SeaChange Capital Partners has announced the launch of the New York Merger, Acquisition, and Collaboration Fund (NYMAC), a new initiative that encourages and enable mergers, acquisitions, and other types of formal, long-term collaborations between nonprofit organizations working in New York City. The goal of NYMAC is to provide vital support to a diverse set of nonprofit organizations as they navigate a very challenging operating environment, supporting leaders willing to make difficult mission-driven decisions, and encouraging innovation and best practices in the nonprofit sector.
NYMAC will support organizations that already have a serious interest either in coming together in some way, or in exploring how they might, and will make grants to help cover a portion of the one-time costs required to explore or complete the transaction. As a neutral, credible, and experienced outside party willing to invest time and money, NYMAC will work constructively and confidentially with the funders, boards, and leaders of the organizations considering a transaction as a catalyst for sensible action. In addition to making grants in support of particular transactions, NYMAC will work with foundations, government agencies, and umbrella groups to encourage New York’s nonprofits to more proactively explore the various ways in which they might collaborate with one another. The initial $1.2 million fund will finance approximately 10 to 15 collaborations. Learn more about the Fund at its new website.