Article: Entrepreneurial spirit paying off for Work Inc.

QUINCY - Jim Cassetta was worried about the economy long before the financial earthquakes of this past fall.

The president of Work Inc., a Quincy-based nonprofit that helps the disabled find jobs, knew that when hard times hit, his agency would suffer cuts in state grants and other revenue sources. Seeking some measure of financial protection back in 2004, he took a novel path: His nonprofit bought a for-profit company.

The purchase of Facilities Management & Maintenance, or FM&M, is paying dividends now. Profits from the "green" cleaning company have helped partially offset $1 million in state cuts in the Work Inc. $25 million budget.

After expenses, the company's revenues provide between ...

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