Company
Summit Impact fosters global change by stewarding resources and relationships for impact-driven leaders. They convene a diverse community of business leaders, academic experts, and creative storytellers to empower impact entrepreneurs through collective learning and collaboration. By cultivating a network of open-hearted, imaginative leaders who turn ideas into action, Summit Impact aims to create a more just and sustainable world.
Challenge
When we first engaged with the Summit Impact team, they were in the midst of transitioning from Summit Series to form an independent non-profit organization. They sought guidance on non-profit governance, particularly regarding the future relationship between the two entities after the spin-off.
Solution
To clearly delineate the relationship between the for-profit and non-profit entities, we negotiated and drafted a licensing agreement and resource sharing agreement. This established clear expectations and terms for how the two organizations would interact. Additionally, we put in place a governance structure that ensured Summit Impact operated in compliance with state and IRS regulations as well as its own ethical standards.
Impact
Since spinning off from Summit Series, Summit Impact has thrived as an independent non-profit. Our strategic counsel established optimal governance structures and policies to guide their transition, supporting Summit Impact’s successful launch. This enabled them to carry out their unique mission autonomously while maintaining a collaborative partnership with Summit Series. The organization can now execute its mission with full autonomy while still benefiting from its alliance with the affiliated for-profit entity.
