Social Entrepreneurship: Seminar

Summary

Today, at the anticipated seminar organized by the York Entrepreneurship Development Institute (YEDI), social entrepreneurship enthusiasts gathered to address various issues primarily revolving around the integration of social models into international markets. A robust discussion emerged on the legalities and financial intricacies of setting up not-for-profit organizations, especially when expanding into different international regions. Moreover, the seminar shed light on leveraging non-profit strategies to boost initial phases of business models, illustrated by numerous attendees' projects ranging from healthcare, food services, to real estate and art hubs. Key insights revolved around compliance, funding mechanisms, and community-centric solutions.

Highlights

• Exciting exploration into the cross-section of non-profit and for-profit models for easier business setup 🎉.
• Deep dive into legal varieties between Canadian and international charitable regulations 📄.
• Discussion on using local partnerships to foster growth and operational success in social enterprises 🤝.
• In-depth breakdown of funding strategies leveraging non-profit status 💰.
• Engaging dialogue on tailoring business models to fit social and cultural contexts globally 🌎.

Key Takeaways

• Non-profit structures can significantly aid in the startup phase of for-profit ventures by leveraging community and regulatory advantages 📈.
• International expansion requires understanding and adapting to legal frameworks specific to regional markets globally 🌍.
• Creative partnerships with local organizations can streamline operations and access to resources 🤝.
• Understanding and navigating the legal landscape of charitable organizations is crucial for compliance and strategic growth ⚖️.
• Attendees benefitted from shared experiences and diverse strategies to integrate social entrepreneurship practices within their own projects 🎓.

Overview

The seminar provided a lively platform for participants to exchange ideas and solutions regarding the integration of social and business initiatives. With a particular focus on international expansion, the attendees delved into the necessities and challenges that arise. Different projects such as healthcare training services and food distribution models explored how non-profit frameworks could lay a strong foundation for business development.

A significant portion of the seminar was dedicated to understanding the complex interaction between non-profit and for-profit setups. Participants learned about the potential to start businesses as non-profits to benefit from grants and other funding opportunities before transitioning into profit-driven models. This creative approach provides financial leverage, reducing the burden of initial capital expenditure.

In an inspiring session, various attendees presented their ideas, receiving constructive feedback. Projects ranged from an art café providing communal creative spaces to tech solutions for pharmacies in rural areas. The shared knowledge highlighted the importance of regulatory compliance, strategic partnerships, and community engagement in fostering successful social enterprises.

Chapters

• 00:00 - 00:30: Introduction to Seminar The chapter introduces the seminar session, emphasizing an open discussion format where different projects will be discussed. The speaker invites questions from participants before beginning the session.
• 00:30 - 03:00: Questions and Discussions on Social Models This chapter involves a discussion featuring different issues related to social models, particularly focusing on a question raised by Eric. Eric is curious about the connection between the current class and the international expansion class. His question highlights the challenge of adapting a social model, which is successful in Canada, to an international context, particularly in the context of finishing milestones for international expansion.
• 03:00 - 05:30: Establishing Charitable Organizations Internationally This chapter focuses on the intricacies of establishing charitable organizations on an international scale. It discusses the interplay of business models and social models when entering international markets. The chapter emphasizes that the approach varies greatly depending on the specific circumstances and the business environment of the target country, highlighting the complexity and the need for tailored strategies according to different international contexts.
• 05:30 - 10:00: Charitable Trusts vs. Charities The chapter discusses the process of registering charitable organizations in different types of markets, highlighting the differences between developed countries, like Canada and Europe, and less advantaged countries. In developed regions, one can register a not-for-profit or charitable organization, which may receive local support. However, in countries where people struggle to support themselves, different considerations might be necessary.
• 10:00 - 16:00: For-Profit and Non-Profit Structures The chapter discusses the differences between for-profit and non-profit organizational structures. It highlights the process of registering charitable organizations in various developed countries such as Canada and states in Europe. Additionally, it explains the mechanism of raising and transferring funds through entities like 'Friends of [Non-Profit Name]' to support non-profits.]
• 16:00 - 23:00: Structuring Non-Profits for Business Ventures The chapter discusses the legal considerations for Canadian non-profits and charitable organizations engaged in international activities. It highlights a key legal restriction: Canadian non-profits cannot simply transfer funds to foreign entities as it is illegal. Instead, these organizations must structure their ventures in compliance with both Canadian and international regulations. The chapter uses an example of a Kenyan project to illustrate the complexities and necessary trust involved when dealing with international collaborations.
• 23:00 - 34:30: Case Studies and Examples In this chapter, the discussion revolves around setting up and managing business operations across different countries. It highlights the process of establishing a branch in another country, including opening a bank account for that branch. The chapter explains the legal and operational steps needed to transfer funds from a domestic account (like from Canada) to the branch's account abroad. It emphasizes the importance of ensuring that business activities are conducted locally and in compliance with the host country's laws. The chapter underscores the necessity for businesses to actively engage in their foreign operations rather than just transferring money.
• 34:30 - 36:30: Break and Open Questions The chapter titled 'Break and Open Questions' discusses the challenges associated with operating international branches of organizations, specifically in the context of charitable foundations. It explains that one cannot simply send resources, such as donations, directly to an international branch without having an established presence or program there. Instead, organizations like Yeti set up their programs, instructors, and branches to deliver their services personally in different countries. The chapter hints at the logistical requirements and strategic approaches to successful international operations. It also mentions that these activities were a regular occurrence before the COVID-19 pandemic disrupted international travels and operations.
• 36:30 - 49:00: Starting and Managing Non-Profits The chapter discusses the initiation and management of non-profit organizations, emphasizing the importance of local presence and engagement. It highlights the necessity for non-profits to sometimes interact frequently with the community, akin to local businesses, to fulfill their mission and maintain operational branches locally. Additionally, it mentions oversight by the Canada Revenue Agency (CRA) to ensure non-profits are compliant in their tax-exempt activities.
• 49:00 - 68:30: Non-Profit and For-Profit Collaborations In this chapter, the discussion revolves around the complexities and challenges involved in managing accounts and activities related to collaborations between non-profit and for-profit entities. The conversation briefly touches on the difficulty of controlling accounts, especially when they are managed by someone else, highlighting concerns over accountability and management. Additionally, a question is raised regarding the difference between a charitable trust and a charity, indicating a focus on understanding the structural and legal distinctions between different forms of charitable organizations.
• 68:30 - 90:00: Legal and Tax Considerations The chapter discusses the concept of a charitable trust, explaining that there is no specific form for such a trust. It distinguishes between a trust and a charitable fund, noting that a charitable fund involves collecting money to distribute to other charities. The legal requirement is to spend more than half of the collected funds on other charities.
• 90:00 - 99:30: Conclusion and Future Sessions The chapter discusses the distinction between different types of charitable organizations. It highlights a particular type of charity that primarily collects money to distribute to other charities, as opposed to organizations that directly engage in charitable activities themselves. The conversation references the CRA (Canada Revenue Agency) website, where one can find information distinguishing between charitable funds and other types of charitable organizations.

Social Entrepreneurship: Seminar Transcription

• 00:00 - 00:30 as uh make sure people don't come um okay so today as uh as promised we'll have seminar so no much to say from my end we'll just uh discuss different projects all together um before we start do you guys have any questions basically uh we may discuss
• 00:30 - 01:00 different different issues as well not only the project but Any questions about anything eric okay yes so my question has to do with the connection between this class and the international expansion class that we're working on finishing our milestones for right now it's a question about when you have a social model that makes sense in the Canadian context but then you need that
• 01:00 - 01:30 model to make for the business it's a it's a combined business model but then how do you think about that in terms of going into an international market with a social model it is a huge question because it depends on the circumstance in the country that you're looking to go to and the business of course but just wondering if there's any kind of general thing that you can say about that it's a good question good answer
• 01:30 - 02:00 for that I believe so it depends it depends on the market that you're going so if it's uh it's it's developed country as Canada then uh you basically register a not for profofit organization or charitable organization there like for states for example Europe it's the same model you you register a charitable organization there and local people may contribute now if you go to a country where people cannot support themselves we which may be the case right so well
• 02:00 - 02:30 as people in developed countries then You may register in Canada and in other countries in the states in Europe you may register a charitable organization called friends of your uh not for profit right friends of this and that and this way hello and this way you you collect money but you transfer money there so you may raise money in Canada let's say but uh I don't know if you if
• 02:30 - 03:00 you do your stuff in Kenya for for example right uh like friends of your company in Kenya right and you collect money here and then you trust them by the way since you asked this question I think it's important to mention uh when you have Canadian charitable organization not for profofit organization and you want to do activities in other countries you cannot just transfer money to somebody there you cannot it's illegal in Canada
• 03:00 - 03:30 so you have to act yourself okay so you can create your branch in that country you can open the account of your branch in that country and then you may transfer money from your account in Canada to your account in that country and then from that country you may hire local companies or whatever and pay them money sure surely but it should be your activities there so you cannot say I like that I
• 03:30 - 04:00 don't know sick kids foundation in uh in Africa right and I uh send it to to them right no you cannot do that you have to to have your branch there like for example when Yeti goes to other countries we bring our programs we bring our instructors we bring our programs it's us delivering program there before co we traveled a lot almost definitely every year but
• 04:00 - 04:30 sometimes a few times a year right but it doesn't raise any questions because us going there now pretty often it's not the case you want local businesses to to do what you have to do right but it still have to be your branch there okay make sense understood yeah cra watches it you know very precisely because they don't want people to collect u you know tax except money here
• 04:30 - 05:00 and then send who knows who knows whom and they cannot control it because if it's your account then it's your it's your activities you report here right but if it's somebody else then you cannot control is there okay good anybody else any any questions what is between charitable trust and charity and say it again and then please move louder what is the difference between charitable trust and charity charitable
• 05:00 - 05:30 fund given charitable trust the there's no specific form of charity trust trust is a trust is a it's different entity but there's charitable fund and charity charitable funds I believe we discussed it last time is when you collect the money to distribute it to other charities so you collect the money and then uh you have to spend more than half of what you collected to other charities
• 05:30 - 06:00 basically you don't do things you just collect money and give to other charities you may also do your things as well uh but but your main idea is to collect money and give it to other charities versus a charity like Y is organization that actually doing things right so Y is a charity and um if you go to CRA website you can see uh on the page of our organization it says either charitable fund or
• 06:00 - 06:30 charity okay yeah anybody else question like can a holding company and a for-profit company uh have a structure with nonprofit or charity and like can the profits or like even though there are no shares for nonprofit or charity how would that structure look like in general so in most case again we discussed it last time right in most
• 06:30 - 07:00 cases you want the culting company to be a forprofit just because you you want to own it right so clothing company it's mostly real estate if you have real estate or if you have intellectual property or something of of that kind you want to own it so in most in most cases it goes to a forprofit holding company right and then not for profofit may operate it so the holding the forprofit holding company just gives a not for profofit to operate it and the
• 07:00 - 07:30 not for profofit you know pays back maybe covers the expenses this is exactly the structure of this building for example as I said we have a for-profit holding company uh which owns this building but who operates it we just pay um to compensate the expenses and is this structure which has to be created right from the beginning or is this something which can be done later on after creating a mount of course it can be done at any moment for example we re back in 2013 and we bought this
• 07:30 - 08:00 building i don't remember maybe a year and a half after that and then we register this company when we needed it if you already have this in mind why don't you register it right away but if not any minute no problem yeah sometimes you may do forprofit like for-profit holding company which belongs to non for profit but I don't think it makes sense because you want to own it
• 08:00 - 08:30 right makes sense okay anybody else what's sorry to the point what you said so the forprofit company can be part of so forprofit company can be part of nonprofit is it like forprofit company like forprofit company has shares right yes the shares may belong to you or may they belong to nonprofit as many people do i don't think it makes
• 08:30 - 09:00 sense uh because you want to own it right who knows what that will happen with your property but the the the building will be yours or intellectual property like in your case for example will be yours right um and so yeah you have all these cars to play but I I don't like over complicating things right like you do something when you need to have it
• 09:00 - 09:30 okay good okay now let's do this game that they wanted us to to play um any brave volunteer from online community no Stephanie no no no you are the most experienced one let's um choose somebody else like Gary for example do you want to be great volunteer yes yes okay
• 09:30 - 10:00 um okay um so basically we're discussing what kind of nonforprofit may be you know well structured for a forprofit venture that you want to build first of all in terms of easy start so for example if you need some uh um you know equipment if you need some facilities if you need something what
• 10:00 - 10:30 kind of nonforprofit may be good for certain uh for profit venture so Erin tell tell us again what is your for-profit project and what do you need um to start your business mhm my for-profit venture um the value proposition is to provide training services and products uh to health care organizations for the bottom line of
• 10:30 - 11:00 increased health equity and um more better worker like frontline healthcare worker job satisfaction so the trainings could be in-person training or consultation it could also be digital products um and like subscription online products for online training so that's the forprofit it's called a learning studio um and the resource that we need is community knowledge about health and
• 11:00 - 11:30 equity grassroots community knowledge and basically learning a lot of learning content um because my learning studio will specialize in e-learning markets and training methods but we need to build up a very large diverse base of learning content that's competitive the competitive strategy is to rely on grassroots community knowledge so for example um what are the health needs of formerly incarcerated women what are the
• 11:30 - 12:00 health needs of black populations or people of color basically addressing the main health inequities in North America um which are really diverse and there's a lot of theory about that but essentially the idea with the nonprofit is the nonprofit is a think tank um because just a second I want us to all together discuss what kind of nonprofit will it be oh okay it's your approach it's your approach you you will whatever you you like but I want everyone to be you know
• 12:00 - 12:30 involved in that So basically what what you need for your for you need content first yes you need software second right yes and you probably need educational facilities like this ones as well right uh uh potentially um we'll probably do trainings at the hospitals or others but there there there should be an off-site retreat center where we can invite people to do training so yes we need
• 12:30 - 13:00 space what if your customer said like we don't we don't want to do it in our facility right and also this adds credibility like if somebody ask like who is like okay come see our campus come see our auditoriums right all this technology and everything right okay now let's think all together outside of this for-profit business what kind of nonforprofit we may think of that will develop this content software and get
• 13:00 - 13:30 educational facilities what do you guys think healthcare content software and educational facilities that's very strong together it's a it's similar so we we're all together i'll just clarify that the software is like learning management systems like we use for Yeti like Canvas is a learning management system but also the the
• 13:30 - 14:00 software to develop digital content for like multimedia microlearning educational content yeah so you will use partially the software that that exists but also you need to develop something as well right yeah yeah yeah so let's think outside of Erin's business what kind of nonforprofit may be based on on on the same uh assets and by the way when you think about not for profofits uh just a second
• 14:00 - 14:30 when you think about not for profofits basically if it's B or C it you you think of of different categories right you may think about older people you may think about disabled people right you may think about new immigrants something like that you just think of all these categories in in your head and see what what would works if this is B to C and it's regardless of whether or not they're in business to B or B to C now
• 14:30 - 15:00 if it's B or B who can be a good blind for for any project B or B who is the B was a good plan for for project or hospitals more general but for for any project who who is a good client for B2B profit government doesn't need anything from you won't have something government
• 15:00 - 15:30 no who is the good to be good but yet but what is Yeti yeti is what profit exactly not for profit right exactly so anytime you you think of B2B very easy like you provide this service to healthcare like Yes most of the hospitals are uh nonforprofits yes but
• 15:30 - 16:00 for example here in Ontario uh forprofit uh clinics now allowed nobody does it yet because it's not uh well written but it's allowed now right so tomorrow they'll be here now all this medical offices even even dental care whatever all the forprofits maybe declines but when you think about non forprofit if you need to think of businesses like in Aaron's case it's business like hospitals but you may
• 16:00 - 16:30 think of nonprofits and and and charities right okay now let's think all together we need to think of a not for profofit which will have this healthcare content software developed and educational facilities no what kind of no for profofit can be t what do you think oh sorry Stephanie you want to say something I was gonna I was going to say there's a lot of overlap with what we're
• 16:30 - 17:00 doing with iPods your the mechanism of the content of your training is different but there's a lot of similarities in the platform that you're trying to create and so I could see something like that where you're partnering with an existing organization or if you're looking to have your own nonprofit maybe you look at it in terms of um I guess offering subsidies to to your customers
• 17:00 - 17:30 that are unable to afford things yeah in terms of subsidies it's obvious I'm I'm not even discussing it now because everyone understand raising funds to support the customer that cannot afford it and uh of course in new case it will be uh some clinics and some medical healthcare organizations um that don't have enough resources um
• 17:30 - 18:00 but let's think in general what kind of not for profofit will rely on this resources well for example um different training programs um they would have like educational facilities and like kind of like lecture halls oh like what right but what kind for example like um companies that work with
• 18:00 - 18:30 like uh job training like uh for immigrants or like language like language training so like there's government uh nonprofits but there's also community nonprofits or like churches or other religious establishments would have those kinds of facilities right but she's dealing with healthcare oh well like walk-in clinics what maybe in terms of training
• 18:30 - 19:00 training yes we need facilities right so we need to think of some sort of training related to healthcare because we need to develop the content right so what kind of training may it be why wouldn't Aaron go straight to the source she's working with marginalized um groups um people coming out of prison so organizations that deal with um prisoner release and integration because
• 19:00 - 19:30 that would feed into your think tank groups same thing with um you know medical and all of that other stuff sounds perfect also new immigrants people who have no idea how Canadian healthcare works uh who are coming from from different societies different approach who knows what it's also an option right and and and yes you need you need to develop contact content from Canadian healthcare
• 19:30 - 20:00 but can Canadian society consist of like mosaic right from all the different groups so people who come from overseas they probably belong to one of the groups right so it's basically the same right um any more ideas yeah and maybe uh clubs for elderly people who are interested in supporting maintenance their their illnesses their health they may attend
• 20:00 - 20:30 the classroom and uh exchange their experience and get some uh help from coaches yeah this is great idea i think this is the best idea a because um older people they really care about healthcare right unfortunately the healthcare you know I um I came to the birthday of one friends
• 20:30 - 21:00 of mine a few days ago so everyone is turning 57 and then and people discuss the health care things i said do we speak about you know art women like whatever was nobody talks about healthcare okay 57 think about beyond that so makes total sense because healthcare directly relevant to this uh
• 21:00 - 21:30 category of people and they cannot afford all this stuff um and also in many cases specifically immigrants um or older people they feel isolated so whenever you do classes and everything it's very important even psychologically for them like for example I know my mom asked me and we we created uh in our community this healthcare club so they
• 21:30 - 22:00 get together in spa and then they have different lectures and and treatments and they drink tea and they chat and this and then they're happy and we got the grant from um this um uh horizontal for seniors remember I told you last time like this isn't it because it that's one of the reasons to get a grand healthcare project very easy uh for for healthcare for seniors or programs for seniors very easy So I like
• 22:00 - 22:30 this idea uh anybody else yeah sorry but I think if I don't make a mistake um Eron is your content more about management style of the healthcare because I think that was like more about in high level management style right honestly okay wait once again I wanted to say when you think of a not for profofit it shouldn't be exactly the
• 22:30 - 23:00 same it just has to rely on on the same uh stuff right oh the same assets right so that's why I'm telling you think what do you need they need classroom like this they need content and they need software so for example if it's a healthcare club for for seniors easily you you can apply for grants or something and get this classroom and get this uh content and and get the software and then the non for profit as I said
• 23:00 - 23:30 it's easier to start as not for the not for profofit they give it to for profit to use and for profit will just pay for for use right for example nobody says it should be this but see different different ideas different approaches Anybody else anybody want to add something with this no but you understand the idea right okay great thank you um okay let's
• 23:30 - 24:00 take somebody from here yeah yep what your for profit project is and uh what are the resources you need okay so my uh profit uh project is providing construction workers with goods uh through uh coffee trucks and for my uh for profit project I need truck uh space for kitchen somewhere in
• 24:00 - 24:30 Toronto um and kitchen where some equipment yeah i so so space location license space just do good research on that because we as I mentioned we have this registered food put manufacturing facilities here it's not easy it's it can be fed registered it can be provin registered different levels of registration different types of food you can do there do good research on that so
• 24:30 - 25:00 license facilities uh equipment right in the truck okay so let's think all all together what kind of a project may need additional facilities um equipment in the truck yes there is think a food bank that does uh food outreach um and I
• 25:00 - 25:30 don't know if uh of any I know of many in Toronto that do food outreach i don't know if they have a truck but oftentimes if you look at frontline organizations they have mobile trucks for uh dental obgyn like community care for at risk street involved people it wouldn't be hard to convince a granter to do a truck for community food outreach if there isn't already one there for a food bank for example there's churches on the east end that do food for people who are
• 25:30 - 26:00 under h homeless and underhoused like that yeah yeah yeah perfect and and also people who cannot afford food for and and they are not you know mobile enough to go somewhere so it makes sense to deliver it to them yeah makes a lot of sense um yeah I was going to say have a nonprofit for hiring um people from disadvantaged groups
• 26:00 - 26:30 maybe again like immigrants or you know people who are recently incarcerated or kind of um you know people of color there's obviously lots of marginalized people uh but like providing jobs through with like even government grants or subsidies if that's possible too both ideas are great and I think they should be combined stephanie not
• 26:30 - 27:00 just hiring but creating a training program so even with PE people with disabilities have a training program where they go through an education criteria to get them ready to either work for you full-time or get them to go into the community and maybe work at a restaurant yep yep exactly i remember I told you this story of a lady who wanted to open a chocolate factory and uh we suggested like it was similar in class and we
• 27:00 - 27:30 discussed how to do it and the idea was that she will hire uh people with mental disability or disabilities in general for the factory and that's exactly what she's doing you can go and see it the other project is remember I told you Di here they have restaurant uh same thing but the approach of that lady with chocolate factor is more close to what we discuss here because she wanted to
• 27:30 - 28:00 have chocolate factor and she does have it but she hires uh young adults with mental disability and it's a big big problem because um until they're 20 years old there are different schools that take care of them but after that nothing exists nothing and what they do and um you know the nonprofits like this is really really important and helpful thing so they come there of course there are there are chefs there they're they're specialists who know how to operate things but also they work there
• 28:00 - 28:30 uh and she got everything everything through that product she go to space she go equipment everything uh and carry on she has a she doctorate and also she's doing important thing right um so basically here here it may be combination of all the ideas here so you may hire people with certain disabilities mental disabilities
• 28:30 - 29:00 physical disabilities this and that you may hire for the for the kitchen for the production right uh and also part of your operations you may deliver the prepared food to people who who need it but who needed to be delivered to their home um yeah like for example uh I told you told about our furniture depot right the trucks uh but one truck they got through
• 29:00 - 29:30 the nation uh and the other one they they got through a grant and here you go but it's furniture depot and they have a little bit of food depot as well but your type of business is different it's prepared food okay great so I think it's it's obvious instead of taking business loans and st investing big money can be done through profit as I said it's much easier to
• 29:30 - 30:00 start a nonprofit but it's easier to grow any more suggestions about the endless project i would say with people with like diabetes because they have to have like a healthy food so it's like some of the older seniors that they have diabetes and they should have
• 30:00 - 30:30 healthy food so maybe that yeah in my opinion it's a little bit too much of responsibility because you need you need to have a doctor and stuff and and all the thing because you got to be something happens should be responsible but uh you know people in need who cannot cannot mobile enough to deliver food to them it's it's a good thing and uh yeah remember I told you the story about our bales that go
• 30:30 - 31:00 everything with our building basically to that charable project in that sense right same idea so once again you of course you will have your loan if you want you'll have a not for profofit to collect money for those who cannot afford your service yes it's one thing but for the start you may think of the different activity nonprofit activity right to get the resources you for make sense any any more suggestions about
• 31:00 - 31:30 project do you have any suggestion I don't okay but you said you have questions I do have questions okay just speak louder so people hear you yeah of course uh so I've been having a lot of trouble actually coming up with a branch a nonfor-profit branch because I'm doing uh I'm just doing with electrical services so I'm trying to think who needs my services and who can't afford it and like how can I raise
• 31:30 - 32:00 money to help them and I've just been stuck on this do I Okay okay okay wait so once again it's electrical services yeah we do residential uh like electrical services why residential cannot do office for example residential we could probably do like commercial but uh non-industrial no not industrial i understand what about offices or something yeah that could fall under commercial so what do you need for for profit to start what do
• 32:00 - 32:30 I need for my for profit I need Well I need a M like you're not talking about the team itself right because there are certain licenses that we need like people who have certain licenses that we need what do you need inputs inputs like what do you need you need licensed professionals we need what equipment licensed professionals we need equipment we need materials we need uh an actual like a work van or something to transport everything
• 32:30 - 33:00 um there's we we need certain uh protective equipment and yeah that's about it we we need people uh on phones maybe we need an office at a later stage not a lot of people have offices at the early stage of of electrical business but yeah yeah you know we have electrician here in our campus and I call her electricity your
• 33:00 - 33:30 majesty okay uh Stephanie what do you suggest so in order to get the different electrical licenses those people have to put in so many hours so you could become a facilitation hub for training so it allows them to put in their hours maybe you're sponsoring either the equipment the training some aspect of that before they can go up to like electrical 2 or whatever it is
• 33:30 - 34:00 to actually sponsor an apprentice is a very big hassle in the um in terms of red tape and the bureaucracy that that that master electricians face there's a there's a lot of uh obstacles to actually sponsor a new apprentice and I was I was kind of thinking something similar i would either have like some sort of sponsorship program but I I didn't know how to weave it in in a sense but that would be the nonprofit so I I know a
• 34:00 - 34:30 little bit about this space and so yes there's a lot of nuance details but you're providing that opportunity for new newly finished grads of whatever level they're at to now try it try it out in the field in a practical sense because it's difficult to get those placements and so that would be the nonprofit it'd be a little bit of administrative work on your part but you'd be able to fund the tools the training and their learning on the job
• 34:30 - 35:00 aspect and there's a lot of opportunities for that right now because we're really having a push in trades to get more people into the trades okay ali have you heard about the organization that Scotty Barnes um uh I think he might be part he's a it's a I think it's a nonprofit but he funds it in a bit um and it's a trade school for youth who are a bit at risk
• 35:00 - 35:30 in Toronto to learn the trades it's similar to what Stephanie is saying um but the thing about this I think is strong is that it's established and it has a celebrity backing and you see like Scotty Barnes doing ads for it so it has a it it brings the comparative to you like in terms of the um brand or name appeal the notoriety i'll have to I'll
• 35:30 - 36:00 find the name of it i' I've heard of one school that has uh Scotty Barnes as their uh celebrity representative but they're not a nonprofit so I do want to look more into the uh nonprofit that offers that i know there are a bunch of free pre-apprentices uh pre-apprentice schools that offer certain things but apparently it's like 25 seats per seat like 25 people per seat try trying to get in so I could maybe offer something
• 36:00 - 36:30 similar to take the weight off of those very few free programs that could be a good idea okay great well yeah I was uh listening to what Stephanie was saying about the uh electrical assistantship like apprenticeship uh I would rather suggest something similar to that but instead of being you know you going through all the entire apprenticeship program something
• 36:30 - 37:00 like uh you can provide information uh uh information sessions with uh young adults immigrants or undermployed individuals right how they can become uh trades person in this field how your trades person has become an electrician can provide information how to access which websites they can go through and all those stuff and the other thing I was thinking maybe you can partner up with uh like I think was saying
• 37:00 - 37:30 something about real estate right so you can partner up with the housing agency where you can provide uh lowc cost services to uh you know homes that have been built uh for [Music] uh uh humanity or habit or something like uh lowinccome households they're trying to get a new first time houses right So you can do give services with uh uh not so highly charging for that
• 37:30 - 38:00 you can just basically partner them partner uh with them great no I I like the idea of Yeah of helping youth at risk by the way you can partner with this organization here used to speak una right yeah ask our lady office it's also one of the graduates it's a very very good nonprofit they often use our facilities here for their training classes called youth to speak uh they're dealing with the youth at risk and they
• 38:00 - 38:30 are placing them different places and uh they have very good results uh good but let's look from let's also look from other point of view what if you have electrical company and help somebody who needs the help like that let's think about seniors let's think about think about Yes i will say what's your name lady by the way pardon what's your name lady what's that what is your name lady
• 38:30 - 39:00 what's my name susan okay uh so I'm thinking um there's a program called social medicine and it started with UHN so um that actually help uh build um built homes for the people that they come to the hospital
• 39:00 - 39:30 um and basically they're homeless and they come to hospital because they're homeless they use emergency as a shelter because as a lot of it happened that they found out there are quite a big number of uh patient they come to emergency because over there they give them bat they give them shelter they give them boats once a week and then
• 39:30 - 40:00 they did a study and they said okay so there's nothing wrong with them basically they use this as a shelter So is they started this program they call it social medicine they actually built home for them and they give them home and that is a really really neat idea because now like the study has shown that a lot of u uh like a disease and more is about
• 40:00 - 40:30 this societal like society level and basically moneywise the the level when you go down the level when you don't have money you don't have shelter you don't you become more sick and you use more healthare so that would be something I think to look the bottom line would be that I could ease a little bit of the burden on the healthcare because you said you would use less healthcare right exactly so that the
• 40:30 - 41:00 whole idea is to relieve emergency because they say one night in emergency is $4,000 cost for a patient and there are number of patient that regularly just come over there and use it as a hotel yeah also let's think as I said who may need electrical works those who actually
• 41:00 - 41:30 cannot afford it or something who can it be like seniors immigrants like to think about it I think if we think of uh seniors who live alone like lonely seniors they have this um old style electrical system right and they paid too much and they don't have enough money and they pay too much electrical bills Like for example if you change them you know even bulbs and and everything and the system they'll pay much less for electricity but they kind
• 41:30 - 42:00 of think about it they cannot afford it this and that so for example even this service for uh lonely seniors may be a good idea for nonprofit so I was thinking something similar i just the only issue I was thinking of was how what would be my vetting process to Oh that's a good question and I have a good answer it's a question for everyone what would be a vetting process and the answer is don't have any vetting process um outsource it okay
• 42:00 - 42:30 because there are many many agencies that do betting it's much easier and much healthier for nonforprofit to not do betting just get referrals from agencies there are many many agencies and people come there and they show their income and and everything and you may give referral the agency give a list of agencies that you work with but then you you you get referral from an
• 42:30 - 43:00 agency and you're not responsible you got referral from agencies it's their problem the auditors will love it when they see right like for example for for our furniture depot that's exactly how we do so there's long big list of different agencies and the people go directly the same go to any to any agency and then get referral that's it yeah it's the best in my opinion it's the best solution don't do it yourself because if you do it yourself then first
• 43:00 - 43:30 of all it's time consuming it's nerves consum consuming how you say no right uh and also the responsibility is much bigger somebody complain oh he gives it to his cousin and something like that and then uh you know they affect your reputation or something versus you say yeah I go to pro agency that's it good so it's for everyone can you little more specific and what you said I was able to understand and probably got a
• 43:30 - 44:00 little confused can you again what you're talking about the baiting process and referral yeah so there are many agencies that through betting process so when people come to them and say we need help they say show us your revenue show us your family show us whatever and then the agency decides if these people need help but for example as I said furniture bank right okay so somebody comes to
• 44:00 - 44:30 furniture bank and says I need free furniture they say please get referral from an agency here's the list go to anyone so they go to some agency and that agency gives referral and that's it if somebody comes with referral deficilities on the agents agencies know how to do it a agencies have special personnel uh to deal with that and you don't need this conflict of interest sometimes
• 44:30 - 45:00 sorry is it for betting bing oh for bing okay how to understand if somebody need actually needs help or they pretend to need help right so the best select the best solution don't decide it's very easy they go to any agency and that's it yes so is like gold or permits right
• 45:00 - 45:30 say it again what's a wedding it's uh no to to decide who who needs it who actually needs to help and who don't i mean it's like quotes or no no no people come and say we don't have money we need furniture for example right the agency says okay so bring us your notice of assessment from the last couple years right show us how many kids you have like who is in your family this and that
• 45:30 - 46:00 how much you pay for for your rent how much this and that they look at it and see that people actually don't have money and they say "Yeah you you need you actually need help." Like "What do you need?" They say "We need furniture we need food we need this and that." And the agency gives referrals like a family doctor gives referrals to specialists right same thing the agency gives referrals to furniture depot to food bank to this and that what is the name of those agents
• 46:00 - 46:30 what they call many of them no but what they what is the overall calling them you just Okay first of all ask our ladies that they'll give you the the entire list okay I don't have it on me uh they call them different ways but you may Google it just agencies that do baiting for people to get blah blah um to be honest I don't even know if they if they especially licensed or not
• 46:30 - 47:00 i I don't even know but I know that there's a long list of them and our furniture people worked with them so if you need push our ladies and we'll give you that list uh somebody raised hand social workers do this is what Aaron said yeah social workers do this maybe yeah good so in general those agencies are nonprofits or they could be for it doesn't matter if it if it's an
• 47:00 - 47:30 agency but doesn't it's the third party that decided instead of you yeah anybody else anything for the RS project so I believe like there are um now that we are working most of the people are working from home from co there are old
• 47:30 - 48:00 factories or old uh residential areas or commercial areas which are vacant so basically those commercial areas which are vacant can probably be decommissioned and converted into residential so to become a nonprofit where you can actually look at how to convert commercially into non into residential sounds interesting yeah also again if you think of of B2B again not for profofit charities like electrical works uh like we changed all the bulbs
• 48:00 - 48:30 here like a while ago because like our electricity bills were really big and much less now will be great if some uh good not for profit will come and say hey y let us go uh right it will be great but we actually had to spend money we got some grant for that by the way don't remember the specifics but we got some grant as well um so by the way your local profit may
• 48:30 - 49:00 actually let people apply for the grants for that and then uh use it to to do what you do I have a question not regarding this but just a general as a grant last session we learned that in the first few years it's hard to get the ground for nonprofit and we have unless you go in collaboration yes unless we get go to collaboration like even we do nonprofits still we have
• 49:00 - 49:30 to kind of go collaborate with others to get money for the first few years until the nonprofit can come so so first of all good news you always have secondly communicate with the big no projects and normally people in Canada do collaborate post more grants for them they probably will charge you
• 49:30 - 50:00 something we we will not charge but others will charge something but whatever this tasty will help the stuff yeah so like for example that lady with the chocolate factory she applied in partnership with Y and uh the money came to us and then we you know we divorced the money when they did something when we purch with them and whatever and that's
• 50:00 - 50:30 it same thing this restaurant in Di and so on yes yeah uh do we need to justify our collaboration with another well established business so not business but not for profit for profit so do we need this explanation we collaborate because of something we'll have some future projects for example in the future or that maybe no no in the application you will explain all of this of course you will explain all of this
• 50:30 - 51:00 and then at the end you will have three-sided agreement between let's say Yi your profit and the grand giver right and what will happen that they will give money to Yi and Yi will control you will will give money to you okay and both of us will will report to the agency See
• 51:00 - 51:30 okay are we good with that project do you have any other questions no I think that's good i'm going to review this and then um formulate some that's the power of a group right thank you very much all together yeah that's why I like the seminar things right we sit together we discuss together this and that okay let's take somebody from online as well talia you're smiling now so why don't we take your project
• 51:30 - 52:00 yeah sure oh seriously no that's fine okay so what is your forprofit and what do you need for it so my forprofit is an art cafe that has a space for people to come in um sort of like a coffee shop and they have access to art supplies and they can pay a fee to use those supplies and create
• 52:00 - 52:30 uh you know in a space that is not like their tiny 500 ft² apartment with like access to supplies that they don't have to buy themselves either so basically it's an art yes so it's still cafe with art it's it's artic cafe am I right so call call it art pop so people will understand i think people understand art cafe much
• 52:30 - 53:00 better i don't necessarily think so i think art cafe is the cafe where you know you have different arts around yourself but I don't feel it like you you go there and you do your art right um what others think you know it's still a work in progress um so anyway I was thinking um for my nonforprofit uh during the daytime to use the space
• 53:00 - 53:30 for um activities for new mothers with children under the age of um like daycare or you know kindergarten because I find that a lot of my friends they don't really have activities to do with their kids that are like not um like well either cost a lot of money or require
• 53:30 - 54:00 travel or kind of they have to do on their So there's not a lot of places where like uh people can go with their young children and kind of like sit and relax but also have something like kind of something for adults and children okay but your forprofit not for children right it's for adults no it's for adults yeah but the the idea is that during the
• 54:00 - 54:30 daytime I wouldn't really have as many people coming in and working on art for two hours yes unless you have an profit project that will work for them project let's think of all together any suggestions how Tanya can get the space the cafe the the art house stuff the equipment stephanie you can do it a couple ways if you want people to come into your space you could open it up to
• 54:30 - 55:00 schools so it's maybe like a field trip opportunity or if you're going to have it closed you can now go into the school and have art projects that you're now facilitating within that environment um and then the third option would be you can partner with um another nonprofit you're responsible for all of the art creation but all of the art created now gets um shared with a nonprofit who then connects it to people with disabilities
• 55:00 - 55:30 or you know whatever marginalized group you want but then that way somebody is coming in they're doing something artistic which they may not want in their house but they're now giving it to somebody else to brighten up their day yeah anybody else there's a lot of uh professionals in a whole lot of different fields when it comes to art and design um whether it's illustration whether graphic design all these different things you can host
• 55:30 - 56:00 seminars and take the proceeds and donate them to a charitable organization that you may partner with like if someone if someone had a graphic design seminar you you brought in like a a graphic designer and he was going to teach something that I didn't I didn't have that knowledge about like typography or something then I I would definitely go and pay money for that seminar and then the proceeds would go to charity right so it's a good guy feeling and I get value out of it
• 56:00 - 56:30 okay anybody else yes i would say um maybe use it as a wellness center and just more about like mental health really working with art so a lot of right now is mental health in the rise or just it can be something to calm you and that's just to to the mental health interesting okay
• 56:30 - 57:00 oh sorry um Workman Arts um there's a Tanya there's a place called Workman Arts connected to CAMH in Toronto i don't know if there's anything like that in BC but they do arts programming with people who have are um diverse mental capacity they have supplies they have theater space i don't know how their nonprofit is doing um but something like that where essentially you're the thing the big thing you could benefit from is
• 57:00 - 57:30 an organization that has space i'm trying to think about how to get you that okay hey so yeah I have a feeling that if you have the space archive for adults you you don't necessarily need it for kids because the the atmosphere is different yes daytime evening time but still what's on the walls the color the the everything so I would probably focus on
• 57:30 - 58:00 adults and then let's think to ourself like who are the adults that need art during the day and need art to to help with something so for example well there's also seniors yeah so for example seniors Yeah who feel lonely and like for for example I see my mom she goes to different s clubs like every day one day one club another day another club she's active they have friends then
• 58:00 - 58:30 they go to restaurant they chat they sit and she's so she's so busy she's she has schedule that's great it's great um uh also t we may connect you with Dr who is a graduate of our program as well uh so he developed a drug free methodology uh to help people with depression his office is is in our field
• 58:30 - 59:00 compass and um I didn't mention that this activity is maybe part part of treatment so for example people with depression undergo some treatments then they go here as well this and that um seniors people with disability somebody who's stuck at home and want to get and and want to express themselves to not
• 59:00 - 59:30 feel lonely or something like that yeah that that may be great again it comes back to that ballet school with dances right simple things you want you want the arts um as I said my my feeling is the cafe is secondary so art holds art and uh yeah you will need the space you will need the equipment and everything and uh this kind of novel profit that can help with this anybody else to subject for
• 59:30 - 60:00 time so I believe like correctly this makes sense there are normal people and there are artists so generally artists are little different where you're looking at people people those who are on spectrum can become great artist the moment you say that if people are on spectrum um then there are a lot of nonprofits who will be able to actually fund to get artists to be part of the cafe if that makes sense that makes
• 60:00 - 60:30 sense for sure erin um Tanya I'm thinking about women's college hospital um because I know you uh early on in Yeti you were interested in working with women um so uh they could get massive amounts of money for building a new space that had dedication for creative expression art therapy and which partnered with professional artists to deliver really like consistent solid programming um and you
• 60:30 - 61:00 could you know in part connect with art therapy or other kinds of like research and stuff that happens at Women's College Hospital and again I think they have something like that in BC too yeah yeah no right actually I know that art art in hospitals is important yeah because people feel stuck in in four walls and um it's not exactly what you
• 61:00 - 61:30 do because you don't want to bring your arts out to the hospitals but something like that uh people who stay home for whatever reasons yeah let me get together to do arts anything else alex do you have any ideas you're so silent today yeah sorry my headphones I can't find them i'm trying to look for them um Does it have to be like wellness or anything in that vein could it tie into like a what is it called like Margaret
• 61:30 - 62:00 Holmes where they kind of fund you have various piece of art pieces of art you can probably use and then kind of fund it towards like uh some sort of charity or helping other people so you help people make the art and then kind of have like your own auction or art show where it can be then bidded off to help other people could that work as something or no yeah of course of course first of all if it's an arts hub should be collectors there right should be arts
• 62:00 - 62:30 lessons there all that stuff um of course but that's how you grow but when how you start you can think of some local profit like we discussed here like for example for seniors who are disabled people to get together to do arts you know to chat they want to have coffee and everything very good so think of people who are isolated and want to get together and they want to express themselves okie do
• 62:30 - 63:00 h so just to clarify like if I Okay so when I have my art hub if I offer a mix of like paid and free programming for different groups what you're saying is that when I offer free programs that's under my nonprofit umbrella but it's still in the same
• 63:00 - 63:30 location and I essentially am operating like two businesses one is a nonprofit and one is a for-profit out of the same location that's what our course is about you don't have you don't have to i just want you to know about it know about this for example uh your forprofit may own the building or rent the building uh and then your not for profofit will just use the building but get the grants to renovate it to to get equipment this and that and then your
• 63:30 - 64:00 forprofit may use the equipment and and pay something or exchange for like nonforprofit you uses the the facilities but for profofit uses the equipment something like that so the collaboration between two of them that's it and it shouldn't it shouldn't necessarily be the same problems right uh maybe some problems for a not for profit and different problems for a for profit the point is that they rely on the same assets same resources right okay
• 64:00 - 64:30 good okay uh um who wants next uh Alex yeah sure um so my business is primarily based around a network and development uh platform for emerging artists um with the primary purpose to give them exposure um creative direction and refinement of their music so if I'm thinking of what I would
• 64:30 - 65:00 need users obviously um they're the main selling point to attract people and obviously interact with other people because it's a networking hub and then at the same time um I need to build a website so techn is going to be a big play in that when I'm thinking of a nonprofit direction I could take it um I was kind of thinking in terms of like a more so like a place where I can like direct let's say these emerging artists so help them to apply and get into
• 65:00 - 65:30 different schools and then after that point like let's say like a Giuliards or whatever it might be different music schools or associations after that go ahead so sorry let's not discuss the local program yet okay let's discuss all together so basically what you need you need the software the the platform right that you will use and you need marketing right yeah these two things and you may get get both of them through non for profofits because for profits by the way
• 65:30 - 66:00 may get Google grants Google grants just an example Google grants it's up to $10,000 a month which is big amount of money and if you use the $10,000 you may switch to $50,000 a month Google grant it free there are some problems with that because you cannot use expensive ensive words in your advertisements only inexpensive meaning
• 66:00 - 66:30 more common words um but it's doable it's doable so as a not for profit you may see it on Google grants and heavy marketing free forever um okay let's stand together we need the platform that will connect artists with you know with virus and me community this and that And we need to get free free marketing or accessible marketing um resources like what kind of local
• 66:30 - 67:00 profit let's think together what kind of local profit may you be I think you first of all you should partner this guy right mine is more musical artist than art form like not drawing more more so of music okay so should should we use it as well somehow right okay any any ideas any suggestions for Alex Alex yeah
• 67:00 - 67:30 um like uh maybe doing kind of a charity concert where like like some artists from the platform perform um but like the attendees have to pay but like the money goes to charity and you kind of get your name out there um like it's kind of like a music festival but it's like sponsored by your organization and kind of you know maybe you can partner
• 67:30 - 68:00 with a park or something like that uh to showcase these artists kind of in real life okay uh closer and I would say um music therapy is very right now for cancer patients is very effective therapy so um you can collaborate with the hospitals even and just
• 68:00 - 68:30 um use the your service for the cancer patient that they are in a hospital as a music therapy yeah okay anybody else eric um oh that's a question that the the software like you need to craft a new online like social media platform like what do you mean by software
• 68:30 - 69:00 so what I have right now in my beta phase is a website where I have people can upload their songs while others can kind of interject let's say comments andor their own 10-second snippet of what they can do with the song so a remix and that kind of um snowballs the whole exposure other people are seeing what they can do and also the networking because they're doing it other people's songs which is more of let's say a certainty that person knows what they're
• 69:00 - 69:30 getting into rather than the unknown so it's more it's a more powerful impact if I can show you what I can do in your song rather than you guess if that makes sense i think if you need if you're needing to innovate software like you could work with she codes um it's a nonprofit that teaches women how to code um you get people in and you kind of like get them work like people who are learning how to code need projects once they get advanced and so it could contribute to your ongoing
• 69:30 - 70:00 software development and also probably help with marketing um I'm not sure exactly like the marketing piece but definitely the coding piece sheet code i'm using ripen right now i'm actually in talks with starting the ripen thing with York University so she code I'll take a look at it anything else
• 70:00 - 70:30 yeah again as I mentioned you may partner for example with this clinic for people with depression i think music is a great way out of depression right uh or maybe disabled people and seniors as well like like all this stuff you choose it because music is such a cure so so many uh you know groups with problems may be maybe good clients and um in
• 70:30 - 71:00 terms of marketing as I said like for example Google grants like Facebook grants um many other ways even Google grass is a very good thing you can you can have it forever profit only if you use it so Google gives you $10,000 you don't use it you lose But if you do use it and if you use the entire $10,000 then they give you $50,000 um okay D
• 71:00 - 71:30 um I was also thinking that um partnering with I mean you said music therapy but the thing about that is that if you're not an official music therapist you can't give anyone like music therapy but something that I've done before is partner with a retirement home and do a concert there so since your organization has
• 71:30 - 72:00 access to musicians who are most likely just starting out and need not even necessarily exposure but like experience of performing performing in retirement homes performing in schools performing like in universities getting those connections and like giving them the opportunities that could be like the nonprofit is working for the people using the platform right so so uh using the the software to bring people
• 72:00 - 72:30 together and the performing for for people yeah it's also also a great idea yeah anybody else anybody else no thank you yeah that's exactly what I want to say yeah okay let's have a break for 15 minutes and we'll see you again in 15 minutes i can't sit for too long um
• 72:30 - 73:00 okay um again maybe any questions about anything just brief about them any questions about anything yes so again if I went down this path that you're saying in terms of I incorporated so I was primarily going for for profofit i know you mentioned in the past that I can make that switch possibly to if I wanted to pursue mainly
• 73:00 - 73:30 this 10K grant to kind of boost up marketing and then switch back how do I make the transition to switch to nonprofit and then switch back no no no no i don't I I don't mean that you register for profit then you switch to nonprofit then you switch back no you register two two different entities one is for profit one is not for profit and uh um for example if you need to raise
• 73:30 - 74:00 uh money through grants through whatever to to get your resources like for example to to build your software this and that and it definitely will belong to not for profofit But the for project may may use it like lease it or whatever or you may sign a collaboration agreement between not profit and forprofit um and see who pays what like basically again how this building works right it's for Yeti which is a charitable
• 74:00 - 74:30 organization but we created this corporate venture that go mortgage purchase this building then pays utilities and pays whatever should be paid and the end uses it and compensates the porp profit the expenses that's it that's why it's a for profit without any profit this is not your case because the the primary entity here is y not for profit in your case um your primary entity probably will be for
• 74:30 - 75:00 profit but non for profofit will help to you know to gain to gain resources at the beginning as I said many times it's much much easier to start as non for profofit and then to grow as a forprofit so if they want it in a collaboration then not for profofit will you know push the the overall model at the beginning but then for profit will bring the not for profit with it right so grow together so in my opinion it's a it's a
• 75:00 - 75:30 very good combination basically so um with my nonprofit there um or my forprofit there's so many different organizations that I could work with because health health equity is a massive social problem affecting so many communities and I would love to to work with many different nonprofits my question is in the social nonprofit model do you can you kind of like gunshot like like splatter yourself
• 75:30 - 76:00 around with a lot of different nonprofits or do you want to try to consolidate it and like create one nonprofit that many other nonprofits can then work with do you know what I mean yeah I do i do uh so basically every non okay registering and maintaining nonprofit is more complicated thing with a for profit if it's a charity it's even more complicated like this book for the next session right uh so yes I guess it's better with just just because of
• 76:00 - 76:30 the of the logistics for example if you need to have audited financials you cannot even imagine what kind of handling is it like you don't want to have two organizations with audited credentials and if you don't have audit financials you cannot apply for for a serious grant right yes you can apply for like 20,000 like 70,000 but not for for a million dollars or so or something like that you have to avoid financials um so basically you can you can have B
• 76:30 - 77:00 for profits but it's it's easier to deal with one you better have different departments or branches like for example look at GI uh certificate programs Yiddi diploma programs which is different separate thing right we should get registration with the ministry of high education so it could be a separate thing but we don't want it because again we need scholarship for you guys right and uh we need a charity but two
• 77:00 - 77:30 charities too much uh the venture fund again it's Yi right we could do a venture fund a separate entity but again it's complicated um and then we do investments from Y and it's it's the same Y and yes our auditor hates us and yes our audit is expensive auditing is expensive in general but if you over complicate things like this it's really expensive but it's still better than dealing with many not for profofits
• 77:30 - 78:00 right now we registered a new not for profofit to fund Canadian Foundation for innovation and research because we want to we want to get funds from corporations uh for research nobody gives any money for research uh but we want to get money for research and that's why we decided to register uh a separate but it's not broken and it will not it will not have audit the financials because we'll just go after corporations and ask them to give us from their marketing budget and we do we
• 78:00 - 78:30 already got like we couple weeks ago we already got $300,000 in funding for that u uh fund because we know how to how to talk to people we know how to explain Um yeah so the short answer deal one okay anybody else okay so so then your turn okay what
• 78:30 - 79:00 is your for profit and what do you need for that and what your what your customers maybe need for that okay so my forprofit is creating a SAS model for implementing a small lab devices in community and that SAS mo SAS model has two values a um bringing the quality um
• 79:00 - 79:30 as a system bringing the system teaching the system how the point of care uh testing should be done based on the system and the other thing is the infrastructure for collecting all those their little devices in community that right now is all fragmented and on the paper in one place so what I need for that is a developing the SAS is
• 79:30 - 80:00 expensive for that the software the software yes not SAS the software sas is software as service yes software yes um and then uh what what the software will do so the software it um if created system for um monitoring and implementing the lab testing in community care like a
• 80:00 - 80:30 pharmacy clinics and all those based on the standard so it's a standard system it's like a quality management system but how how you measure the quality so basically it has a a it has a training module so everyone has to be trained it has a quality control module that how controls how to control so every device has coming with the quality control they
• 80:30 - 81:00 have to do quality control and if that fails it lock the system they can't do the testing until they resolve the issue um it has a many aspect of um basically um I I I still want to understand like how does quality control like what what exactly happens okay so for example I'm a pharmacist and I want to bring this
• 81:00 - 81:30 this is the kit i want to bring this to my facility and I want to test people yeah but in order for me to actually do this testing the proper way there should be a quality system around it for um operation and the first thing is whoever want to do this testing has to be trained so if it's not trained should not do testing okay so it's the software that does training training it has a
• 81:30 - 82:00 training module okay the other thing is so this the kit has to do quality control so the quality control there are like a um a solution with the standard numbers like between 3 to five in this solution that if you add it the hemloc should be 3 to5 that's example and if it's readed that way so it's okay you can go ahead
• 82:00 - 82:30 for patient testing if it's failed then you have to know if there's a problem somewhere and you do traction you're measuring what you're measuring so the quality control solution is the solution comes from the factory so the person is actually doing the testing but entered in our system if it pass the number so say it would understand okay
• 82:30 - 83:00 so the number will go to the system if it's within the range it say pass and it tells you go next screen now do the patient testing so this is the thing the the needle or whatever right it has serial number or something you input the serial number and it knows that it's a it's a good thing is it is it yes so the inventory it's track the inventory so you add the same
• 83:00 - 83:30 number so and then you add the value for the quality control so it track the quality control it track the expiry date if it's is not expired or expired um is uh so a lot of little things that is part of the system i understand so you input the serial number and it tells you about this okay good i understand now let's not let's not connect let's not
• 83:30 - 84:00 attach oursel to this specific testing thing right we're looking for a software that will do training and that will uh consider whether or not some item with the serial number is good okay let's think don't don't be stuck with a specific testing and it collect data as well so that's the other part that is so important because then in it's going to be one platform that in
• 84:00 - 84:30 pharmacy A can put the number pharmacy B can put the number and if the patient goes from Toronto to Timmens to Vancouver that's all can stay in one place makes a lot of sense okay um I I have a couple crazy ideas but let's listen this now Stephanie please this kind of sounds like it would be similar to an inventory tracking system
• 84:30 - 85:00 for a grocery store and um so maybe you can look at either creating a food bank or something where it's where you have expiration dates and you're now developing this software that's being used to help the efficiencies of something like that yeah that's an option um any any other ideas you know you don't necessarily
• 85:00 - 85:30 have to be stuck with with your sector right we just understand what the software should do it should do trading first it should do uh checking and it should uh you know making sure that that is accessible right there not necessarily in your field anybody else maybe in your field maybe not anybody else so research companies where they have a software where they're looking at the quality
• 85:30 - 86:00 control of uh equipment or quality control of pharmaceutical medicines and I see some correlation which can be used to so if you have a research company which is not for profofit and it's been funded by uh various different agencies it is good time to collaborate with them to see if there are some synergies and it can be used for developing your SAS or um use the
• 86:00 - 86:30 resources which are available from there to actually see whether different lab can be created or you wanted to create your own okay anybody else um I'm thinking about doctors without borders because I'm I was just looking at what nonprofits are really giving attention to blockchain um technology and the use of blockchain for social good who are going to be
• 86:30 - 87:00 attracting blockchain experts who you need develop this software um uh and also doctors with borders has a health mandate a global health mandate it would bring brand awareness to you because they're a famous nonprofit maybe that's one way yeah very good you can uh we can do even uh you So brand uh used brand clothes for example
• 87:00 - 87:30 oh how that one oh because uh if it's in the system you you input the number and say if it's fake or it's actual bread but no it doesn't it doesn't really work that way because the way that the way that we design it is very specific with the workflow of that okay okay okay good so
• 87:30 - 88:00 for example senior houses when social workers want to use special medicine or special whatever equipment they want to make sure it's not expired it's not this not that and undergo training as well for example for senior housing um social workers who go to seniors basically right for example they come and there there's some medicine there who knows if it expired about this and that uh that may be as
• 88:00 - 88:30 well we're just talking I'm not uh I'm not dictating you no no no I then I tell you how what I thought that when everyone's Okay anybody else anything else no okay so so I'm just thinking uh because
• 88:30 - 89:00 um it's hard for our customers to pay for our service because that's what we heard from them maybe uh we start with indigenous community because diabetes in indigenous community is very high and most of them they are in remote area so if we become a nonprofit organization and collaborate with the nonprofit organization in indigenous community and
• 89:00 - 89:30 bring that service along with tele medicine that would be a good solution for um remote area and for Africa I'm just thinking uh even with the Africa or collaborate with WH because that it can be a great solution for the Africa for a lot of those testing can be done
• 89:30 - 90:00 on the small lab devices in the remote area so that's another but to to get to get grants for uh indigenous communities here in Canada will be much much easier basically and the access to research as well because they're um indigenous study department in any university basically and you know all these grants like IRA um for for example uh you work in
• 90:00 - 90:30 collaboration with the university do some research the result of the research belong to Uh so the money goes to the lab uh at the university they do research for you but the the result is yours also great um I'm thinking about the training aspect which is intriguing to me because that's what I do um I heard about a nonprofit that does water quality training with indigenous communities they teach them how to be water scientists
• 90:30 - 91:00 um so that they can monitor pollution on their own terms but scientifically and it creates it's job creation for indigenous youth um so you could do something like that as well as partnering with a First Nation organization that is doing health promotion training uh within for indigenous communities which I mean having done drug policy work partnership with First Nation communities it's really really it takes years to develop those partnerships so
• 91:00 - 91:30 it's something you want to consider um also because there's a lot of distrust of any kind of external medical there can be distrust of external medicalized stuff with indigenous communities because of data exploitation so um that's just something to consider um but the training it's the training approach and the more educational and cultural based health promotion um there's already a lot of work going on around that in um Canada
• 91:30 - 92:00 so that might be an avenue in Cool anybody else mr silent Aar any ideas uh no amount of ideas today past Okay um okay anybody else okay um let's switch to Omar's business yeah so I actually thought about this quite deep and I I thought like given
• 92:00 - 92:30 that I have a natural tendency towards sales I was thinking my not for-p profofit would actually be a fundraising event organizer for other not forprofits so uh and it would indirectly affect the way I do business as well within the community because as a real estate agent if I'm going around uh organizing fundraising events for a bigger charity it shows that I'm supporting this community so it has a positive it it doesn't have a direct uh benefit to my
• 92:30 - 93:00 business but it has a overarching positive impact on my business and the society as well overall so it's a win-win situation for all of them so that's what I was thinking that might be a good approach and what I would need for this business is actually I'd need uh volunteers for sure that's one but then also u an event like um like a a venue like to host this event that would be the my biggest cost and then it's just the marketing and advertising that would be the basic cost and catering and
• 93:00 - 93:30 things like that so general I guess that's what I was thinking that this could work and we could do different funds in different cities uh raising funds for different charity organizations yeah cool sounds good but basically for your forprofit first of all what do you need is a marketing and b getting people educated about real estate issues right I guess because real estate is crazy
• 93:30 - 94:00 expensive but there are ways how to you know get it done whatever so education marketing so how we get access to it let's stay together I'm not arguing with your idea of a profit I'm just brainstorming here to the sake of this discussion how we get how we get prearketing and uh how we get people educated about real estate things stephanie
• 94:00 - 94:30 maybe you can set up some seminars where you're teaching different populations marginalized groups about real estate and some of the ways to effectively purchase something or save for a down payment or some of those loopholes yeah good good point also maybe like if you think about marginalized communities like people with disabilities or something they're big money in real estate field right so for example if you
• 94:30 - 95:00 train them if you if you make a program of training them about real estate things they may become uh you know agents of yours for example right and uh they'll be involved like even people with mental disabilities and physical disabilities it it's again it's it's like the chocolate factory uh right it works really well really well so first
• 95:00 - 95:30 of all you can get and and for this for this nonprofit you can again you can get this free Google grants and it's great and uh you can do events and um also those people uh you can train them they go like for example even physically disabled people then they go talk to people in the neighborhood and this and that and the attention will be very different and the good guy feeling is there as well Okay
• 95:30 - 96:00 and anybody else suggest something yeah um I'm thinking maybe um maybe have um a nonprofit that um like for seniors um they might have like one basement I mean it's vacant and it's just maybe you can um create some work
• 96:00 - 96:30 around it with volunteers and say just empty it and and made it as a income property and for them for that senior is income for society is another place to live because right now we have such a shortage of and um it's just you get volunteer to basically a lot of those places they just need the cluting and just maybe a
• 96:30 - 97:00 paint and get it ready rent and then you can use your services because those seniors one day they know they home so you can be there think also I'm not sure if it's a good idea I just want to share uh maybe I I told you this story but when the war uh started in Israel when I just came there uh one
• 97:00 - 97:30 of the projects that I went there it's uh you know to find safe place for people from affected cities like for example the city of Ashkalon which is 20 km from Gaza which got like 5,000 rockets a day um in the the beginning and uh like the government wasn't able to help them because they're closer places that they have to help and um the idea that u I thought about there was to approach
• 97:30 - 98:00 people who uh learn their real estate state Airbnb rent but uh nobody rents it so we create a non for profofit but um and we contacted those people and offered them to pay them 50% uh but you know have this space as a as a safe space for people from Ashkalon for example from from that city and it worked very well so maybe maybe now here
• 98:00 - 98:30 in Canada the market is not that because it's not that complicated to find renters but it may change and some end it's changing actually so maybe maybe something like this a non forprofit that will approach people who let their real estate rent and offer them like pay 50% for example plus the good guy and use it to people who don't need shelter maybe and then the not for profofit will will make sure that everything is safe everything's good nothing is broken blah
• 98:30 - 99:00 blah blah and u the insurance something like that uh yeah it's also very very good for marketing that's a good thing to do yeah thank you anybody else anyone uh I'm not too knowledgeable about this uh about this sector but I know that a lot of facilities that house recovering addicts they need certain types of real estate help whether to be uh whether scraping
• 99:00 - 99:30 real uh different types of real estate listings to send uh recovering addicts to um specifically facilities and houses that host recovering addicts so maybe you could try helping them find different listings and find different uh places that they could go and finish their recovery yeah thank you that's a interesting target to approach yeah consider that cool yeah anybody else so I believe like you can create a
• 99:30 - 100:00 nonprofit which could be economically uh great for seniors so by that you can actually target seniors but you can see seniors also willing big houses can dising move from big houses to uh to condos or something which would be more economically friendly for them at the age and then you can also approach and look at probably use the reverse mortgage or find out some ways where you
• 100:00 - 100:30 can make them financially free and use that to promote to all the seniors capitalize on that and grow your corporate business okay erin thank you now I did work in jails and prisons and a big issue is postrelease like we don't think about a lot but there's a lot of people coming out of jails particularly who are in extremely vulnerable um situations especially in winter time
• 100:30 - 101:00 because the system does absolutely nothing to make sure they're housed um and so short-term housing but if you pair that with post-release supports like financial planning life skills education like helping people get into higher education like but I think like particularly your part in terms of like what does financial planning look like for renting how do you budget home ownership how do you work towards that so it's sort of like um education and
• 101:00 - 101:30 short-term housing at the same time and the bottom line is that we've got a huge housing crisis and housing shortage um and people who have low housing are at much higher risks of incarceration so um you're dealing with the prison pipeline uh and it it could really um it's a huge like it's a huge problem that you could help to address thank you so um post-release organizations like Breakaway that do both like um
• 101:30 - 102:00 incarceration but also mental health and drug use stuff abolitionist organizations places like that awesome thank you else hey thank you thank you proper So what is your for profit what do you need for that and investing together
• 102:00 - 102:30 what kind of forit it's currently what I have so here I was talking about my nonprofit first no no no so I don't care about the nonprofit tell us about your profit so my forprofit is uh is more like a holding company having assets and real estate into it along with uh um Oh so so your your main organization will be nonprofit yes oh okay okay so tell us about your
• 102:30 - 103:00 nonprofit so my nonprofit is it is userentric digital platform where I'm looking at pairing caregivers with the seniors so that the seniors can reach at home so the requirement for my nonprofit is to ensure that I find quality caregivers which are available i find proper seniors who are wanting to age at home and for that I need um I need a digital platform to be developed and I need funding and grants so that um
• 103:00 - 103:30 the pairing can be done yeah I don't necessarily think you have to do all of this through nor you may make money because there there are some families some seniors who are able to pay mhm like for example if I did care for my mom well I'm wealthy enough it's just not not good for me to to use not for profit right i pay but I still need the service right so you don't necessarily need to have just non forprofit they may
• 103:30 - 104:00 have they may have forprofit that will u you know help those who could pay right and not for profofit who will u you know help those who cannot afford to pay work in collaboration anybody to add to this so basically it's an it's the easier form because you you need the uh you need the platform right you need to develop the platform and marketing and whatever and basically your local profit
• 104:00 - 104:30 will be doing the same as a corporate right any suggestions any additions you're on mute Okay anybody something you guys tired still alive okay no okay uh good uh who else you guys started or you
• 104:30 - 105:00 good we're good okay okay but so I was going to say something about Proffulas um I I think like I like what you're saying about the the subsidi the subsidies for people that can't afford it but maybe he can put something in there that if he wants to just keep it simple so he doesn't have to go through the vetting process somebody now has the
• 105:00 - 105:30 ability to pay a little bit more to help with the overall reduction like pay what you can this is our base fee and if you want to pay a little bit more you're welcome to do that yeah it will be harder to explain to donors but if you're not dealing with donors it's sure sure because when you're talking to donors and by the way there are many cases when donors told me okay we we looked at your financials on CRA website and it looks good and that's
• 105:30 - 106:00 why we supporting you okay so donors do care even if you don't think so donors do care how you use their money yes they're getting tax and sees for example if it's charitable organization right but they still do care how how efficiently use their money so when you say pay pay uh what we can they may think and say themselves maybe it's not the case but they don't think okay some people with money just overuse the system right
• 106:00 - 106:30 especially if you say you know we have agency that's vetting people and send them to us blah blah blah it it works much better with don with donors trust me from my experience but if you are not dealing with donors if you if you're getting sponsorship from corporations for example something like that then it's easier this way so it's up to you okay anything else
• 106:30 - 107:00 okay let's go to Joseph Joseph's project yes Professor Mat um I gave it some good thought and actually I kind of changed my idea based on the nonforprofit and for profit and um I thought I'll think big and um so I also one of my other long-term goals uh is to actually establish a pharmaceutical firm because I'm a pharmacist by profession i have a
• 107:00 - 107:30 doctoral degree so um one of the models that I'm thinking of is um a hospital which is uh not for profofit um and um and then the for-profit arm would be the pharmaceutical and a diagnostic center that would feed in or or or take its uh revenues and and kind of serve everybody and uh let me ask you Joseph why hospital should be non for profofit
• 107:30 - 108:00 sorry bro sir you said why uh so you said the hospital will be non for profofit so my question to you why the hospital is not for profit um one is that I I see that most hospitals are uh not for profofit and charitable and what because they're government funded it's different thing if if you uh build your private uh private clinic or hospital it's
• 108:00 - 108:30 different thing I'm just asking I'm not saying it's wrong approach I'm just just ask me why you know why why you think um I haven't thought in that way the only reason why I chose was I see people doing it that way and I thought that's the right way but maybe I will give it a thought uh the only reason why I chose this to be a nonprofit is to get the charitable status uh and to get the benefits out of it uh because in a very long I'm also thinking of an educational institution for pharmacists and for to to uh get some people to uh staff the
• 108:30 - 109:00 hospital and the and the facility so uh that was my long-term I haven't fully thought about it but this was my idea maybe I will think of a forprofit hospital but I don't know how it'll fit in right so I I can tell you from my experience it will be very complicated that the entire hospital will will be a charity you you will die if you own it because after those so many things like you you you purchase this you you pay uh
• 109:00 - 109:30 these people and uh and how it works and then and then you you are dealing with OIP right or whatever health insurance whatever and for that thing people pay you for example something that's not covered by OK people people pay but how much you charge it's like it would be so complicated I would do like Basically what like Y is a charitable organization right but government sees
• 109:30 - 110:00 us as a private college why because it's not them who created us but we created ourselves yes we're a charity but they consider us they they didn't confuse with us because we are private college for them but we are not a private organization right the same situation will be with you so I would suggest like do more research on that but I would suggest you have a forprofit clinic and a charitable fund
• 110:00 - 110:30 to pay for people who cannot pay for themsel okay so for example the treatment that uh or whatever healthcare insurance pays it doesn't matter it's corrobor but other stuff like some tests uh many things right some know many things actually have to be paid either directly or through some through some fund so it's
• 110:30 - 111:00 much much better to have a charitable like blah blah hospital charitable fund that for For example uh here nearby this is McKenzie Health Hospital they are not for profofit but they have charitable fund that collects money to pay uh something that should should be paid and I think it's a good model right but you do more research and you you you think more uh remember I I
• 111:00 - 111:30 said the charitable organization may be either active organization like or it may be charitable fun uh it's relatively easy to get money for for a hospital everyone understands it right okay uh anybody anyone wants to suggest anything so I I didn't get the forprofit model
• 111:30 - 112:00 so so what is your forprofit model is a healthc care facility what is that so sorry so my forprofit model so um if you're asking about how I'm making profits is that the question Susan what is your forprofit arm yeah make money so I'm thinking of a
• 112:00 - 112:30 pharmaceutical that will make money uh by giving its products to not only the hospital but also establishing other logistics and um you know the other supply chain but also primarily from the hospital that's one one way and the other way is the diagnostic center um actually having a um because it's a forprofit actually having a model where for every one OHIP waiting list patient uh served one would be paid so so a
• 112:30 - 113:00 balance and and you know a profit from there but also operating a diagnostics is a profit by itself uh so those are the other profit arms looking at different maybe leasing out for food or you know cantens and the so I'm thinking of different um forprofits that would fit into this not for profofit uh which is a hospital yeah I would do I personally would do you don't have to follow this but I would do this all one for profit
• 113:00 - 113:30 uh your one separate forprofit which is a holding company real estate for equipment it's a holding company then your forprofit that runs runs the clinic will lease it equipment and uh use use the real estate from this holding company right and then you have charitable fund uh that will collect money and pay for for those treatments that are not covered by insurance um and I would suggest one more idea you may
• 113:30 - 114:00 have your your own private insurance like everyone comes with old people or something like that but you may have Joseph clinics insurance okay and then the companies the companies may purchase this insurance for their employees and then since they already have the insurance they'll go to the clinic right uh for for those treatments that are not covered by OHIP uh but your charitable fund may pay for insurance for those who cannot afford to buy the
• 114:00 - 114:30 insurance and that's why it will be fair it will be open to to everyone and and and everything in your clinic will be like free i I'm covered by uh all people covered by Jose of insurance say yes professor I I I did have this idea because I I saw the same idea working for the past 10 years in a in a multispety hospital t quart quinary care teaching teaching hospital in India where that really works because they
• 114:30 - 115:00 have their own insurance only for their employees and also for because they also have a university which is a separate charitable organization even the students get covered like even your international or whatever so um it it works really well in in thanks thanks yes okay okay great anybody else have anything medical
• 115:00 - 115:30 field okay okay uh let's switch to Balanche thank you uh so I'll just be very brief uh my uh for profit uh is uh fast food chain similar to McDonald's i just want to sell uh Indian food in a fast food way that's my forprofit and for my forprofit uh I need
• 115:30 - 116:00 a central kitchen equipments uh rental space for you know dining customers drive through and all those things and POS softwares uh for building and whatnot and packaging like all the uh containers and stuff like that and similar to the project basically right different but yeah exactly so we have a similarity I think Janet as well she
• 116:00 - 116:30 also is with the food industry so okay Go ahead sorry yeah let's think let's think all together so we need kitchen we need what i guess packaging delivery stuff right uh but it's it's a specific type of food let's think of a
• 116:30 - 117:00 not Yeah don't know that um bal I would think um because you have you need packaging you have you need food you need people and you need you need manpower as well I would think even of uh having a small uh educational institution like a catering institute or something like that which would uh both provide you with um with manpower and also the uh the kitchens and the facilities that you used to teach can
• 117:00 - 117:30 also be leased or rented or shared with your um existing or or your your business your for-profit business and um also you have some idea for the for the students to you know get enough manpower internship or things like that and get yourselves started great great thank you again we may also consider this the same stuff as we discussed for Venice project if you use
• 117:30 - 118:00 you know disabled mentally disabled physically disabled people to to produce it it's very very good not for profofit you know to to help them as well and then deliver part of what you produce to people in need who actually need need the food and they need it to be delivered from your community maybe specifically right uh this a great al for profofit to raise uh raise funds for uh the space and equipment and everything yeah and maybe very good
• 118:00 - 118:30 structure anybody wants to add something um you can partner maybe with an organization like Meals on Wheels that de like that um deliver food to people who maybe like can't leave their house or are sick or kind of like need help um so they do have like their own kitchens and they do I think have um sometimes like organizations that they partner with for like different holidays so um
• 118:30 - 119:00 you said it's going to be Indian food so it could be like for any holidays if they have any users who are with an Indian background they can have like cultural food for that those holidays and you get your name out there but then kind of you're providing that good feeling for serving your community as well
• 119:00 - 119:30 yeah also not for profofit part but for for profit part something like um Indian culture they corporations because I think it's import it's important to understand each other's culture right so many corporations may be interested in this like today it's Indian culture day right and at lunchtime it's Indian food maybe music maybe something good idea you know when I had my military service back in Russia
• 119:30 - 120:00 uh it was Soviet Union actually not back then so many countries all together it was my idea uh to have like a culture week because we had many many cultures from Soviet Union and nobody understands each other and that's why people sometimes fight because miscommunication is everywhere uh some people don't speak Russian well some people don't understand each other this and that so it was my my personal idea to have like this culture week and then that culture
• 120:00 - 120:30 week so we started from Jewish culture week so what happened I uh it was like a session I explained to them the history and the traditions and and this and that like uh and then we prepared some food all together this everyone loved it and then every week we had this Georgian culture food and theistani culture food and so on so forth so maybe interesting idea for corporations just saying Erin please
• 120:30 - 121:00 um I'm thinking about packaging supply chains packaging and equipment supply chains and this um there's a nonprofit that I saw I think it's a nonprofit but they are all about industry people being very concerned about the sustainability of packaging so um they have events like conferences where they gather people from all over the continent and talk about these issues they do policy work
• 121:00 - 121:30 um and so it uh again too with food sustainability organizations um like they do like a composting map in different municipalities so stuff like that also um organizations that do recycling um nonprofits so thinking about your because I know you were thinking about sustainable food sourcing uh and you could help provide food and you could get um donation like you can get um tax receipt for your food donation well actually that's not the
• 121:30 - 122:00 kind of thing that you can get a tax receipt for we learned if they're eating your food you can't get a tax receipt for it but maybe there's some way of making it mutual no if somebody donates money and then you use the money to provide food to to those in need then those people of course can get in touch with you okay got it yeah yeah joseph um so I also had this um this idea for Balaji uh that because you are having or looking at an Indian restaurant um and
• 122:00 - 122:30 most of your sales would be Indian people or people who love Indian food so uh you have big festivals uh a lot of Indian people have good big huge food you know festivals like all through the year so so one of the nonprofits that you can create is actually um um maybe a community center maybe maybe some kind of center you can even get funds from the government to actually create like a Indian community center where you don't have too many community centers and in and and provide a space for people to
• 122:30 - 123:00 have their functions so in this way like you know there are celebrations in this way you get client you you get you get uh you also make profit but also you get cliental from your not for profofit nice let's think a little bit further who may be a good donor and a good sponsor for for the non for profofit that bal may have people within that community businesses
• 123:00 - 123:30 maybe religious institutions they would be a good partner yes but who can be a good sponsor who would sponsor this the real estate of that community they really looking for branding all the time right what about Indian restaurants cuz if they sponsor this then they will distribute Indian food
• 123:30 - 124:00 they maybe even to to uh to people in the like to older people but then those people will say oh we tried it their family right they extend the family they say oh it's tried it's so interesting blah blah blah and then people may be interested in going to Indian restaurant or something just thinking uh any other ideas who may be a good donor I mean not for the donor but I'm just thinking about the the non profit
• 124:00 - 124:30 uh it can be very good uh for the seniors of Indian culture because there are a lot of seniors as you mentioned like they feel lonely but most of the women they know how to cook like for them it's just like getting out of the house they actually doing something for community so they use their skills and that could be a very good thing for even
• 124:30 - 125:00 for mental health for the seniors of that community yeah yeah you know I I have a nice story as I said my mom goes to different seniors events everywhere uh she's not good in English of of course those Russian speaking so I uh I suggested this Jewish Russian restaurant uh to sponsor events for them so what happened after after that after the their community event some of them went
• 125:00 - 125:30 to that restaurant to celebrate and after that every time they have birthday every time they have anything they go to that specific restaurant because first of all they liked it and and secondly because they remember that that they sponsored it it's just happening right now i I was amazed to which extent it actually worked so I I came to them and said would be interested to spo to sponsor this senior's event uh you know they have this exercises and
• 125:30 - 126:00 the lecture and then music or something or something all together said like how can I better said just try it trust me try it work really really well um okie do okay um Stephanie since you're hiding but still won't talk to Sorry a little unwell today um but I guess the forrofiting don't worry the the forprofit is a
• 126:00 - 126:30 research facility and we're going to be conducting research on pots and accessibility okay and what do we need for that we need uh software we need computers we need servers and um and I guess just manpower and access to uh a proper library system
• 126:30 - 127:00 okay so what what what kind of for profit we can do i know Stephanie already has enough for profit so uh but any any suggestions from from the class hey everyone starting over so Stephanie tell us about that so specifically regarding research we're looking at um one fundraising to fund these studies
• 127:00 - 127:30 and two looking for community involvement so people to help facilitate running the study itself whether it's putting surveys out or whatever the case may be or collating data things of that nature also hold those grants for for the research as well right yes maybe maybe some um no results of the research maybe some
• 127:30 - 128:00 patents of anything maybe intellectual property that maybe corporate profit may use and then they generate some revenue as well all right um so a nonprofit that could match up with this even though it's not your nonprofit is something like the Center for Community- Based Research that trains people in community how to do their own research um which is the kind of work that I've done and they they do
• 128:00 - 128:30 work with all kinds of different partners largely um just like yeah community groups perfect thank you they're based at um one of the universities in Ontario i forget which one anybody else like I know you already have a nonprofit but what about um kind of providing
• 128:30 - 129:00 financial and um like assistance in installing maybe uh accessibility like tools and means for for people's homes because I know a lot of people like develop disabilities kind of suddenly and then they don't really have those funds to like update their
• 129:00 - 129:30 bathroom or their stairs or things like that so maybe even partnering like with that um with those um we had another class that they talked about the tools right the the playground yeah the tools exactly so maybe partnering with a construction company or something like that to have you know someone who can come and install like a rail in your bathroom or like install a
• 129:30 - 130:00 ramp if you know your home doesn't have um like flat access mhm so if you're already working with people with disabilities maybe that's something that you can offer as well kind of like as micro grants okay that's a great idea thank you interesting anybody else joseph do you have any ideas about it
• 130:00 - 130:30 uh I mean I'm just suggesting it may be wrong but uh uh you know for for profit uh just for specifically for iPods I mean we can uh we can develop like uh wellness devices let's say like resistance band just to for them to do exercise at home or something like that uh like specifically for iPods maybe you can customize specific training equipments so that they can stay
• 130:30 - 131:00 healthier and fit or something we were thinking of partnering with existing companies that use equipment but I think that that's another really good idea yeah actually something Balaji just said um like you can also partner with um like uh physiootherapists and have online uh kind of like fitness classes for
• 131:00 - 131:30 people with specific issues like people who for example are in wheelchairs or people who you know have other mobility issues or maybe like you other challenges in working out so that they can actually show them different exercises that are suitable for them and like their capabilities and you can like you can sponsor those classes and maybe offer something like once or twice a week for people with different issues so that
• 131:30 - 132:00 they can they don't have to go in anywhere but they do like if they have access to a chair for example if they have access to a mat they can participate in these online classes and also like connect to each other okay we were doing we're thinking of a different model but um where we would license physiootherapists to be able to follow our program but um I like the community aspect so that's a really great idea thank you
• 132:00 - 132:30 cool anybody else all good okay great so I believe we discussed all the projects here right anybody missed here no okay i hope now you you have the understanding of how it works you may think of working with a creating or working with a not for profofit which a will give access to those who cannot afford to pay for your services or
• 132:30 - 133:00 products and b maybe it may be a different not to profit which relies on on the same equipment the same facilities and uh whatever that may help you to start your your uh business your model quickly get the grants get the equipment get the space and then grow with your for profit growing okay good i hope everyone gets the idea you don't have to do it i just
• 133:00 - 133:30 want you to clear and understand how it works okay now uh at the exam at the end you will get the idea of a forprofit okay and you will have 3 hours to explain what kind of nonforprofit can use the the same equipment the same software the same whatever will be described there right it shouldn't be exactly the same as a whole broker they'd be very different right but something that relies on the
• 133:30 - 134:00 same uh same equipment same software same whatever right so they work in in collaboration and they they gather everything in the beginning and then grow together okay understood that will be the thing and for your essay and then you will just write the same for your for your project right what kind of nonprofit community you may use and how you live and who will be the best sponsor who will be the best donor for that and all that stuff okay any questions about this so next uh
• 134:00 - 134:30 next session um thank you so thank you to Proful who actually got the book please please please uh get this book either from our library or buy it or whatever read it because we will bless you because we will have the round table with experts as I said with a very thank you uh with a very good lawyer that that works with
• 134:30 - 135:00 profits and great council that works with profit as well so I want you to have questions and to to ask like good questions not the basic because the basic information you'll get from this book and also the ideas of the questions you might get in this book as well right so um for your benefit just read it at least a little bit at least somehow but you know get yourself
• 135:00 - 135:30 comm what's written there okay Um again any more questions about anything related to nonprofit world any more questions no questions so can a nonprofit hold antics and uh cryptos and if they can hold like can that be transferred crypto yeah of course y has crypto accounts and um we receive
• 135:30 - 136:00 payment from international students if they they need to pay in crypto we have crypto accounts however remember last time I said if you have a nonprofit and specifically if you have charity have policies for everything like if you want to have crypto for profit have policies how you use it uh if you use crypto as as currency or if you use crypto as investment like for example here in Canada crypto is legal but not every type of crypto for example USDT which is
• 136:00 - 136:30 used there but uh Tesla is not legal but USDC is legal so it's easier we originally we have the account in USDT now we have to switch to USDC and then you may immediately transfer the money to your account right so what our policy says that if we receive the payment in crypto we have to immediately transfer it to to our accounts in Canadian
• 136:30 - 137:00 dollars uh and we have agreement with some organization that does it uh maybe I told you the story that that we're starting from agreement with some organization in uh Europe in Holland or something like that and everything worked well and then at some point they said like for these two students we cannot transfer the money because their last name sound Russian to us my name also sound Russian so what
• 137:00 - 137:30 are you talking about and nothing to do so so we we finally switched to Canadian company that does it and everything's good but I highly recommend to you to use Canadian because the law is the same like for example in their country they say you we don't serve Russians what if it's a Russian born Canadian as myself for example i don't know whatever makes no sense in Canada uh so we switch to to this Canadian
• 137:30 - 138:00 organization fine now in our policy it it says we don't normally use crypto as investment but we can't use if our uh if our board decides so so that that's the point so the answer is yes you can have crypto you have to decide if you use it only as the payment method then just transfer it through crypto to your million dollar account and that's it or if you use as investment then again have
• 138:00 - 138:30 the policy because you'll have to explain all of this to your auditor when I talk to you okay then um any more questions it's a another question like what if there's an um old college or university and that's been donated to Yi how will you actually look at that talking about a real estate asset which has been donated to Y a building well
• 138:30 - 139:00 thank you and will that how will you structure now this the equation or how to manage that will all change it like looking at what income is required for that and will that be hold by the holding company or because no no no okay if somebody donates us real estate we don't get Mhm uh that's it so we will we will manage it look the the for profit we need the for
• 139:00 - 139:30 profit to to get mortgage first of all if something donated us this we don't need mortgage right we may get mortgage to buy something else this and that but if it's donated to Y we may create a for profit which will belong to Yi and transfer the real estate to that for profit that's doable and we we will probably probably do that on on the next session for the legal aspects i will explain to
• 139:30 - 140:00 you how to deal with the real estate all this stuff but do you know a university or college that wants to donate us real estate where not yet just tell us Joseph i have a very basic question uh professor Marat uh like how we've uh we've learned that um not for profofit is uh belonging to the uh society and not for to people and how do uh some
• 140:00 - 140:30 people uh you know get to say that hey I own a non for profit uh is it because they are the only voting members for the u code or or is it is it possible or is it legal or is it is it right or it's just a way of telling things just for what people say you you cannot own not for profofit no you can have a hold of of not for profofit the way how I explained it last time remember if you if you have two levels of membership and if you are first level member blah blah blah that's the only way and and I don't
• 140:30 - 141:00 know many people who use it uh so those people just chatting I guess if they're executive director then they're just executive director um yeah it's just whatever but some people say you you may say something as well okay anybody else against Silicon is there a way to find out nonprofits or charities that are winding down so at
• 141:00 - 141:30 some point of time you have nonprofits or charities uh they will wind down and uh dissolve soon is there a way to point them out yes i don't necessarily understand why do you need it your bet regry you your own it's not it's not the end of the world basically look at the assets which are available from them and probably use it okay so first of all how you find out those charities in in question you go to web website you look through the charities and see their financials if
• 141:30 - 142:00 they don't have any revenue for for the last few years and they're a good plan of yours um but if they have assets and they're about to be closed they they made donate they're asking like for example uh they may donate to to some other charity and ask something in in return who knows what right or they may just donate it was nice story by the way really funny story funny not funny with
• 142:00 - 142:30 one of the charities it's a church like old church but they didn't charge their membership okay so those who established this charitable organization the members the original members they they are not going there anymore for many many years okay but those who go there they don't pay membership fees and they don't register as members okay so at some point
• 142:30 - 143:00 uh something happened with the priest or I don't remember what so it was the question of selling the the building so all members came and said this is our building the new members said what are you talking about we're you know we're praying here every week we're paying for everything but and they're like who are you so they went to court and guess what was the the court's decision you understand the problem
• 143:00 - 143:30 right it's the official Yeah old registered members who are not paying membership fee for many years and new members who are registered members sorry Stephanie I interrupt you oh I was answering the same thing that you just said so the old members on the paperwork yeah yeah so asked to pay for it guess what was the court's decision i believe like the old members would own it and they asked to pay for the
• 143:30 - 144:00 membership fees which are over to you no probably the uh the court or the government would would would take a stake or try to run it yeah you'll be surprised the court's decision was just to close the charity not you and not you because those are not members anymore because they are not paying membership fees and these ones are not members because they're not
• 144:00 - 144:30 registered so no members for this organization so the court decided to close the charity so they had to find another charity and then donate uh the building of the church to another charity and then to take it from there so I guess uh the new members may find something i I don't know what have not done that's it's interesting so make sure all the paperwork is in order now like for example if I told you that um
• 144:30 - 145:00 in our bylaws it says that we have two level membership and member of first level is Dr are aggressive so do not be questioned right so who is the member okay and uh and members of of of the first level membership they don't have to pay membership fee okay so interesting situation but well known well in a not for profit world everyone
• 145:00 - 145:30 knows it uh Joseph I'm just curious to know uh profer who has the uh power to change uh who votes let's say we have a not for profofit where we have an established bylaw saying level one member is five of us here in this class and uh we vote the uh or one of us in the class and what is the way to actually change this rule who who has the authority to change that or is it the board the the board yeah so
• 145:30 - 146:00 you will decide what you want and then uh you ask a lawyer to put together the the wording and then register with sur this and that so members elect the board the board may decide to change the bylaws um but they uh basically the register about I'm not a lawyer let's ask uh that lawyer that lawyers that will come uh
• 146:00 - 146:30 for the round table because I'm to be honest I'm not sure let's put this way let's put let's postpone it until they come uh good question though okay anybody else yes so for example in term of Yeti Yeti never gets value on the business like we never no one can sell yet as okay now it's $50
• 146:30 - 147:00 million or they it never has a value yes is because it's a nonprofit organization it it has no value but it cannot sell yeah it's a monetary value so like for example if it's for profit and maybe after years you say okay I can sell that exactly that's why I'm saying you have holding company and your real estate and your intellectual property stays on a
• 147:00 - 147:30 holding on a forprofit holding company and not for profofit just operates it brings brings additional value to this now for example if I want to sell Yiddi which I don't want of course I could sell the building right and I can theoretically make that person a first level member for Yi and myself right not saying but I can manage so they will own the building and they'll be first level member meaning
• 147:30 - 148:00 that they appoint the board this and that but I'm not setting G itself it's impossible you just basically retire from Yeti if you don't want to work in Yi yeti even anymore someone else take your spot and Yeti is just contin no when I retire I retire somebody else will become president and that's it and but yeti is continuously working you just retire I just retired but your question was different I know
• 148:00 - 148:30 what if I want to sell then I can sell the building and I can make make that person buy this building first level member meaning it's works of collaboration right basically they'll have big influence okay so the value that the additional value gi has here I may add to the to to the valuation of the building right so for example if this building today like I don't know like $16 million let's say I
• 148:30 - 149:00 may say okay I sell it to you for $20 million and I make you first level member frequent today i hope you understand all this stuff well enough okay don't forget the feedback and I will see you next time on
• 149:00 - 149:30 the on the front look it up okay thank you see you later alligators