MANATEE, Fla. (Nov. 27, 2018) – The Patterson Foundation will match startup capital investments to Manatee County Habitat for Humanity ReStore for the implementation of its new earned-income plan. Through Margin & Mission Ignition, Manatee County Habitat for Humanity has developed an entrepreneurial plan to strengthen its mission impact in the region. Donations and investments contributed to Manatee County Habitat for Humanity will be matched dollar for dollar by The Patterson Foundation up to 50 percent of its startup capital requirement – up to $50,000 maximum – through Feb. 15, 2019.
The staff and select board members of Manatee Habitat developed the earned-income plan through its participation in Margin & Mission Ignition, an initiative of The Patterson Foundation for nonprofits that strengthens their mission impact through exploring, developing and executing entrepreneurial principles. Nonprofits are selected to participate in Margin & Mission Ignition through a months-long application period before entering a 30-month planning and implementation process. Manatee County Habitat for Humanity is one of five nonprofits receiving consultation on strategies to increase revenue from No Margin, No Mission, a social enterprise and national consulting firm engaged by The Patterson Foundation.
“I was thrilled to learn on top of all the coaching we have received through the Margin & Mission Ignition Initiative, The Patterson Foundation is providing a match to double the impact of the donations received to implement our new business plan at our ReStore thrift store,” said Diana Shoemaker, Executive Director of Manatee County Habitat for Humanity. “We will use the funds raised to invest in our ReStore operation to increase income and expand our mission to build more sustainable, affordable homes.”
The goal of the 3-year business is to strategically increase the ReStore income sufficiently to build five additional homes over three years. Manatee County Habitat for Humanity is looking to raise $130,000 in growth capital. The funds will be used to create sustainable growth through improved marketing and branding, outreach to new target markets, billboard and radio advertising, logistics and point of purchase software, and equipment. The organization recently opened a new 33,000 sq. ft. ReStore in central Bradenton and is well positioned to implement the new plan. The need for affordable housing for working families in Manatee County is great and increasing the ReStore revenue is essential to the ability to serve more families.
During a recent fast-pitch-style event presented by The Patterson Foundation, Manatee County Habitat for Humanity shared its earned-income plan with potential investors. In addition to the match, The Patterson Foundation is investing $25,000 in Manatee County Habitat for Humanity to help it develop earned-income strategies.
“Through Margin & Mission Ignition, these organizations have embarked on a journey toward greater thrivability, which will ultimately boost their community impact,” said Debra Jacobs, president and CEO of The Patterson Foundation. “The Patterson Foundation’s dollar for dollar match affirms the merits of the mission-aligned business plans.”
Visit thepattersonfoundation.org to learn more about The Patterson Foundation’s Margin & Mission Ignition initiative or join the conversation using #TPFMarginMission on social media.