Western Massachusetts
06-01-2006, 03:25 PM
Greetings colleagues!
We recently reviewed the purpose statement in our Articles of Organization and find that having changed a great deal in sixteen years, including fine tuning our mission statement, that our organization needs a new purpose statement.
Our original justification for our 501 © 3 status was that that we worked with and supported CDCs whose mission is to work with low-moderate income people.* Our strategy was to provide an educational support component to CDCs and to their business clients, complementing our lending program which in and of itself would not justify non-profit status.
Today, we have a much wider array of partners and we target clients that are low income. Either are borrowers are low-income people or people who employ a substantial number of low-income people, often located in low income census tracts. Many of our projects also have positive environmental impact or reduce blight and substantial other community benefits. We are working with our attorney changing the purpose statement.* He has asked me to see what other “purposes” are being used in other CDFI’s Articles of Organization.*
If you have the time to send your articles or any advice it would be greatly appreciated.
*
Many thanks!
*
*- Chris Sikes --
Christopher Sikes
Executive Director
Western Massachusetts Enterprise Fund, Inc.
P.O. Box 1077
Greenfield MA 01302
Voice 413 774-4033
Fax 413 774-3673
www.wmef.org (http://www.wmef.org)
csikes@wmef.org (csikes@wmef.org)
working to strengthen communities by creating economic
opportunities for low- and moderate-income people in western and
central Massachusetts
This post transferred from the cdb-l mailing list
We recently reviewed the purpose statement in our Articles of Organization and find that having changed a great deal in sixteen years, including fine tuning our mission statement, that our organization needs a new purpose statement.
Our original justification for our 501 © 3 status was that that we worked with and supported CDCs whose mission is to work with low-moderate income people.* Our strategy was to provide an educational support component to CDCs and to their business clients, complementing our lending program which in and of itself would not justify non-profit status.
Today, we have a much wider array of partners and we target clients that are low income. Either are borrowers are low-income people or people who employ a substantial number of low-income people, often located in low income census tracts. Many of our projects also have positive environmental impact or reduce blight and substantial other community benefits. We are working with our attorney changing the purpose statement.* He has asked me to see what other “purposes” are being used in other CDFI’s Articles of Organization.*
If you have the time to send your articles or any advice it would be greatly appreciated.
*
Many thanks!
*
*- Chris Sikes --
Christopher Sikes
Executive Director
Western Massachusetts Enterprise Fund, Inc.
P.O. Box 1077
Greenfield MA 01302
Voice 413 774-4033
Fax 413 774-3673
www.wmef.org (http://www.wmef.org)
csikes@wmef.org (csikes@wmef.org)
working to strengthen communities by creating economic
opportunities for low- and moderate-income people in western and
central Massachusetts
This post transferred from the cdb-l mailing list