for profit, nonprofit and not for profit: which one is for me?
TRANSCRIPT
© 2015 The MITRE Corporation. All rights reserved.
Amy Fritz
For Profit, Nonprofit and Not For Profit: Which One Is For Me?
22 October 2015
Approved for Public Release; Distribution Unlimited. Case Number 15-2877
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About Me
BS in Aerospace Engineering from Boston University, 2008 MS in Systems Engineering from Johns Hopkins University, 2013 Been with MITRE since 2008, currently a Lead Systems Engineer I enjoy cooking, gardening, traveling and anything to do with
airplanes
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For Profit
Motivation is to create profit, to take in more money than it spends– Can be either privately or publically owed– Investors expect a return on investments– Owners can keep profit, spend some or all on business, or share with
employees, such as through profit sharing Make products, provide services or expertise Competitive, capitalist market
https://en.wikipedia.org/wiki/Chevrolet_Corvette
http://www.apple.com/iphone
http://www.boeing.com
http://www.ge.com/
http://disney.com/
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Nonprofit/Not For Profit
Terms typically used interchangeably – No legal difference
Not For Profit terminology can be used to distinguish from more traditional non-profits– Not necessarily charitable organizations made up of volunteers
Can earn a profit (income remainder after expenses), but….– Must be invested back into the organization to further achieve its purpose or
mission– Self-preservation, expansion, administrative, etc. – Limits on how much profit can be ‘carried over’ from year to year
Profits are not distributed to leadership/owners as bonuses or dividends
Typically called ‘foundation,’ ‘group’ or ‘organization’ rather than ‘business’ or ‘firm’
https://www.ted.com/talkshttp://ww5.komen.org/http://www.redcross.org/
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Similarities
Both critical to society Need good management and leadership to thrive
– New directions for growth– Motivate and inspire staff
Funding Success not guaranteed Grow and transform missions over time
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Understanding Federally Funded Research and Development Center (FFRDCs) Not for profit Private-sector resources that operate in the public interest
– Work closely with inherently governmental functions – Assist the government with long-term research and development– Conduct studies and analyses
Free of organizational conflicts of interest Cannot compete for work, except to operate an FFRDC Special access to government data and resources Must follow rules from the Federal Acquisition Regulation
– Enables the government to assign FFRDCs work that the government or commercial contractors can't do as effectively
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Subset of Current Administrators of FFRDCs (full list at www.nsf.gov/statistics/ ffrdclist/)
Department of Defense– The Aerospace Corporation– RAND Corporation– The Center for Naval Analyses
Corporation– Massachusetts Institute of Technology– The MITRE Corporation– Carnegie Mellon University– Institute for Defense Analyses
Department of Health and Human Services– The MITRE Corporation– SAIC- Fredrick
Department of Homeland Security– Analytic Services– The MITRE Corporation– Battelle National Biodefense Institute
Department of Energy– Iowa Stat University– U Chicago Argonne, LLC– Brookhaven Science Associates, LLC– Fermi Research Alliance, LLC– Battelle Energy Alliance, LLC– Lawrence Livermore National Security– Los Alamos National Security– Alliance for Sustainable Energy– UT-Battelle– Battelle Memorial Institute– Princeton University– Sandia Corporation, a subsidiary of
Lockheed Martin Corporation– Savannah River Nuclear Solutions– Jefferson Science Associates
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My Experience
Joined a FFRDC directly after my undergraduate degree– Didn’t really understand what an FFRDC was nor the role they played
Opportunities to provide solutions for some of our governments toughest problems– Rewarding to see your solutions helping others
Created prototypes and technology transfers– But never ‘actual products’
Can be challenging to define what I do on a day to day basis Compensation comparable to what someone at my level would be
making in the for profit sector
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Things to Consider
‘Ownership’ of product or system Timelines to field a product or system Compensation
– Amount, type (i.e. bonus vs salary vs stock options)– Relation to company earnings
Mission/goal Working environment
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BACK UP
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Today MITRE Operates Seven FFRDCs
National Security
Engineering Center
Center for Enterprise
Modernization
Judiciary Engineering and Modernization
Center
CMS Alliance to Modernize Healthcare
National Cybersecurity
FFRDC
Center for Advanced
Aviation System Development
Our sponsors benefit from our breadth of
experience
Homeland Security Systems Engineering and
Development Institute