Catalyst Fund Report: Advice to Strengthen Nonprofit Mergers and Collaborations
BOSTON May 17, 2016—The Catalyst Fund for Nonprofits was created to demonstrate how strategic mergers and collaborations can help nonprofits pursue their missions. The Fund's new report, Advice to Strengthen Strategic Mergers and Collaborations, captures knowledge and experience gained from five years of work with more than 80 Boston-area nonprofits. The free, online resource includes "four truths of nonprofit collaborations" as well as step-by-step guidance for nonprofits, and reflections from funders on support for this work.
The Catalyst Fund’s primary goals were to give nonprofits dedicated resources for exploring strategic partnerships and to challenge misconceptions about mergers as a sign of fiscal distress. The Fund was itself a collaboration of The Boston Foundation, LISC Boston, The Hyams Foundation, The Kresge Foundation and United Way of Massachusetts Bay and Merrimack Valley, managed by Nonprofit Finance Fund. Catalyst Fund grant awards resulted in 20 collaborative ventures, including 13 mergers. An additional six ventures are still in exploratory phases.
"Mergers and collaborations can pool resources and capabilities to help organizations with shared interests make bigger strides against social problems," said Peter Kramer, Associate Director of NFF and lead author of the report. "Catalyst Fund participants have improved services for Boston’s homeless population, expanded arts education, supported the financial well-being of low-income communities, and more."
The report is being released in advance of a launch event in Boston where a panel of Catalyst Fund participants will share their experiences.
"Mergers are not quick fixes or financial lifelines," said Jennifer Aronson, on behalf of the Catalyst funders. Aronson is Interim Vice President for Program at The Boston Foundation. "Overwhelming day-to-day demands coupled with limited time and money have contributed to a relative lack of strategic collaborations in the nonprofit sector. We hope that the Catalyst Fund has helped to build field knowledge and demonstrate how dedicated funds and expert support can result in compelling partnerships."
For more information, please contact Peter Kramer at [email protected]