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Turn a Profit

This competition for nonprofits encourages for-profit ideas.

This story appears in the June 2005 issue of Entrepreneur. Subscribe »

Can charity be profitable? Yes, when you're talking about the National Business Plan Competition for Nonprofit Organizations, held annually by the Yale School of Management-The Goldman Sachs Foundation Partnership on Nonprofit Ventures. The competition aims to encourage nonprofit organizations to create for-profit divisions or subsets of their organizations, providing the nonprofit entity with more funding sources.

Started in 2003, the competition has been well-received, attracting about 500 entrants annually, says co-deputy director Samantha Beinhacker. "Nonprofits have long done this type of earned-income activity," Beinhacker says. "The competition helps them put a structure behind it."

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