A recent article in the Denver Post suggested that startups that want to be engaged in their local communities as they grow and prosper should actually include “philanthropy in their DNA” from the very start. According to the article, when an emerging startup begins with a culture of giving and community involvement, it “enhances recruitment, productivity, sales and ultimately the bottom line,” while also helping to build a stronger community.
At OEN, many of the early-stage companies that come through our doors embrace this spirit of philanthropy, and several participate in OEN’s Entrepreneurs Foundation (EF) program – which was specifically designed to enable companies to donate equity now that can generate future giving when the company is successful.
We recently tallied up the results of the companies participating in OEN’s EF program in 2012, and are pleased to share the total return to the community last year – including dollars generated by three company exits and volunteer engagement activities.
2012 Community Impact:
In 2012, OEN EF member companies returned over $900,000 to the community in dollars raised, volunteer hours served and goods and services delivered by our member companies. Included in this amount is over $280,000 generated from the successful exits of program partners Jive Software, Kryptiq and Payless Long Term Care Pharmacy. Since its inception, OEN’s EF program has contributed $10 million worth of charitable donations and services back to the community.
Local organizations supported by OEN EF member companies included: School House Supplies; First Robotics; Friends of Tryon Creek, Blanchet House, SOLV; Rebuilding Together Portland; OPB; Oregon Food Bank; Ronald McDonald House, Doernbecher Children’s Hospital; Community Warehouse; Saturday Academy, NAMI Oregon, Central City Concern + more.
If you are interested in building a culture of philanthropy at your startup, we’d be more than happy to tell you more about how OEN’s EF program can help. Contact Anne van der Linden (firstname.lastname@example.org).