Austin Social Venture Partners | News and Events

Press Releases

AUSTIN ENTREPRENEURS FOUNDATION FORMS ALLIANCE WITH AUSTIN SOCIAL VENTURES PARTNERS

Austin Non-Profits Will Work Together To Complement Efforts

Austin, TX—December 12, 2000—Austin Entrepreneurs Foundation (AEF) today announced its partnership with Austin Social Ventures Partners (ASVP). The two organizations will work together, complementing each other’s efforts and strengths. They will co-market their programs and services as effective channels that allow for the entrepreneurial community in Austin to take an active role with local non-profits.

In 2001 the organizations will co-sponsor a number of events that will raise awareness in the high tech community about the benefits of community involvement.

"AEF has recruited more than 80 donor companies since our inception," said Elaine Wetmore, CEO of AEF. "We strive to work with the company as a whole, helping that company align its donations to the Austin community with its corporate culture. All of AEF’s donors understand that their actions will help preserve the quality of life that drew them to Austin."

AEF helps pre-IPO corporations become philanthropically involved in Austin. AEF accepts donations of stock, prior to a company’s initial public offering (IPO) or its acquisition by a public company. Once a company has its "liquidity event," AEF will work within SEC guidelines and convert the stock into cash. The Austin Entrepreneurs Foundation’s approach is to work in tandem with a company, serving as their virtual communication relations department. The AEF will help build a relationship with the non-profit organization that will receive cash donations based upon the donor company’s converted stock.

In contrast, the ASVP works with individual philanthropic investors and their personal philanthropic interests, separate and apart from the companies where the investors work. The organization consists of business professionals, many are from Austin’s high-tech community and are committed to building a focused, effective hands-on community of givers.

"Our organization is based on the venture capital model of hands-on, value-added investing," said McKeever Darby, executive director of ASVP. "We serve as angel investors, actively nurturing non-profit investees with our financial backing, business expertise and guidance. We also aim to influence more non-profits to be run like efficient businesses, determining accountability from measurable results gauged in other ways than dollar amounts."

ASVP will work with a non-profit organization to determine the metrics that account for the value of their involvement.

Innovative uses of technology will be recognized and are part of the criteria ASVP looks for in a non-profit recipient. ASVP currently has 75 individual partners and plans to increase this number to 200 by the end of 2001.

Both AEF and ASVP organizations work in partnership with the Austin Community Foundation to process grants and perform other back-office functions. ASVP is a donor-advised fund of the Austin Community Foundation.

ABOUT AUSTIN ENTREPRENEURS FOUNDATION (www.takestock.org)
Austin Entrepreneurs Foundation encourages and facilitates a culture of stakeholding between the entrepreneurial and non-profit communities in Central Texas. The Foundation establishes donor-advised funds for emerging high-growth, high-tech companies by accepting gifts of stock options. Upon liquidity, proceeds from the sale of the options are available for charitable grant making. The Austin Entrepreneurs Foundation helps companies promote local presence, maximize involvement, gain recognition, promote Austin, unite organizations and improve the community.

ABOUT AUSTIN SOCIAL VENTURE PARTNERS
Austin Social Venture Partners (ASVP) consists of business professionals from Austin's high-growth sectors who are committed to building a focused and effective community of givers. Using the venture capital model, ASVP and its Partners share their financial success and business expertise with the nonprofit community.

The rapid growth of business and technology firms in the Central Texas region has given rise to a new wave of philanthropy fueled by social entrepreneurs. These business professionals have achieved financial success and are now ready to share their time, talent, and money with the community at large.

Contact:

Elaine Wetmore, Austin Entrepreneurs Foundation
(512) 494-7295
elaine@takestock.org

Anne Tiedt, TateAustin
(512) 344-2015
atiedt@tateaustin.com

Contact Us | Site Map

Copyright 2000, Austin Social Venture Partners




	Press Releases AUSTIN ENTREPRENEURS FOUNDATION FORMS ALLIANCE WITH AUSTIN SOCIAL VENTURES PARTNERS Austin Non-Profits Will Work Together To Complement Efforts Austin, TX—December 12, 2000—Austin Entrepreneurs Foundation (AEF) today announced its partnership with Austin Social Ventures Partners (ASVP). The two organizations will work together, complementing each other’s efforts and strengths. They will co-market their programs and services as effective channels that allow for the entrepreneurial community in Austin to take an active role with local non-profits. In 2001 the organizations will co-sponsor a number of events that will raise awareness in the high tech community about the benefits of community involvement. "AEF has recruited more than 80 donor companies since our inception," said Elaine Wetmore, CEO of AEF. "We strive to work with the company as a whole, helping that company align its donations to the Austin community with its corporate culture. All of AEF’s donors understand that their actions will help preserve the quality of life that drew them to Austin." AEF helps pre-IPO corporations become philanthropically involved in Austin. AEF accepts donations of stock, prior to a company’s initial public offering (IPO) or its acquisition by a public company. Once a company has its "liquidity event," AEF will work within SEC guidelines and convert the stock into cash. The Austin Entrepreneurs Foundation’s approach is to work in tandem with a company, serving as their virtual communication relations department. The AEF will help build a relationship with the non-profit organization that will receive cash donations based upon the donor company’s converted stock. In contrast, the ASVP works with individual philanthropic investors and their personal philanthropic interests, separate and apart from the companies where the investors work. The organization consists of business professionals, many are from Austin’s high-tech community and are committed to building a focused, effective hands-on community of givers. "Our organization is based on the venture capital model of hands-on, value-added investing," said McKeever Darby, executive director of ASVP. "We serve as angel investors, actively nurturing non-profit investees with our financial backing, business expertise and guidance. We also aim to influence more non-profits to be run like efficient businesses, determining accountability from measurable results gauged in other ways than dollar amounts." ASVP will work with a non-profit organization to determine the metrics that account for the value of their involvement. Innovative uses of technology will be recognized and are part of the criteria ASVP looks for in a non-profit recipient. ASVP currently has 75 individual partners and plans to increase this number to 200 by the end of 2001. Both AEF and ASVP organizations work in partnership with the Austin Community Foundation to process grants and perform other back-office functions. ASVP is a donor-advised fund of the Austin Community Foundation. ABOUT AUSTIN ENTREPRENEURS FOUNDATION (www.takestock.org) Austin Entrepreneurs Foundation encourages and facilitates a culture of stakeholding between the entrepreneurial and non-profit communities in Central Texas. The Foundation establishes donor-advised funds for emerging high-growth, high-tech companies by accepting gifts of stock options. Upon liquidity, proceeds from the sale of the options are available for charitable grant making. The Austin Entrepreneurs Foundation helps companies promote local presence, maximize involvement, gain recognition, promote Austin, unite organizations and improve the community. ABOUT AUSTIN SOCIAL VENTURE PARTNERS Austin Social Venture Partners (ASVP) consists of business professionals from Austin's high-growth sectors who are committed to building a focused and effective community of givers. Using the venture capital model, ASVP and its Partners share their financial success and business expertise with the nonprofit community. The rapid growth of business and technology firms in the Central Texas region has given rise to a new wave of philanthropy fueled by social entrepreneurs. These business professionals have achieved financial success and are now ready to share their time, talent, and money with the community at large. Contact: Elaine Wetmore, Austin Entrepreneurs Foundation (512) 494-7295 elaine@takestock.org Anne Tiedt, TateAustin (512) 344-2015 atiedt@tateaustin.com
Contact Us \| Site Map Copyright 2000, Austin Social Venture Partners