Submitted by Raffa-Marcum’s Nonprofit & Social Sector Group
In response to the growing needs of social impact investors, Raffa, the nation’s largest nonprofit accounting and consulting firm, has launched Raffa Social Capital Advisors (RSCA). RSCA will support social entrepreneurs seeking investment while providing impact investors much-needed data and accountability they have long sought.
“Social entrepreneur start ups too often fail for the lack of ongoing strategy and successful back office services. We uniquely can help these new businesses be accountable to their investors,” said Tom Raffa, CEO of Raffa, P.C. and one of the principals of RSCA. “We are helping match investors with the social entrepreneurs we are vetting and coaching so that both the companies can succeed and the investors can see a return – in profits and in impact.”
Social entrepreneurs who make it through the vetting process should receive an investment of $500,000. RSCA is preparing to launch its first online application for entrepreneurs looking to connect with these investment dollars and the coaching from RSCA staff that is part of the process.
"Raffa Social Capitol Advisors' model incorporates the power of competitions, resources of an incubator and impact investing into one complete package," added Raffa.
To lead this effort, Raffa P.C. is engaging Rich Tafel, CEO of Public Squared to become the Managing Director of Raffa Social Capital Advisors. Tafel has personally provided game changing strategy to more than 500 social entrepreneurs around the world. He has a personal track record of successfully leading major social change. In 2013, Tafel provided strategy for the nation’s first statewide social entrepreneur competition held in Michigan. He repeated this model a year later in Southern California in 2014. Tafel will provide strategy and investor relations and oversee coaching for all investments. Tafel is a frequent contributor to Stanford Social Innovation Review and is a graduate of Harvard Divinity School.
“I’m excited to be play a leadership role at Raffa Social Capital Advisors, as part of the family of Raffa, P.C. Raffa is uniquely qualified to provide what is too often missing for start-ups: the back office support and management consulting that can really make a difference in helping a new business take a good idea and make it a reality,” said Rich Tafel. “Investors who seek metrics and feedback from social entrepreneurs will find the Raffa model unique in the social change field. It’s time to move the social entrepreneur movement beyond a ‘good story.’”
About Raffa Social Capital Advisors
Raffa Social Capital Advisors, led by Tom Raffa and Rich Tafel, is matching social impact investors with social entrepreneurs who can successfully transform the world. RSCA vets potential businesses using a seven-step process and matches businesses they feel can succeed with interested investors. Businesses who are matched with investors receive a stipend, hands-on coaching and back-office support to help their idea become a reality. More information can be found at raffa.com/rsca.
Founded in 1984, Raffa is an accounting, consulting and technology firm based in Washington, D.C. dedicated to service and community. As a B-Corp certified, national Top 100, “Best of the Best” CPA advisory firm specializing in nonprofits and socially-responsible businesses, Raffa provides support to help organizations across the country effectively and efficiently manage their most critical processes. The firm’s highly specialized professionals provide planning, consulting and compliance services to corporations, entrepreneurs, families, nonprofits and social enterprises. Offering a deep bench of expertise across an array of services, including accounting and tax, human resources, technology and consulting, Raffa’s client-centric, customized approach helps each client meet its potential and ensures each client’s success is sustained and maintained. Learn more at www.raffa.com.
Raffa - Marcum’s Nonprofit & Social Sector Group’s strength and competitive edge lies in the fact that we provide expertise and superior service across a variety of essential interrelated financial, technology and consulting competencies. By embracing our client's vision and leveraging all of our talents, passion and resources to empower our clients, Raffa - Marcum's Nonprofit & Social Sector Group is able to fulfill its corporate mission to serve as a catalyst for positive systemic change in the community. Looking for the perfect interim CFO to help your organization address compliance requirements? Would it help to have external staff manage and provide your HR services? Would solid audit preparation, timely and accurate financial statements or new Federal Form 990 support help put your Board at ease? Is your organization ready to upgrade its accounting software or optimize its network performance? As your go-to-partner for compliance and operational excellence, Raffa - Marcum’s Nonprofit & Social Sector Group can help your organization manage all of your critical back office functions and free you up to remain focused on your mission. Services include: Accounting, Audit, Consulting, Employee Benefit Audits, Social Capital Advisory, and Tax.