Initiative 4 – 501(c)(3) Consolidation Support
Alone we can do so little; together we can do so much!
Note: To be considered, a proposal for Initiative 4 requires one lead organization and at least one or more partnering organizations to provide a viable proposal.
Envisioned Goal: Trinity seeks joint proposals from two or more small 501(c)(3) organizations in our region that are considering structurally merging to sustain their mission and operations. Phase I funds would be designated for the discussion/development of a “Merger Letter of Intent” and plan between the organizations with a financial estimate of items needed to consummate the merger. In Phase II, Trinity would provide the needed funds for due diligence, legal, accounting, board transition, etc., and support as determined by the Phase I plan to facilitate operational mergers intended to create stronger, sustainable entities. Trinity is not a consulting or legal service provider, but will provide funds for organizations to obtain needed merger services.
Background: The last year has posed extreme challenges for small businesses of all kinds across the nation. Some of those small businesses are nonprofits that serve key roles in our community. The purpose of this initiative is to encourage like organizations to explore and consummate mergers resulting in viable organizations moving forward.
Examples of Specific Initiatives:
Hypothetically, there may be two compatible small 501(c)(3) organizations with similar missions, an overlap of services, and agreeable leadership. This initiative seeks to bring these organizations together to determine the viability of merger and create/execute merger plans if warranted. Successful Phase I proposals must be CO-SUBMITTED by at least two 501(c)(3) organizations located within the geographic service area of THFET.