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News & Press: Business Courier

Initiative to help seven nonprofits grow

Thursday, November 20, 2008  
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Community Wealth Ventures Inc. has launched the Greater Cincinnati/Northern Kentucky Community Wealth Collaborative.

The collaborative is a 10-month project to help nonprofits increase mission impact and financial self-sufficiency through business ventures called social enterprises.

Community Wealth Ventures has eight years of experience starting such programs in cities across the country, including Dallas, Baltimore and Boston. The collaborative also is in its third year in Cleveland.

The collaborative is funded by: Greater Cincinnati Foundation; Carol Ann and Ralph V. Haile, Jr./US Bank Foundation; Macy’s; Manuel D. & Rhoda Mayerson Foundation; Ohio Valley Foundation; Fifth Third Bank; and an anonymous foundation. It will help a select group of high-performing nonprofits complete a business plan and launch or grow a viable business. The nonprofits then can use the revenue generated by those businesses to reduce dependency on funders and expand services.
 

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