Originally published in the Monadnock Shopper News (MBL Media Sponsor)
In the Monadnock Region, we are fortunate to have a number of large companies giving generously to the “small guy” and our community. What we don’t always notice is that the reverse is true as well. Our community has many small businesses and nonprofits offering services that enable both large & small businesses and our community to thrive.
In past articles, we featured how independent businesses support nonprofits. We’re flipping that around in this article, focusing on how nonprofits support for-profit businesses and our local economy.
“Nonprofits are businesses that have been granted a special tax status by the IRS because they provide a public benefit and their profits support their mission,” shares Mary Ann Kristiansen Executive Director of the Hannah Grimes Center. “They provide jobs, require a solid business model, purchase goods, rent and own property and provide good and services. They provide vital support and direct contributions to a thriving local economy and vibrant community.”

In New Hampshire, nonprofits contribute $9.1 billion dollars to the state’s economy, equaling 15% of our GDP. Nonprofits also provide one out of seven jobs in our state. And, given our lean government, New Hampshire residents rely more heavily on nonprofits to provide the services that they need. {View more about nonprofits in New Hampshire.}
Businesses also rely on the nonprofit sector for services. Specifically, they look to nonprofits to help improve their financial, environmental and social bottom lines. In the Monadnock Region, one example of a nonprofit working to strengthen for-profit businesses is the Hannah Grimes Center in Keene. Hannah Grimes offers a broad range of programs, from its Business Incubator Program to its lunchtime workshops, to start, grow and connect businesses.
One locally-owned business owner who receives direct support from the Hannah Grimes Center is local architect and Monadnock Buy Local (MBL) Member Michael Petrovick. He is an associate of the Hannah Grimes Business Incubator, a business growth program that includes office space. “I can’t say enough about how important a role Hannah Grimes Center and the events hosted here have played in the immediate growth of my business,” says Mike. “I’ve gotten two new projects and some great opportunities for future work. The time I’ve invested in attending Hannah Grimes events has clearly been time well spent.” Learn more at http://www.hannahgrimes.com.
Southwestern Community Services (SCS) serves as our second example of how one nonprofit supports a for-profit business. SCS implemented a payroll deduction program, helping their employees become founding member-owners of the Monadnock Community Market Co-op, a cooperatively-owned food store opening in downtown Keene. This program made it possible for 31 SCS Staff Members to join the MCM Co-op, for a total investment of $6,800.
On a nationwide scale, Monadnock Buy Local gets guidance and inspiration from two nonprofits: the Business Alliance for Local Living Economy (BALLE) and the American Independent Business Alliance (AMIBA). Both organizations offer resources, trainings and networking opportunities for independent business networks like MBL. Here’s a flavor of their offerings: Last month, AMIBA hosted the “Building Prosperity from Within” Conference in Louisville, KY where attendees shared successes and best practices with each other. This month, BALLE offered a webinar called “Financing our Foodshed” that shared models of peer-to-peer local investing opportunities to connect local investors with local businesses. Learn more about AMIBA at www.amiba.net and BALLE at www.livingeconomies.org.
Are you involved with a nonprofit that supports for-profit businesses, or do you own of a locally-owned business that benefits from the work of nonprofits? Please share your story with Monadnock Buy Local: monadnockbuylocal@gmail.com.
Monadnock Buy Local is near the end of its 2012 Membership Drive. Locally-owned businesses & nonprofits are invited to join before May 1, 2012 to be included in the 2012 Monadnock Buy Local Guide. Details are at http://monadnocklocal.org/join-us.