PhilanTech

PhilanTech

www.philantech.com

Dahna Goldstein, 35
Washington, D.C.

Though time may equal money, most nonprofit organizations are short on both. Dahna Goldstein hopes to help solve this problem. Her four-employee company, PhilanTech, developed and sells an online grants management tool to help both nonprofit organization and foundations manage the onerous administrative work associated with funding, which uses up roughly 13% of all grant money, according to the Center for Effective Philanthropy. Goldstein's technology helps recapture a chunk of that annual $4 billion not being spent on services and programs.

Her own company is rapidly capturing its own customers. It rang up about $100,000 in sales last year, and expects to hit $400,000 in 2009. But with a background in education technology and venture philanthropy, Goldstein initially planned to structure PhilanTech as a nonprofit. "I realized, though, that in order for it to be successful, it had to be self-sustaining. I didn't want to rely on outside funding," she says. "And I do believe in the power of business to solve social problemsand the responsibility it has to do so."