Yesterday’s post hinted at a way nonprofits might identify entrepreneurs open to the idea of cause marketing. Today I want to suggest what a entrepreneur might look for in a cause partner. There are at least 1.5 million 501(c)(3)s nonprofits in the United States. The term 501(c)(3) means that they can offer tax deductibility to their donors. Of those, less than 160,000 take in $1 million or more in revenue. A little more than half of that 1.5 million take in $100,000 or less. Yesterday I mentioned that according to Census figures there are some 6 million firms in the United States with employees. In other words, there are a couple of businesses for every nonprofit charity. Yet, despite that fact, to a cause looking for money businesses are like the pretty girl at the party. And if you’re a business with a charitable inclination you’re like Sofia Vergara pretty! So how do you decide from among the suitors? One option, of course, is that you don’t decide. That is, that you have relation...
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