Bank of North Carolina has made a $10,000 donation to United Way of Randolph County to help establish a nonprofit incubator in Asheboro. The nonprofit incubator, which will be established in a building opportunely located next door to United Way headquarters on South Cox Street, will have space for a meeting room and offices for four or five nonprofit agencies. United Way Chief Professional Officer Elizabeth M. Mitchell expects the office space to be available for occupancy by mid-July.

Sharing space not only allows nonprofits to save money, it provides them with the opportunity to network with other agencies and work more closely with United Way, thereby fostering a more efficient and effective organization. Nonprofit incubators help nurture and facilitate the development of young nonprofits by providing shared office space and equipment, offering nonprofit management assistance in areas such as grant writing and accounting and also mentoring nonprofits as they grow and serve the community.

“From the inception of plans for a nonprofit incubator, Bank of North Carolina has been eager to get involved,” explains Mike Whitehead, Bank of North Carolina’s area executive for Randolph County. “We are excited to make a significant contribution to United Way of Randolph County and the nonprofit organizations that selflessly enrich our community.”

Bank of North Carolina has 62 locations in North Carolina, South Carolina and Virginia.