Worcester Business Journal

wbjournal.com | September 19, 2022 | Worcester Business Journal 9 Cohen said, rely on grant funding as a major source of revenue. GWCF itself gives out grants to local organizations. While grants can be a great source of revenue, they can be a bit fickle, he said, depending on where they come from: Government grants, for example, can easily be eliminated from a state budget. e needs of different organizations are going to depend on their growth, he said. For example, during the COVID pandemic, GWCF was introduced to several organizations it had never worked with before. "ey were managing with a circle of donations or revenue. But costs go up, you aspire to deliver more services, and if you're involved in work that can cost money, you need more money," he said. "It starts with what you need, then it's about what you aspire to need, and then what you can afford." Local examples One example of a nonprofit in Worcester grown greatly in the past few years is African Community Education, also known as ACE. e organization, which provides aer-school education and social services to African immigrants, is expanding into a former charter school site at 51 Gage St. with the help of funds from a private donor. at contribution allowed ACE to pay the $1.8-million price for the building with cash, said Kaska Yawo, ACE executive director and co-founder. ACE's revenue in fiscal year 2021 exceeded $1.6 million, according to its annual report, a massive increase over its revenue of $618,787 in fiscal 2020. Yawo said the new building and donations are going to allow his nonprofit to expand its services to the local African community significantly. e Worcester nonprofit Seven Hills Foundation, which provides support to people with disabilities and significant life challenges, actually owns an architectural firm that President David Jordan said helps fund Seven Hills programs. e nonprofit, which is the largest in Central Massachusetts, reported total assets of more than $262 million in 2021. Abby's House, a shelter, housing, and advocacy organization for women and children in Worcester, is a bit smaller in scale, Executive Director Stephanie Page said. e organization has a budget of $2.7 million. Abby's House's biggest source of financial support is individual donations, Page said. ose account for 33% of revenue. Its other top sources are foundation gis and grants (16%), fundraising events (11%), donated volunteer services (7%), rents from its 79 affordable housing units for those in its program (7%), corporate, religious, and civic donations (6%), and 13% from its thri shop, a common mechanism used by nonprofits to generate income. e organization doesn't rely on any grant funding, Page said, which she said allows Abby's House to make decisions independently and outside of specific grant guidelines. Abby's House is in the process of working towards building an endowment. Every year, Abby's House has a 5K run in October, which will be both in-person and virtual, and its annual Spring-Tacular celebration in May. Every donation – from large recurring gis to one-time contributions from individuals to in-kind offerings of things like food or laundry detergent – is essential to the function of Abby's House, Page said. "We recognize that there will be donors who might not be able to give as they really want to give as their costs increase, but I also know people will do what they can do," she said. "We always remain grateful for what people can do. We try to remain flexible and nimble and be able to use resources in the very best ways possible for the mission." Jonathan Cohen, VP of Greater Worcester Community Foundation Stephanie Page, executive director of Abby's House The biggest source of funding for Abby's House is individual donations, followed by foundation gifts and grants. Nonprofit thrift shops serve the dual purpose of generating revenue for the human services mission while often providing discount clothing and other goods to the local population. W

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