The social enterprise movement, which began in earnest in the early 1980’s, has evolved and expanded significantly in recent years. Whether defined as applying business- and market-based approaches to solving social problems, or pursuing earned revenue strategies to achieve a double- or triple- (financial, social, and sustainable) bottom line, innovators and entrepreneurs from both the business and nonprofit sectors are blurring the traditional lines between them, creating nonprofit, for-profit, and hybrid vehicles to house and grow their social enterprises, and challenging their legal advisors to use or change the existing legal framework to meet their needs. Meanwhile, many grant makers have become increasingly focused on identifying and funding social innovators and social entrepreneurs.
This letter could be important in the event that a Model C fiscal sponsor disburses grant funds for the benefit of a grantee, not by cash grants to the grantee, but by writing checks directly to the grantee’s vendors.
Short form of Fiscal Sponsorship Grant Agreement between a fiscal sponsor and a Model C fiscally sponsored project.
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