SeaChange Capital Partners Announces the Launch of NYMAC, the New York Merger, Acquisition, and Collaboration Fund
NEW YORK, Feb. 28, 2012 /PRNewswire/ -- SeaChange Capital Partners announced today the launch of the New York Merger, Acquisition, and Collaboration Fund, a new initiative to encourage and enable mergers, acquisitions, and other types of formal, long-term collaborations between nonprofit organizations working in New York City. NYMAC will 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. The official launch date for NYMAC is March 2012.
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.
NYMAC brings together a unique cross section of individuals and institutions, including The Altman Foundation, The Clark Foundation, The Heckscher Foundation for Children, The Lodestar Foundation, The Robert K. Steel Family Foundation, and SeaChange Capital Partners, who have provided the initial resources to support the first few years of activity. Doug Bauer, executive director of The Clark Foundation said, "As one of the major funders of capacity building and management training in New York City, we are proud to be an investor in NYMAC. We look forward to seeing it play a major role in assisting nonprofits in making wise choices about their future and the future of those they serve."
NYMAC is organized by SeaChange Capital Partners, a nonprofit organization with deep experience as a funder of nonprofit collaborations on a national basis.
More information is available at www.nymac.org.
SOURCE SeaChange Capital Partners
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