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AUSTIN SOCIAL VENTURE PARTNERS AWARD FIRST GRANTS TOTALING $117,000

Novel Philanthropic Organization Structured Around Venture Capital Model

AUSTIN, TX, September 1, 1999 – Austin Social Venture Partners (ASVP) today
announced that its premier round of grants, totaling $117,000, has been awarded to five central Texas organizations – Capital Area Mental Health Center, Knowbility, Inc., Living Books Literacy Center, Parents Anonymous, and SmartGrrls.

ASVP is a newly formed, Austin organization of technology professionals – partners – dedicated to developing focused, committed and effective community givers, says David Lunsford, ASVP Chairman and a founding partner. The group is modeled after venture capital partnerships: it pools resources, actively partners with organizations through teams that seek to provide business expertise in areas the organization most needs, and helps develop focused goals and measurable objectives for philanthropic activities, he says. "The goal of ASVP is to galvanize the technology community in Austin around an active – and early – tradition of philanthropy," says Lunsford, who is director of strategic investments at Dell Computer Corporation. "Many people in our region’s exploding technology community find themselves with the resources to give, but little knowledge of how to go about it. ASVP seeks to bridge that gap."

ASVP, founded by a small group of Dell Computer employees, has grown to more than 30 partners who are employees at Dell Computer, Powershift Group, SBC Communications, Rx.com, Centerpoint Ventures, and Xetex, as well as private community volunteers. The first ASVP grant recipients include:

1.$15,000 to Capital Area Mental Health Center, a provider of low-cost mental health care, for a community volunteer outreach program.

2.$22,000 to Knowbility Inc., an organization that provides access to educational and employment opportunities in information technology to people with disabilities, for educational programs about the need for and societal benefits of accessible IT, and to facilitate job placement for youth and adults with disabilities into IT related jobs.

3.$8,000 to Living Books Literacy Center, for reading camps that help students develop reading and analytical skills.

4.$22,000 to Parents Anonymous, an organization that provides programs to strengthen families and stop child abuse, for an education and awareness program.

5.$50,000 to SmartGrrls, an organization that provides educational programs for girls in math, science and technology, to help establish a technology center for girls.

To be eligible for an ASVP grant, organizations must be classified as 501(c)3 by the Internal Revenue Service and serve the Central Texas community. Preference is given to programs in the greater Austin area, which do not typically receive support from charitable organizations such as the United Way.

ASVP is the first organization in Texas to use the philanthropic model developed by Social Venture Partners of Seattle. Like its Seattle counterpart, which has contributed nearly $1 million since its start two years ago, ASVP will partner with its grant recipients and offer not only financial support, but also management guidance and long-term strategic, marketing and technical support – like venture capitalist firms work with start-up companies.

ASVP is partnering with the Austin Community Foundation, which administers the fund for the group. "The Austin Community Foundation is very excited to be a part of Austin’s first philanthropic effort based on the venture capital model," says Richard Slaughter, executive director of the Foundation.

ASVP operates a "virtual" office located at www.asvp.org. It is able to incur no
administrative costs through the generous support of www.bodhi.org, a private foundation dedicated to incubating non-profits, and through its partnership with the Austin Community Foundation.

ASVP seeks partners who are willing to commit at least two years to the organization. The suggested partner donation is $5,000 per year. The group plans to announce its second round of grants later this year.

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Copyright 2000, Austin Social Venture Partners




	Press Releases AUSTIN SOCIAL VENTURE PARTNERS AWARD FIRST GRANTS TOTALING $117,000 Novel Philanthropic Organization Structured Around Venture Capital Model AUSTIN, TX, September 1, 1999 – Austin Social Venture Partners (ASVP) today announced that its premier round of grants, totaling $117,000, has been awarded to five central Texas organizations – Capital Area Mental Health Center, Knowbility, Inc., Living Books Literacy Center, Parents Anonymous, and SmartGrrls. ASVP is a newly formed, Austin organization of technology professionals – partners – dedicated to developing focused, committed and effective community givers, says David Lunsford, ASVP Chairman and a founding partner. The group is modeled after venture capital partnerships: it pools resources, actively partners with organizations through teams that seek to provide business expertise in areas the organization most needs, and helps develop focused goals and measurable objectives for philanthropic activities, he says. "The goal of ASVP is to galvanize the technology community in Austin around an active – and early – tradition of philanthropy," says Lunsford, who is director of strategic investments at Dell Computer Corporation. "Many people in our region’s exploding technology community find themselves with the resources to give, but little knowledge of how to go about it. ASVP seeks to bridge that gap." ASVP, founded by a small group of Dell Computer employees, has grown to more than 30 partners who are employees at Dell Computer, Powershift Group, SBC Communications, Rx.com, Centerpoint Ventures, and Xetex, as well as private community volunteers. The first ASVP grant recipients include: 1.$15,000 to Capital Area Mental Health Center, a provider of low-cost mental health care, for a community volunteer outreach program. 2.$22,000 to Knowbility Inc., an organization that provides access to educational and employment opportunities in information technology to people with disabilities, for educational programs about the need for and societal benefits of accessible IT, and to facilitate job placement for youth and adults with disabilities into IT related jobs. 3.$8,000 to Living Books Literacy Center, for reading camps that help students develop reading and analytical skills. 4.$22,000 to Parents Anonymous, an organization that provides programs to strengthen families and stop child abuse, for an education and awareness program. 5.$50,000 to SmartGrrls, an organization that provides educational programs for girls in math, science and technology, to help establish a technology center for girls. To be eligible for an ASVP grant, organizations must be classified as 501(c)3 by the Internal Revenue Service and serve the Central Texas community. Preference is given to programs in the greater Austin area, which do not typically receive support from charitable organizations such as the United Way. ASVP is the first organization in Texas to use the philanthropic model developed by Social Venture Partners of Seattle. Like its Seattle counterpart, which has contributed nearly $1 million since its start two years ago, ASVP will partner with its grant recipients and offer not only financial support, but also management guidance and long-term strategic, marketing and technical support – like venture capitalist firms work with start-up companies. ASVP is partnering with the Austin Community Foundation, which administers the fund for the group. "The Austin Community Foundation is very excited to be a part of Austin’s first philanthropic effort based on the venture capital model," says Richard Slaughter, executive director of the Foundation. ASVP operates a "virtual" office located at www.asvp.org. It is able to incur no administrative costs through the generous support of www.bodhi.org, a private foundation dedicated to incubating non-profits, and through its partnership with the Austin Community Foundation. ASVP seeks partners who are willing to commit at least two years to the organization. The suggested partner donation is $5,000 per year. The group plans to announce its second round of grants later this year.
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