By: Sherri Welch, Crains
DETROIT - Five Detroit nonprofits will get a chance to compete for part of $150,000 in pro bono consulting services during an elevator pitch competition at the Gem Theatre Wednesday.
The style of the competition, which is hosted by Detroit-based JFM Consulting Group, will mirror the approach of for-profit funding competitions like ABC’s “Shark Tank” and Goldman Sachs’s 10,000 Small Businesses program, a spokeswoman said.
It is part of JFM’s new Impact Squared program which aims to help build nonprofits’ capacity and further increase their impact, while providing a vehicle for engaging local businesses and entrepreneurs in supporting Detroit’s nonprofit community.
The friendly story-telling contest is also a way to help bring awareness to the broader community about the ongoing contributions of the nonprofits, said JFM President Jane Fran Morgan, in a release.
Each finalist will have five minutes to share the impact its organization is having. The finalists are: Alternatives for Girls, Focus: HOPE, Midnight Golf, Society for Reinstitutionalization of Storytelling and Southwest Detroit Community Justice Center.
Ten small businesses have signed on to provide the three winners of the contest with pro bono services in areas including: strategic planning, graphic design, marketing and branding, financial management and evaluation.
A panel of judges and audience members will pick the three winners.
Judges for the contest are: Donna Murray-Brown, President, Michigan Nonprofit Association;Ray Waters, president, Detroit Development Fund; Pam Lewis, executive director, New Economy Initiative; and Rainy Hamilton Jr., principal, Hamilton Anderson Associates.
JFM’s inaugural “Story Slam” is set for Wednesday from 6-8 p.m at the Gem Theatre in Detroit. The event is free and open to the public, but seating is limited, and registration is required.