Entrepreneurs Foundation of New Mexico
The Idea:
New Mexico has a vibrant and rapidly growing entrepreneurial community. A study released in 2008 by PricewaterhouseCoopers and the National Venture Capital Association found that New Mexico had the #1 rate of growth in the USA for venture-backed entrepreneurship from 1997 to 2007. This sector has faced the economic downturn with remarkable resilience, and we believe that any strategy for addressing the cultural and economic needs of New Mexico cannot fully succeed without better integrating the entrepreneurial business sector into the philanthropic and non-profit communities in our state.
Entrepreneurial businesses have key skills and resources that can enrich our community and are currently under-leveraged. As effective community programs are in their best interest, their investments should be strategic and innovative as any other aspect of their business.
Our Mission:
Our mission is to become the premiere organization promoting policies of community involvement and philanthropy within the entrepreneurial sector through logical, thoughtful partnerships between entrepreneurial businesses and specific non-profit agencies.
Our Approach:
The core of our strategy is to capitalize on the growth of New Mexico’s entrepreneurial business sector by engaging those companies both financially (by donating cash and equity) and their employees formally into the New Mexico philanthropic community, along with creating opportunities for participation by individual donors.
Our 2010 Priorities:
° securing cash support for our operating budget
° securing stock grants for our “endowment”
°confirming the structure of donor-advised funds and 501c(3) logistics with specific community foundations,
° identifying a single non-profit (through our partners) to assist with cash and entrepreneurial support.
Why Entrepreneurs Should Care About Philanthropy:
Winning companies not only have great products and services, but also strong organizational cultures and a commitment to their stakeholders; including their community. Additional benefits include:
° Building a corporate culture based on “giving back”
° Creating partnering opportunities with customers
° Improving recruiting and retention results
° Providing internal leadership development opportunities
° Differentiating your company – internally and externally
° Increasing your community visibility and reputation
Membership Benefits:
° Networking with other like-minded entrepreneurs through EFNM’s “Members Only” LinkedIn Group
° Quarterly and annual events featuring expert speakers
° Use of EFNM logo on your web site and collateral
° Resources for company and individual giving, employee volunteerism, and customized philanthropy programs.
Profile of the National Entrepreneurs Foundation:
° 501 © (3) not for profit organization founded in 1998
° 801 community organization partners
° 30,000 member employees involved in philanthropy
° $25 million contributed in cash and in-kind donations
°Website with open resources at www.efbayarea.org
How to Get Involved with the EFNM:
° Become a charter member and/or sponsor of EFNM
° Introduce EFNM to your portfolio companies
° Introduce EFNM to other entrepreneurs
° Partner with EFNM to develop or accelerate your community giving and employee involvement programs
° Contribute to EFNM through equity, cash, or involvement through our advisory board
How EFNM Will Measure Success:
° Number of participating companies and individual members and volunteers
° Annual increase in funding and volunteer hours
° Dollars leveraged with other philanthropic funding
° Results of our annual membership survey
° Dollars and number of direct and indirect volunteer hours invested in a specific nonprofit by EFNM
The National Entrepreneurs Foundation Includes:
Trevor Loy, Flywheel Ventures
EF New Mexico
Richard Agnich, Texas Instruments
EF North Texas
Gilles Attia, DLA Piper Rudnick Gray Cary
EF Capital Region
Rick Burnes, Charles River Ventures
EF New England
John Dean, Startup Capital Ventures
EF Hawaii
Brad Feld, Foundry Group
EF Colorado
Yadin Kaufmann, Veritas
Tmura (EF Israel)
Hugh Mackworth, SmartForest
EF Northwest
Bill Bock, Centerpoint Ventures
EF Austin
Larry Orr, Trinity Ventures
EF Bay Area
Debra Engel
EF Bay Area
Why Philanthropy is Good for Business:
91% of Americans say that they have a more positive image of a product or company when it supports a cause.
86% of Americans say that when price and quality are equal, they will reward companies that support a cause with their business.
85% polled say a company’s commitment to a social issue is important when deciding which products and services to recommend to other people.
81% of corporations use employee volunteering programs as a resource for achieving strategic goals.
81% of companies use employee volunteering programs as directly affecting their bottom line.
70% of Americans say a company’s commitment to a social issue is important when they decide which stocks or mutual funds to invest in.
72% Americans felt that, when deciding between two job opportunities, they would prefer to work for a company that “supports a charitable cause,” if location, employment responsibilities, salary and benefits were the same.
69% of Americans say corporate citizenship is important to their trust in a business.
Sources: 1) 2004 Cone Corporate Citizenship Study: Building Brand Trust, APCO 2004 Corporate Social Responsibility Study, 3) Non-Profit Times, 4) Points of Light Foundation, 5) Deloitte Study
For more information:
Mark Walztoni
Executive Director – EFNM
341 East Alameda Street
Santa Fe, New Mexico 87501-2229
505-603-5810
mark@efnewmexico.org