Home | Education & Distance Learning Articles | Article

Center for Venture Philanthropy™ Unveils its Unique 5-Step Process of Successful Venture Philanthropy in New White Paper Report; Results-Driven Venture

PR Newswire - September 28, 2004

SAN MATEO, Calif., Sept. 28 /PRNewswire/ -- The Center for Venture Philanthropy (CVP), a division of Peninsula Community Foundation, today announced the release of a new white paper report -- Defining Virtue: Five Key Elements of Venture Philanthropy and Five Years of Documented Results. This document clearly sets forth the application of the CVP's Five key elements of venture philanthropy using real-world examples, each supported by impressive quantitative results.

CVP, formed in 1999, applies the venture capitalist model to the philanthropic sector to achieve positive social change in the same way a venture capitalist works to maximize the ROI in the for-profit sector.

"As a venture capitalist, I am excited to see our practices applied to the philanthropic sector," states Bill Unger, Partner Emeritus, Mayfield. "My colleagues and I were so impressed with the soundness of the CVP Venture Philanthropy model that we felt compelled to invest in the Raising A Reader(R) Social Venture Fund. I continue to invest each year as I see the dramatic positive results and observe CVP's ability to scale this great idea globally."

"The Center for Venture Philanthropy has allowed us to actively engage a large number of the local philanthropic community, joining forces with non-profit and government partners, to attack large-scale social issues facing the Bay Area and Silicon Valley," explains Sterling Speirn, President of Peninsula Community Foundation. "This report demonstrates the successes we have achieved with our many partners in just five short years."

The five key elements of practice frame the way CVP works with the philanthropist to generate the greatest social impact. These elements are:

1. Investment in a long-term plan for social change: Comprehensive plans for social change start with an audacious goal with an action plan to achieve it.

2. Managing partner relationship: All ground rules are set, including written agreements that define the roles and responsibilities of the participants - non-profit leaders, investors and CVP fund managers.

3. Accountability-for-results process: A rigorous methodology that holds participants accountable and delivers measurable results on a quarterly basis.

4. Provision of cash and expertise: CVP provides cash and critical expertise -- subject matter specialists, investor forums, evaluation expertise, etc. -- all necessary to tackle the biggest social issues.

5. An exit strategy: A unique exit process is created for each fund, making possible shared responsibility for sustained change.

The Defining Virtue white paper report presents "In Practice" case study examples from participants in the three CVP Social Venture funds to demonstrate the application and results of each key element. The results presented across the five elements include:

6. Raising A Reader: This early childhood literacy program uses multi- cultural, read-aloud strategies and a book-bag distribution to low-income households with children, ages 0-5, to increase kindergarten readiness. The program shares early brain research with parents and shows them how to engage in "book cuddling" even when they cannot read themselves. Raising A Reader has scaled from one location in San Mateo County to 66 affiliates across 22 states and four nations. Studies show a 471% increase in parents reading to their children, and that Head Start children enter kindergarten at more than double the national norm in knowledge of print concepts.

"We have introduced Raising A Reader as a central early-education cornerstone to many of our programs in the Bay Area, including pre-school classes, a low-income housing center, and in the near future, a senior center for multi-generational reading. Early literacy is the child's lifeline out of poverty, and Raising A Reader provides a proven method to make a great difference to thousands of children."

Jane Hills, Catholic Charities Coordinator of Raising A Reader

7. Environmental Solutions Forum: This Social Venture Fund works to strengthen the capacity of 15 environmental education organizations dedicated to building individual and corporate environmental stewardship of the San Francisco Bay ecosystem. Through a three-year plan with guaranteed investment, each participating organization had met its milestone within the first year.

"The CFP venture fund provided the framework that helped Save The Bay achieve a dramatic goal. Within a year we were able to build a new plant nursery and mobilize 4,000 volunteers to grow 10,000 native plants annually. Volunteers are sowing these plants right into San Francisco Bay wetlands to restore critical habitat for fish and wildlife. The fund helped Save The Bay expand our capacity to involve the community in restoring their Bay for decades to come."

David Lewis, Director, Save The Bay

* Assets for All Alliance(TM): This first CVP Social Venture Fund features a six-year plan to move people out of poverty by enrolling in Individual Development Accounts (IDAs) through which participants acquire one of three assets: a home, a small business or a college education. Since 2001, participants in the Bay Area program have obtained 555 assets, including 90 homes and 252 college degrees.

"Our experience working with the Center for Venture Philanthropy to take the Individual Development Account concept to scale was very positive. The high number of assets achieved demonstrates the success of the program's results-oriented strategy. The CVP staff kept all Alliance partners focused on the end results and provided critical expertise when needed."

Eric Weaver, Director, Lenders For Community Development

The CVP venture philanthropy model has received several organization awards, including a just-announced prestigious Innovation Award from the Washington D.C. poverty think-tank, Corporation for Enterprise Development. "This award recognizes the impact of Assets For All Alliance on a national level," states Carol Gray, Executive Director, CVP. "We have developed a Collaborative IDA Toolkit that has become the national template for regions who want to develop this approach to addressing poverty."

To obtain a copy of the Defining Virtue white paper please call 650-854-5566.

About the Center for Venture Philanthropy

The CVP was launched in 1999 to create an environment where community donors could collaborate and drive positive change in our communities. Using a venture capital model, investors base "social venture funding" on results- oriented business plans. Investors work directly with the CVP staff and nonprofit leaders to understand community and nonprofit issues, problem-solve, and structure their investments. The CVP's first Social Venture Fund, the Assets for All Alliance, has won national recognition for its anti-poverty efforts and leads the country in terms of documented results. The Raising A Reader venture fund, which provides take-home book bags and children's books to encourage early literacy, continues to expand its local and national outreach, garnering praise from child development experts. For more information call 650-854-5566 or visit http://www.pcf.org/cvp.

About Peninsula Community Foundation

2004 marks Peninsula Community Foundation's 40th year of connecting people, ideas and resources for the common good across the community. Recently recognized as Outstanding Foundation/Community Grantmaker, PCF holds assets of over half a billion dollars, including a $110 million Community Endowment. The Community Endowment fund has provided over $400M in direct community grants funding over the past 40 years. A leader in driving innovative philanthropy, PCF responds to the changing needs of the community in the areas of children and families, education, housing, health and human services, the environment and the arts. PCF divisions and initiatives include the Center for Venture Philanthropy(TM), the Peninsula Partnership for Children, Youth and Families(TM), and the Peninsula Nonprofit Center(TM). More information on Peninsula Community Foundation and its award-winning programs can be found at http://www.pcf.org/ or by calling 650-358-9369.

NOTE: Peninsula Community Foundation and Raising A Reader are registered trademark and Center for Venture Philanthropy and Assets for All Alliance are trademarks of the Peninsula Community Foundation.

CONTACT: Lynn Anderson of Peninsula Community Foundation, +1-650-581-4368, or landerson@pcf.org

Web site: http://www.pcf.org/

1 2 Next »

If you would like to discuss any of the issues raised in this article with hundreds of other Education & Distance Learning enthusiasts from around the world, please feel free to visit the discussion forums & post a message.

Discuss this article in the discussion forums now.

Popular Education & Distance Learning Discussions From The Past

EMAIL PROCESSORS WANTED (1 posts)
by Shane Arnold - Last post on: 01-18-04 21:22
HELLO, I REPRESENT AN EMAIL PROCESSING COMPANY THAT IS LOOKING FOR EMAIL PROCESSORS IMMEDIATELY, TO SUSTAIN EXPLOSIVE GROWTH. EARN $1000 AND MORE MONTHLY ON A PART-TIME BASIS. NO EXPERIENCE NECESSARY ALL ONLINE TRAINING IS PROVIDED. SEND AN EMAIL TO shanearnold@emailaccount.com WITH "EMAIL... (Read More)

Expert offers Training at no cost! (1 posts)
by Deden Nugraha - Last post on: 10-05-04 00:59
Dear Friends, You need to know about a step-by-step system which will show you how to build a successful online business from home. And the best part is, it's totally F*REE! That's right! You can get 30 days of intensive free training from an expert. This is someone who has been making ... (Read More)

Who moderates this forum? (1 posts)
by James Clifton - Last post on: 08-29-03 15:21
Who moderates this forum? ... (Read More)

Re: Warning about Doctor (6 posts)
by yournamehere - Last post on: 10-04-03 15:38
Hamlet wrote in news:ggivkv0020dh503amn2qnslg6auhafb34t@4ax.com: > First off, before you begin making accusations, you should have some > basis for them. From what source do you get this claim and why did > you decide to share? I for one hate blanket statements like yours and > believe th... (Read More)

You must register before posting in the Education & Distance Learning discussion forums. It's free & only takes a few seconds. Please also remember that no advertising is allowed...
Enter The Forums Here