Some charities would benefit by becoming social enterprises to lure investors rather than relying on philanthropy, several experts said during a conference at New York University, says Reuters.
Private capital is needed “to achieve meaningful moving of the dial” in tackling social problems, said Marc Lane, founder of Lane Wealth Group and one of several speakers from the financial and nonprofit worlds in a forum Wednesday at the university's Heyman Center for Philanthropy.
Jane Slusser of Catchafire, a fee-charging service that matches professionals with volunteer opportunities, said the pressure of constant fund raising can cause nonprofit groups to lose sight of their real missions.
But Naomi Levine, head of the Heyman Center, said traditional fund raising still had a place for charities and that American business “has not exactly been the kind of model I would place on a pedestal.”
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