Welcome to the Fourth Sector.
Yes we know about the public sector (government), the private sector (businesses) and the social sector (non-profit/non-governmental organizations). And now a fourth sector is emerging from the space in between – the for-benefit sector. So what is it?
“Like non-profits, For-Benefits can organize in pursuit of a wide range of social missions. Like for-profits, For-Benefits can generate a broad range of beneficial products and services that improve quality of life for consumers, create jobs, and contribute to the economy. For-Benefits seek to maximize benefits to all stakeholders, and 100% of the economic ‘profits’ they generate are invested to advance social purposes.”
Interested? A network, with origins in North Carolina’s Research Triangle, is underway to support and enable the development of rising for-benefit organizations.
What are the offerings?
*Meshing organizational mandates with personal ethics and community interests.
*Establishing a supportive framework with common standards, legal and tax structures, services, reporting protocols and training.
*Connecting with stakeholders, collaborating, and catalyzing new ventures.
Filed under: Community, Social Entrepreneurship
