We have become increasingly aware of the interconnected nature of the problems we face as a society. Questions about gender, racial, and social equality can no longer be separated from the climate crisis, nor can the advancement of AI and biotechnology be isolated from global political instability. As we move forward to tackle these complex problems, we are fortunately starting to see new groundbreaking developments of non-profit and for-profit hybrid structures creating an intersection between business and philanthropy to play a significant role in addressing critical social issues.
Social enterprises or impact-driven businesses, operate not only to generate profit but also to make a positive impact on society and the environment. These models leverage the innovation and efficiency of business practices while prioritizing social and environmental responsibility. They aim to address systemic issues like inequality, climate change, and technological advancement while ensuring sustainable and ethical solutions. By intertwining profit motives with social missions, they attract investment and mobilize resources toward creating meaningful change.
The synergy between profit and purpose isn't just a trend; it's a paradigm shift in how we approach problem-solving. By aligning financial success with social impact, these hybrid models are proving that business can be a force for good.
JSC Impact recently sat down with our partner Allen Bromberger, Founding Partner of Bromberger Law, to talk about “Hybrid Structures: How Nonprofits and For-Profits Can Work Together.”
Allen, author of The Art of Social Enterprise, through his 35 years of legal practice has been at the forefront of the growing socially responsible business and the impact investing movements. He is nationally recognized for his in-depth work on the rise of the social enterprise and nonprofit and for-profit legal structures that support the simultaneous pursuit of financial and social goals.
Listen to our exclusive interview with Allen Bromberger (below) to see how this emerging framework of Hybrid Structures is creating a unique pathway for collaboration that moves beyond traditional approaches to facilitate complex, systems-level change.