PART III: APPENDICES

Appendix A
Writing Credits

s is true of all efforts of this size, this book is the end product of many months and many hands. The material presented herein is the result of three levels of labor: writing, editing, and critiquing. With one exception, all included material went through numerous rewrites by Jed Emerson and Fay Twersky. As the senior coordinator of this project, Jed Emerson takes full responsibility for material presented in this book, statements made, and any mistakes or unintentional misrepresentations which may be discovered after publication. In addition to the work of the two content editors, Lydia Ely contributed significantly as copy editor for the entire document and also provided content feedback as appropriate. The writing process which resulted in this book took several forms. First, in some cases, grantees wrote an initial report presenting their perspective on their work. This report was then reviewed by the staff of Harder+Company Community Research, who wrote their own evaluations based upon the submission of grantees, their independent review of the written record, and, in some instances, interviews with key

staff, program participants, or board members. Second, specific individuals were approached with requests to write chapters from their perspective. Those individuals are identified below. Third, the director of the HEDF took this opportunity to write a number of chapters to reflect on his learnings over the past years. His work was then critiqued by experts in the field, who are credited below. If we accidentally did not include your name in the following credits, please call Jed to receive your immediate and heartfelt apology. This has been a long six months... We would like to take this opportunity to thank all those who supported this effort over the months it took to complete. First, we would like to especially thank the program participants and enterprise employees who have made these businesses the successes we feel they are. Second, we would thank the many grantees who agreed to honestly discuss their experiences with us and openly reflect upon the challenges weve confronted. In addition to the writers identified below, each of the folks who provided feedback and comments were invaluable to the creation of what we feel is a pretty good document. We thank you all!

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We would also like to express our appreciation to the staff of Pacific Foundation Services and Harder+Company Community Research. We are grateful for the patience and support of each of you.

Homeless Garden Projects: JED EMERSON, Critique by: Fay Twersky, Agency Program Staff The Numbers: True Cost Accounting: A Financial Analysis of the Non-Profit Enterprise Experience: JED EMERSON; Critiqued by: Catherine Connolly (Independent Consultant), Cynthia Gair (Keystone Community Ventures); Phil Perry (Professor of Finance, St. Marys College); Robert Sher (Associate Professor of Small Business Development, St. Marys College), Joel Ficks (Small Business Consultant), Jill Storey (Keystone Community Ventures). A Cost-Benefit Analysis of Enterprise Creation Funding: Net Present Value and Projected Returns: TOM FOSTER (CALResearch), IRAJ IMAM (CALResearch); Critique by: Jed Emerson.

Specific Credits:
EXECUTIVE SUMMARY:
JED EMERSON. Critique by: Vickie Grove,
Lydia Ely, Fay Twersky.

Part One: The Organizations and Lessons Learned Case Statements: Studies: Rubicon Programs, Larkin Business Ventures, Oak Street House, Central City Hospitality House, Youth Industry/Healing Kidz: FAY TWERSKY; Critique by: Jed Emerson, Agency Program Staff, Lydia Ely. Summaries: Asian Neighborhood Design, Berkeley Oakland Support Services, Community Housing Partnership, Conard House, Career Choice Project, Keystone Community Ventures, Manos, InnVision, San Francisco Network Ministries, Santa Clara Unified School District South Of Market Foundation, Women and Their Children Project, Project WATCH, Oakland Workers Cooperative Painting Project: JENNIFER EICHMAN (Harder+Company Community Research), JED EMERSON, FAY TWERSKY; Critique by: Agency Program Staff. San Mateo Emergency Shelter Network: CHRIS SUTHERLAND, Peninsula Community Foundation. San Francisco Coalition on Homelessness, Berkeley Ecumenical Chaplaincy to the Homeless, The Story Of Three Vineyards: Part Two: Perspectives On The Practice Of Non-Profit Enterprise The Employee Perspective: Employee focus group facilitator and chapter author: ANNE MURRAY (Harder+Company Community Research); Critique by: Fay Twersky, Jed Emerson The Board of Directors Perspective: JED EMERSON, based on interviews and material submissions by Penelope Douglass (immediate past chairperson, Larkin Business Ventures) and DIANE FLANNERY (CEO, Larkin Business Ventures); Critique by: Vickie Grove, Lydia Ely. The Funders Perspective: JED EMERSON; Critique by: Alvertha Penny (Hewlett Foundation), Carol Guyer (James C. Penny Foundation). Legal Considerations of Non-Profit Enterprise Development: Brad Caftel, Attorney (National Economic Development and Law Center, Oakland, CA). The Non-Profit Franchise: The Ben & Jerrys Partnershop: CHARLES MULLEN; Critique by: Jed Emerson, Vickie Grove, Diane Flannery. The Competitive (Dis)Advantage of Non-Profit

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Enterprise: JED EMERSON; Critique by: Fay Twersky Grants, Debt, and Equity: The Non-Profit Capital Market and Its Malcontents: JED EMERSON; Critique by: Dan Leibsohn (National LowIncome Housing Fund), Paul Sussman (Northern California Community Loan Fund), Cynthia Gair (Keystone Community Ventures); Alan Fisher (Community Reinvestment Committee), Wendy Fleischer (Corporation for Supportive Housing), Jill Storey (Keystone Community Ventures).

Alan Fisher, and Paul Sussman. Considerations for Individual Development: Report by Staff of Asian Neighborhood Design. Self-Employment and Very Low-Income Women:

FAY TWERSKY; Critique by: Jed Emerson,

Agency Program Staff. Issues Concerning the Evaluation of Non-Profit Enterprise: FAY TWERSKY; Critique by: Jed Emerson. Conclusion: Cross-Cutting Issues for the Field of Non-Profit Enterprise: JED EMERSON and FAY TWERSKY; Critique by Vickie Grove, Lydia Ely.

The Positioning of Non-Profit Enterprise in the Global Economy: Understanding the World, the Region, and the Prospects for Non-Profit Enterprise in the New Century: JED EMERSON; Critique by: Jim Fawley (Associate Professor, St. Marys College), Ed Skloot (Executive Director, Surdna Foundation), Carol Guyer (James C. Penny Foundation), Eric Hanson (Associate Professor, St. Marys College). Writings From Japan, Canada and New Zealand:

Part Three: Appendices Appendix A: Writing Credits Appendix B: Recommended Readings and Resources: JED EMERSON Appendix C: Recommended Listenings: Sole responsibility of JED... Appendix D: Jed Lettermans Top Ten List: Final Last Words of Failed Social Entrepreneurs: GUESS

NAOKI MORIKAWA, PAUL BORN, WARREN SNOW; Critique by Jed Emerson, Lydia Ely.
Understanding the for Organizational Development of Non-Profit Enterprise: JED EMERSON; Critique by: Vickie Grove, Lydia Ely, Fay Twersky,

APPENDICES 3 409

Appendix B
Recommended Readings and Resources
wide variety of resources are available to the social entrepreneur in search of information. The following are some of our favorites. If you have all these, you are pretty much set. If a book or resource has been particularly helpful to you, please notify our office so we might share it with others!

Ed Skloot, THE NON-PROFIT ENTREPRENEUR (New York: Foundation Center, 1987). This is still the bible for the field. In a relatively brief number of pages, Skloot presents information on legal concerns, organizational development, and a number of other issues of interest to the social entrepreneur. A great overview document for the reader who wants to know it all in as little time as possible. Michael Sherraden, ASSETS AND THE POOR: A NEW AMERICAN WELFARE POLICY (Amonk, NY: M.E. Sharpe,

Inc., 1991). Welfare as asset accumulation. An excellent and challenging evaluation of current welfare policy which moves the debate away from disbursement and toward development. Sherraden also discusses Individual Development Accounts, which hold great promise for the future of wealth accumulation on the part of low-income people. All in all, a great and provocative read. National Economic Development and Law Center, TAKING THE ENTERPRENEURIAL APPROACH: VOLUMES

I-III (Oakland, CA). One of the most comprehensive collections of articles and resources available. Each volume addresses another step in the process of non-profit enterprise creation. While some of the articles could be updated, the fundamentals presented in this collection are critical for those interested in an indepth discussion regarding a wide array of issues. A solid addition to your library and useful resource. (At a collective width of nearly three inches, it is not a good stocking stuffer, however!) (510-251-2600)

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Martin Fridson, FINANCIAL STATEMENT ANALYSIS: A PRACTITIONERS GUIDE (New York: John Wiley & Sons, 1991). Killer guide to tearing up financials. Teaches you where people hide bad numbers and how to find them. Good to know, fun to use. You should probably not approach this book until after you have developed some basic accounting and financial analysis skills, but dont wait too long. You should know your numbers better than your accountant does! David Hammack, Dennis Young, Eds., NON-PROFIT ORGANIZATIONS IN A MARKET ECONOMY: UNDERSTANDING NEW ROLES, ISSUES AND TRENDS (San Francisco: Jossey-Bass Publishers, 1993). Its a new world, and youd better know where you fit in! This book is a blast, covering a lot of ground and introducing a number of issues. Each chapter stands alone, so you dont have read it all at one sitting. Tons of fun. Leonard Fuld, THE NEW COMPETITOR INTELLIGENCE: THE COMPLETE RESOURCE FOR FINDING, ANALYZING AND USING INFORMATION ABOUT YOUR COMPETITORS (New York: John Wiley & Sons, 1995). Ethical but aggressive guidance for doing just what it says. Many non-profit managers are great at researching public policy or social issues, but cant find their way out of a stack of books in the reference section of the business library. This book is all you need to research the industry youre interested in entering by gathering information on a lead player you may wish to emulate. Michael Thomsett, THE LITTLE BLACK BOOK OF BUSINESS MATH (New York: American Management Association, 1988). For those of us who flunked high school algebra and have always hated numbers. If youre going to run a business you have to

internalize the mantra, Numbers are our friends. This book is a concise, easy guide to learning what you should have known years ago. Its petite size makes it easy to stick into your briefcase for quick consultations prior to those meetings with bankers... Jae Shim and Joel Siegel, THE VESTPOCKET CFO (Englewood Cliffs, NJ: Prentice Hall Books, 1992). For where the Little Black Book drops off. The Vest-Pocket CFO will actually not fit in your vest, but is excellent. Explains ratios, break-evens, and more financial analysis tools/issues then you will probably ever use. Bob Stone, SUCCESSFUL DIRECT MARKETING METHODS (Lincolnwood, Illinois: NTC Business Books, 1995). A GREAT reference book for the small business person sans marketing department. Focused, well-researched advice to get the most out of your marketing efforts. Robert Hisrich and Michael Peters, ENTREPRENEURSHIP: STARTING, DEVELOPING AND MANAGING A NEW ENTERPRISE (Chicago: Irwin Press, 1995). A more in-depth look at virtually every aspect of entrepreneurship. In this good counterpart to the outline planning guides presented below, Hisrich and Peters take the reader through the history, idea, planning, financing, and virtually every other aspect of the emerging enterprise. Mike McKeever, HOW TO WRITE A BUSINESS PLAN (Berkeley, CA: Nolo Press, 1992). A friendly, informative, and very useful business planning guide. Excellent for folks with little business development background. Nolo Press publishes some of the best business and legal self-help material in the country. Their catalogue includes many dynamite offerings. (510-549-1976)

Keith Schilit, THE ENTREPRENEURS GUIDE TO PREPARING A WINNING BUSINESS PLAN AND RAISING VENTURE CAPITAL (Englewood Cliffs, NJ: Prentice Hall, 1990). An excellent, concise guide that takes the reader through a step-by-step process of writing a business plan. BIZPLAN BUILDER (Mountain View, CA: JIAN Tools, 1995). Living by the motto, To do great important tasks, two things are necessary... a plan and not quite enough time, BizPlan provides you with a set of template electronic word processing and spreadsheet files. This computerized business planning resource asks you questions; as you answer them, your business plan almost writes itself. You still need to have the information, but BizPlan is a good resource for those unsure of how to begin or in need of someone to ask the right questions. (415254-5600) THE NON-PROFIT RESOURCE CENTER (7731 Belle Point Drive, Greenbelt, MD, 20770, (301)507-6247). The Resource Center provides one, two and three-day trainings for nonprofit managers and accountants regarding the ins and outs of unrelated business income tax, IRS regulations, and general non-profit tax reporting. Non-profits entering the enterprise development arena should seriously consider charging one key board member and one staff person with the responsibility for tracking all tax and regulatory issues for the organization. The Resource Center workshops and materials provide the best orientation to these topics I have seen in terms the average CFO or Treasurer will immediately grasp and be able to use. The Center also provides direct tax consultation with nonprofits in addition to several publications and newsletters.

APPENDICES 3 411

THE NATIONAL ECONOMIC DEVELOPMENT AND LAW CENTER (Oakland, CA, (510) 251-2600). The NEDLC serves as a national clearinghouse on community economic development. In addition to an excellent resource library, the Center offers legal consulting to non-profits involved in community development, manages a sectoral analysis project, and sponsors a regional economic development initiative, among other activities. THE NATIONAL CENTER FOR SOCIAL ENTREPRENEURSHIP, (Southgate Office Plaza, Suite 975, 50001 W. 80th St.,

Minneapolis, MN, 55437, (617)8315506. Jerr Boschee, President and CEO.) An excellent organization providing workshops and consultation for the emerging entrepreneur. Good for groups at the front-end of the process and in need of a general overview. Definitely worth a call to get their resource listing and see if theyre doing anything in a town near you! Two additional resource books which will be helpful to the nonprofit enterprise manager come from the practice of economic development in the Third World. AN

INSTITUTIONAL GUIDE FOR ENTERPRISE DEVELOPMENT ORGANIZATIONS provides practitioners with an excellent overview of organizational development stages, such as strategic planning or self-evaluation, and is presented in an easy to follow format. MONITORING AND EVALUATING SMALL BUSINESS PROJECTS: A STEP BY STEP GUIDE FOR PRIVATE DEVELOPMENT ORGANIZATIONS is a second publication covering the fundamentals of small business evaluation. Very good stuff. Both can be ordered through PACT, 777 United Nations Plaza, New York, NY, 10017.

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IMPACT ONLINE
t seems as if every day one hears about yet one more home page or Internet service which might be worth surfing to. Not surprisingly, a variety of efforts are underway to tap this resource to the benefit of nonprofits in general and non-profit entrepreneurs in particular. While excellent resources are available at some sites, these offerings require users to access information through fairly expensive on-line providers. However, other sources are increasingly available to those surfing the free resources of the Net.

ing. IO makes this knowledge available to non-profit managers through workshops, an on-line course for nonprofits, lectures at conferences nationwide, and Web development services specifically aimed at meeting the needs of non-profits. The Impact Online Web site is located at http://www.impactonline.org and, with 25,000 hits representing some 2,000 visitors daily, is thought to be one of the highest volume non-profit Web sites currently operating. Beyond the offerings of Impact Online, a wide array of non-profit and small business resources may be found on the Internet. The Enterprise Foundation and others are taking the lead to establish electronic libraries from which practitioners may download files on a variety of issues. The Small Business Administration and Department of Commerce both offer a wide range of information and resources. For practitioners located within the state of California, a potentially valuable on-line resource worth exploring is TeamCalifornia Online (800-55-CAL35). Once you have received the free software and registered, TCO provides access to economic development libraries, files and on-line conferences with professionals, economic development corporations, educational institutions, and others involved in the field. This is a completely free service sponsored by Southern California Edison Company and definitely worth checking out for news, ideas and professional support. The cost of on-line service is decreasing with each passing day, and there is little to stop the inquisitive entrepreneur from surfing her way to greater knowledge and information. If you are not on-line and you are interested enough to be reading this book, you should consider getting wired today!

Founded in 1995, Impact Onlines (IO) mission is to use the Internet to reach and support individuals who want to make a difference in their communities. In operation only one year, IO has received significant recognition for its work, including The Point Communications award as one of the top five percent sites on the Internet, the Whats Cool listing at Netscape, the Tripod Tools for Life Award, and Best Site of the Week Award at America Online. Impact Online encourages its surfers to volunteer, make donations, and make socially responsible product purchases. Their goal is achieved through publishing information about social issues and non-profit organizations on the Impact Online World Wide Web site. Of greatest interest to social entrepreneurs is IOs Web page promoting homeless economic development organizations. In addition to current offerings, it is planned that by late 1996, copies of this report will also be available at the Impact Online Web site: http://www.impactonline.org.hedf/. Impact Online attempts to serve the non-profit community by acting as a resource for reliable and comprehensive information. IO has done extensive work analyzing strategies for electronic community outreach and has explored innovative methods of on-line fundrais-

APPENDICES 3 413

Appendix C
Recommended Listenings
hile it is widely known that our office receives a good number of calls from non-profit managers in search of information and resources to assist them in operating social purpose businesses, a lesser known fact is that we also receive a number of inquiries regarding what music is the most appropriate soundtrack to support the dialogue of the New Social Entrepreneurs.

Many practitioners recognize that while some sort of musical accompaniment is called for, the music of the sixties is boring and the mainstream music of the seventies

and beyond seems simply a misguided effort to communicate the meaningful degree of angst and rage suitable for the dawn of a new breed of mutant manager living in the constant tension of a non-profit/for-profit world. To do our part to assure every New Social Entrepreneur has at least the basics of a decent CD library for the new century, our office humbly offers the following collection of must have items for any truly engaged, emerging New Social Entrepreneur. These recordings are provided to you, the reader, in no particular order, at no extra charge, and with only a modicum of humor, since we take our tunes extremely seriously:

Anything by Fugazi, but especially In On The Kill Taker or Steady Diet of Nothing. Bleach, by Nirvana. If you own the Nirvana, MTVUnplugged CD, please discard it immediately. Anything by Husker Du. Our token representative from the eighties, Husker Du laid much of the foundation for the alternative scene which was to spring forth in later years. Doo Bop, by Miles Davis. Miles meets Hip Hop. How can you go wrong? Viva Zapata, Seven Year Bitch. Riot Grrl music at its best. Odelay, Beck. White Boy Rap for Punks. 414
3

Anything by The Pixies, but we especially like Bossanova and Come On Pilgrim. Dear You, by Jawbreaker, an SF favoritegreat live... Demo Tape, Baby Snufkin, Bay Areas best World-Beat Punk music...David Byrne meets Iggy Pop... Meantime, by Helmet. Serious headbanging music for when you arent sure if your motivation is monetarily or socially based... Roots, by Sepultura. South American Heavy Metal meets indigenous Brazilians... Anything by The Melvins, but we especially recommend

Houdini and Stoner Witch. Easter, by Patti Smith. The seventies memories come flooding back. A gesture to the past... Salt Peter, by Ruby. When you finish your business plan and are ready to dance... Dry, by PJ Harvey. All her material is great, but the first time out was especially fun. Foo Fighters, Daves life after Nirvana...
Dilate, by Ani DiFranco. Folk-punk for the nineties...one of the best CDs of the year...

Remember: If its too loud, youre too old! (and, of course, were all getting older...).

THE ROBERTS FOUNDATION: A PROGRESS REPORT

Appendix D
Jed Lettermans Top Ten List: FAMOUS LAST WORDS OF FAILED SOCIAL ENTREPRENEURS

10. After the Sizzler folks moved out, we thought it was a perfect opportunity to start a community restaurant. (If a site is churning, dont start the same business as others who have failed, betting that since youre a nonprofit you can do it for less. They couldnt and you wont. There are REASONS businesses in your neighborhoods have failed. Usually its location, location, locationand the fact that it was the WRONG BUSINESS! In the case of Larkin Business Ventures, it took over 11 months of searching before an appropriate site was found. If you are dead set on a previously identified location, consider ventures which move product out of the neighborhood in exchange for capital which is brought into your neighborhood.)

will need a staff person who is charged with giving this project the highest priority. Give yourself adequate time to establish a venture committee, design a common time frame, agree on measurable goals, and make an organizational commitment to the process. Once the doors are open you cant return to a planning mode. The greatest luxury you have is the period before you launch your venture when you can analyze your organization, prepare the board/staff/clients, decide on an enterprise, raise as much of the money as you think you will need, and then add more time and money to your planning budget. Adequate planning dollars alone will not make the difference, but will provide you with the cushion you need to plan your attack).

8. But there was such a NEED for an organic produce grocery... 9. $5,000 should have been plenty of money for our planning process! (There are certainly those businesses which have been developed on the backs of envelopes, and others which were started on a few hundred dollars. Yours will not be one of them! Converting a non-profit social service organization into a social entrepreneur organization involves time, which means money. You can do a great deal with volunteers and program participants, but you (Non-profits are developed to identify and respond to SOCIAL NEED, not MARKET DEMAND. Be sure you are clear on the difference. The fact that a neighborhood may need quality organic produce is one thing; whether or not community residents can afford to pay for organic produce is another. Do significant market and pricing research to know who your customers are and what their ability to pay is. Build from there in order to assess your ideas viability.)

APPENDICES 3 415

7. Our goal was clear: Create meaningful employment; provide $10 an hour wages; generate $500,000 a year for our agency; engage in environmentally friendly commerce; provide personal growth opportunities for our employees; be somewhere for neighborhood kids to go after school... (As you go through the process of a start-up, understand one thing: you are not going to end poverty in America, you are not going to create a cash cow, and you are probably not going to be able to create a utopian work environment. If you are lucky and the business gods smile upon you, you will manage to stay in business, provide decent transitional work opportunities for folks you care about, and hopefully not take more than three years of subsidy from your parent organization. Maintain your focus: Your first goal must be to identify a demand in the marketplace and provide the highest quality service or product to your consumer at the most competitive price you can. PERIOD. The rest is icing on the cake and will come only when you achieve the first goal of profitability.)

4. Were losing our federal grant...wed better start a business soon! (The goal of starting a business should be consistent with your mission. While anticipation of future cutbacks may be a motivation to re-assess your organizations place in the community, creating a business is not the first appropriate response to impending funding cutbacks and will almost always create more problems than it will solve. First revisit your mission, evaluate your values, and then conclude whether or not a venture is consistent with who you are as an entity. DO IT FOR THE RIGHT REASONS! NOT BECAUSE YOU GOT A BUSINESS PLANNING GRANT OR BECAUSE YOURE LOSING A PROGRAM GRANT! While necessity may be the mother of invention, successful enterprises evolve 75% out of passion, and 25% out of desperation.)

3. If we only had more money, we would have done a better job... (Mainstream businesses are usually said to fail for two reasons: lack of management expertise and lack of capital. Social Entrepreneurs fail for one reason: lack of management expertise. The Homeless Economic Development Fund came in under budget each of its first three years because the director could not find organizations he felt had the capacity to successfully execute enterprise development. Most non-profits have a poor grasp of financial accounting, dont understand the markets they are entering, misread their consumers, havent anticipated staff/board opposition to the idea of creating a business, and on and on. Do your homework! Develop your capacity first, create the business idea second and the money will follow).

6. We have such a great causehow could they NOT buy from us? (The fact that you employ formerly homeless/lowincome folks is a DISINCENTIVE in the marketplace! In our evaluations of consumer satisfaction, the fact that ventures were operated by a non-profit employing formerly homeless people came in fourth, fifth, or sixth as an issue of concern. Primary consumer issues related to quality, the demand for the product or service, and price. Often, the fact that you are a non-profit doing good will go against you and be something you will have to overcome in your relationships with the business community. And, finally, most formerly homeless people do not appreciate being used as marketing vehicles. The people you most care about will probably not want you to mention their past difficulties at all in your marketing and promotional materials. Dont use the crutch of being a non-profit to try and win a foot race.)

2. But they SAID they would pay us by the end of the month! (Also known as: May I have a bite of your sandwich? Someone just ate my lunch... Non-profits think they know a great deal about competition for money, and as far as public funding goes, many have great skills. Private sector markets are another matter. Its a jungle out there. Businesses compete brutally, both with ethics and without, and they compete to win. Your customers are feeling the pinch in trying to find the absolute lowest price with the highest value. Your suppliers are feeling the pinch in moving inventory and balancing cashflow. Sitting between these two forces, you will feel the pinch, too. Realize it now and plan accordingly. Build in

5. Our board president always wanted us to open a Tshirt shop...nows our chance! (Again, be clear on your purpose: to stay in business and create jobs for your folks. There is no room for personal agendas or pet ideas. If the numbers in your assessment dont support the degree of risk, dont do it, regardless of emotional or political investment of board/staff or participants.)

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allowances for bad debt, missed projections, equipment breakdown and anything else you can think of which may affect your bottom line. Remember: If you slip, you will fall and if you fall, you will fail. Make strategic alliances which complement your weaknesses and anticipate the problems you will have, since you will have to deal with a

hundred problems you never thought of. Dont be taken down by the obvious problems you should be able to see from the starting line. Protect yourself and play to win.) And now....the Number One Famous Last Word of Failed Social Entrepreneurs:

1. But were a NON-PROFIT! Were not supposed to make money! (Social workers (and their sympathizers) are raised by experience and training to distrust money, business and capitalism. We develop a mind-set that views money as evil. Grow up. Money is valueless; Its what people do with money that counts. Your job is to get as much of it as you can so you can stay in business, hire people in need, pay a good wage, contribute funds to your program, and stabilize your community. Greed may not be good, but money is. After all, there is no glamour in poverty. Go out there and get your piece of the pie and then feed it to the masses. If you arent comfortable with that idea, dont start playing the game. Or else you will find your last words on this list!)

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CAPITALISM FOR A CAUSE.

THE HOMELESS ECONOMIC DEVELOPMENT FUND c/o The Roberts Foundation Box 29906 San Francisco, CA 94129-0906 (415) 561-6533
OR E-MAIL US AT

live4punk@aol.com jemerson@well.com