Austin Social Venture Partners Closes

For Immediate Release

ASVP Contact: Josh Pottinger

Phone: 512.469.3431

October 3, 2005 – After seven years, during which time it made grants totaling $680,000 and provided strategic advisory services on a volunteer basis to 22 local nonprofit agencies, the board of Austin Social Venture Partners (ASVP) decided to close down operations effective October 7, 2005, and move on to other endeavors. While the SVP model of engaged philanthropy has been well-received in other cities, the Austin group struggled for the past five years to regain membership lost during the economic downturn of 2000-2001.

With the organization’s closing, a number of ASVP members have chosen to get involved with Charity Partners of Austin (CPA), another local philanthropic organization that was founded by several members of ASVP earlier this year. CPA produces music and artistic events and donates the proceeds to local nonprofit agencies through a competitive grant process similar to the one used by ASVP. For more information on CPA, visit the organization’s web site at www.charitypartnersofaustin.org; contact information is available on the web site.

Launched in 1998, ASVP was part of an expanding international movement which has chapters in more than 20 cities currently. The SVP model catalyzes social change at two levels. Agencies benefit from SVP members’ significant professional expertise in driving business and organizational success. At the same time, SVP members have the opportunity to engage with the nonprofit community in a way that makes optimal use, not just of their money, but also of their individual time availability and skill sets.

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