I’m pleased to write with news of significant developments at American Nonprofits. As many of you know, our organization was established in 2012 with the broad mission to develop programs for supporting the rapidly evolving finance and capitalization needs of the nonprofit sector.
Concurrent with the research around a credit union model, NIAC began a pilot program lending amounts of $50,000 or less to nonprofits on an unsecured basis. Marc Rand, a consultant and American Nonprofits board member is overseeing that project. The intention is to demonstrate the need and potential business model feasibility of an unsecured capital lending to the charitable sector. This demonstration pilot has achieved some early successes and may prove to be a viable alternative to the more capital-intensive credit union approach.
The retreat resulted in a newly refined mission, vision, and set of potential programs. While we will be issuing a more detailed release about the retreat outcomes, we can confirm several decisions. We plan to continue and develop the loan fund project in some form, transferring its activities formally from NIAC to American Nonprofits. We also affirmed the great value of Blue Avocado as a voice in the charitable sector, and committed to working to increase its publication, readership, and revenue generation capacity, so that it can be more sustainable in the long term.