SeaChange Capital Partners helping charities raise money

Charles T. Harris III and Robert K. Steel formed SeaChange Capital Partners to help charities raise money to help finance for expansion. Both men were former partners in Goldman Sachs and are now using Wall Street methods to raise money for their non-profit financing firm.

“Our goal is to create a nationwide donor network of wealthy individuals and family foundations that we can mobilize with other existing sources of funds to provide growth capital for entrepreneurial organizations.” - Charles T. Harris III

Mr. Harris and Mr. Steel have quite a battle ahead of them. Their idea to help charities raise money to finance expansion is great, but the odds are highly against them. Since 1970 more than 200,000 non-profit organizations have been establish and only 144 of those organizations had grown over $50 million in revenue by 2003. It seems like Harris and Steel know what they’re doing. They have the right connections and have the right mindset to create a successful business.

[via NYTimes]

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