeds
A new concept in business is the Triple Bottom Line: Profit, People, and the Planet. By paying attention to all of these elements, we create more responsible corporations, and in turn, a more responsible society. Just as businesses are expanding their outlook from merely profit to include social and environmental responsibility, it is time that we allowed nonprofits to expand their focus as well to incorporate a bit of the profit motive.
Earned income ventures is the name that nonprofits are giving to their business pursuits, allowing them to derive revenue from sources other than purely altruistic donations. This trend is on the rise and is here to stay, so let’s embrace it and allow nonprofits to take advantage of the market forces that have rewarded those in the private sector.
WAKE UP CALL: To what extent does your nonprofit take advantage of market forces to achieve its mission?
