Industries Inc. Story - Nonprofits Assistance Fund
Industries Inc, a nonprofit in Mora, MN helps adults with developmental disabilities find employment. For over a year, they had been contemplating opening a thrift store. This social enterprise became a critical component for the organization’s financial security and strategic plans. They had already crunched their numbers, completed area research, and created a business plan, but needed an extra push to move forward.
Kris McNally, Co-Executive Director at Industries Inc. called Nonprofits Assistance Fund in November 2012 after hearing about their financial advice services from a fellow nonprofit executive. NAF reviewed their numbers and business plan, reassuring them that a thrift store was the right decision. They returned to NAF in January 2013 for a loan to help them buy a storefront for their thrift store. GoodWorks Thrift Store opened on June 19, 2013. In just three months, the store has provided employment to 70 clients, a 33-50% increase than projected. The community response has been overwhelmingly positive, and now the thrift store serves as a common space within the community; a place where people with disabilities can work and interact with the public on a daily basis.
“I called [NAF] and talked about our thrift store idea to see if this is the right fit for us. We had been crunching numbers for a year. Steve came and looked at our business plan and said, ‘Absolutely do this.’ That was exactly what we needed. Without him, without NAF, without that push, we would probably still be sitting here waiting to do it.”
– Kris McNally, Co-Executive Director at Industries, Inc.
NAF’s - Programmatic Impact Loans: In fiscal year 2013, we made loans totaling over $10 million. Financial Advice In FY 2013: We delivered 1,932 hours of financial technical assistance to 558 nonpropfit organizations. We had 136 Open Office Hours appointments for Minnesota nonprofit staff to ask specific financial questions. Training Last fiscal year: We trained 2,302 nonprofit leaders through regularly scheduled financial management workshops and webinars. Resources: Our articles and tools have been featured in industry publications and used by other capacity building organizations across the country.