So I have spoken a lot about mergers…you know where I stand!
The Lodestar Foundation is funding a competition called The Collaboration Challenge.
[They are] awarding $250,000 to the collaboration (two or more nonprofits) that present the most compelling evidence as to how business was streamlined, a cause advanced or a group’s quality of life was improved by virtue of the collaboration.
The money will be split between the organizations involved in the collaboration. 30 semi-finalists have been selected from a pool of over 644 U.S.-based nominations.
An analysis of the top 176 qualifying collaborations demonstrates that:
- Most were formed to maximize funds and/or improve services
- 40% of collaborations were administrative consolidations
- 35% of collaborations were joint programs
- 25% of collaborations were mergers
- Most mergers were recent (18 months to 3 years old)
- Most were in the areas of health (25%) and community development and housing (12%).
- 72% were local in nature
Lodestar will announce the winner on March 5, 2009