Member Moment: Emancipet Leading Nonprofits Beyond the Grant
Nonprofit leaders and Social Venture Partners gathered for Mission Capital’s first ever Member Spotlight. The goal for the evening was to learn about the work of Emancipet, one of Austin’s nonprofits featured in Mission Capital’s latest research brief, Beyond the Grant. Amy Mills, CEO of Emancipet, spoke to a room of nonprofit leaders interested in learning more about how the organization’s programs are funded using traditional and innovative nonprofit financing strategies, in light of Mission Capital’s research.
Scaling Their Vision
Emancipet is on a mission is to provide affordable and accessible veterinary care to all pet owners. Neighborhoods with low discretionary incomes don’t have the access to local veterinary clinics or the ability to pay for expensive services provided by doctors. Although Emancipet originally envisioned picking a community and building out their infrastructure, they found that they had better momentum when communities pulled them in.
They credit the PET Project strategy, and initiative to expand their New School Program and add new clinics, as enabling them to succeed. Along with expanding clinic locations, Emancipet experiments with centralizing wraparound services to support new initiatives while maintaining a high standard of quality and care.
“It’s allowed us to take advantage of opportunities that have come up – sometimes it’s been multiple clinics in one city, new locations completely or mergers and acquisitions with other organizations who want to do what we’re doing.” - Amy Mills, Emancipet CEO
Exploring New Funding Strategies
Emancipet also utilized a unique funding strategy for launching a new clinic after they were turned down by traditional lenders. When multiple banks told them there was no mechanism for loaning to nonprofits, Mills started researching alternative fundraising strategies and found out about PRIs – program related investments. Mills worked with a familiar funder, ASPCA, who was also interested in exploring alternative fundraising sources. ASPCA used Emancipet as one of their first alternative financing loan recipients.
“It was amazing. In one minute, we had the money to buy the equipment. That clinic was successful pretty fast, and we beat the revenue goals we thought we were going to have. It went quickly, seamlessly and efficiently. If we’d had to fundraise for that, it would’ve taken years .” – Amy Mills, Emancipet CEO
Finding the Right Balance
Mills still believes in a balance between philanthropy and alternative financing options. While philanthropy can build commitment to an organization’s work, she notes there’s a cost with raising money, “I love philanthropy, especially when it comes from individuals and local family foundations. I think it builds this commitment to the organization’s work, and it builds a movement. I would never abandon philanthropy because it’s absolutely critical. But I had to realize there’s a cost with raising money.” She adds, “There’s a time when philanthropy is the right thing, and a time when it’s not the only thing. You have to get out of your own head to realize that something else might be better.”
Emancipet’s expansion included their first clinic outside of Texas this year, and community-responsive initiatives like offering free veterinary care to pet owners impacted by Hurricane Harvey.
Interested in exploring alternative funding for your organization? Download Beyond the Grant to learn more about how organizations in Central Texas are expanding their impact through these new options.