News from FedcapFedcap Welcomes ReServe as New Subsidiary
Fedcap and ReServe, two nonprofits dedicated to service and community impact, today announced they will combine.
Fedcap, founded in 1935, operates programs and businesses throughout the Northeast that generate $100 million in revenue, directly employ 1,800 people and annually serve more than 13,000. ReServe Elder Service, founded in 2005, connects skilled 55+ professionals with part-time work in nonprofits and government agencies in return for a modest stipend. ReServe joins Fedcap as a subsidiary operation, effective Oct. 1, 2012.
“Fedcap and ReServe both focus on leveraging human talent to effect the maximum possible community impact,” said Christine McMahon, Fedcap President and CEO. “The ReServe model recognizes 55-plus professionals for their tremendous resources and experiential capital, and transforms that value into service that benefits nonprofits and government agencies, and the people and communities they serve.”
ReServe has placed almost 3,000 ReServists in New York City and recently launched affiliates in Newark, Baltimore, Miami and Milwaukee, with Boston due to open this fall.
“Becoming part of Fedcap gives ReServe an enormous opportunity to bring this innovative program to every community in the country and offers ReServists even greater options for service,” said Mary Bleiberg, President of ReServe.
“Fedcap’s experience, skill and reach can facilitate strategic expansion to bring ReServe’s services to other locations,” said Jack Rosenthal, ReServe co-founder and Board Chairman. “We know of at least six cities eager to consider creating ReServe affiliates.”
This is the fourth combination in three years for Fedcap, which in 2011 combined with Wildcat Service Corp. and The Way to Work.
“Today’s environment places greater demands on nonprofits to utilize their resources more efficiently to carry out their missions,” said Fedcap Board Chair Mark O’Donoghue. “We are confident that the core values shared by Fedcap and ReServe will make this combination a success.”