The Entrepreneurs Foundation of the Southeast, Inc. (EFSE) is a nonprofit organization comprised of entrepreneurs, venture capitalists, investment bankers, accountants, attorneys, bankers, consultants, corporate leaders and public relations and marketing firms who have come together to encourage entrepreneurs and their companies to support community needs.
The mission of EFSE is to continuously improve the quality of our communities by applying the energy, innovation, resources and wealth of entrepreneurial companies and their employees to support community needs. EFSE addresses the two resource constraints that early-stage companies face when evaluating their community involvement plans: lack of cash and lack of time. We are creating the critical link between entrepreneurial companies and their communities by providing innovative volunteer and fund raising programs.
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Discussing business over breakfast at the OK Café.
From Left: Wells Burke, CEO of Synthis; Andy Ibbotson, President of Synthis; Scott Geller, CEO of Invistics; Ricky Steele,
2004 Chairman of the Entrepreneurs Foundation of the Southeast (EFSE); Patrick Taylor,
President and CEO of Oversight Systems; Tom Knight, Chairman and CSO of Invistics; and Rhen Cain, President and CEO of the EFSE.
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EFSE provides the community relations function for a company at no charge to help establish its giving strategy and its volunteer programs and we accept donations of private equity (pre-liquidity event stock options) to create a donor-advised fund for the company. When there is a liquidity event (IPO or acquisition), we convert the donated stock options to cash for distribution to the nonprofit agencies and charities the company chooses. EFSE prepares the company to make its choices well in advance of the liquidity event by encouraging a culture of philanthropy through employee charitable giving committees and personal involvement with co-workers at volunteer events.
Through this unique blend of venture capital philanthropy and corporate volunteerism, the EFSE will have the following impact:
- Promote increased philanthropy among entrepreneurs and early-stage companies in EFSE communities
- Support the growth and efforts of selected nonprofit organizations through the donation of time and funds
- Demonstrate the maturity and generosity of the entrepreneurial and venture capital sectors by giving back to the community
- Encourage the next generation of social entrepreneurs
The Entrepreneurs Foundation of the Southeast is an independent organization that is affiliated with both the original and other Entrepreneurs Foundations. The original Entrepreneurs Foundation (EF) was launched in the San Francisco Bay Area in 1998. To date, the EF has signed on more than 100 high growth companies as participants and has realized more than $14 million in liquidity events. The EF also facilitated the donation of time and effort of some 9,000 employees to more than 90 Bay Area nonprofit organizations in 2004 alone. There are five additional affiliates in the Northeast, Southwest and Northwest plus Honolulu and Tel Aviv. The EFSE strives to have a similar impact within the Southeast region.
Improving communities through investment of time and funds by EFSE companies:
EFSE works with venture-backed and early-stage companies to help them create and tailor programs for community improvement. These programs help to establish a positive link between participating companies and the communities where their employees work and live.
As part of the program, EFSE receives a small equity contribution from each company, which is used to fund multi-year commitments to EFSE venture philanthropy investments, as well as for EFSE’s overall mission. Contributions vary, but typically are less than one percent of outstanding shares. Up to eighty-five percent of the equity contribution may be company-directed.
The communities and participating EFSE companies benefit greatly from these contributions. Not only are money and time infused into selected programs, but participating companies benefit through improved employee morale and pride, enriched corporate culture, an edge in recruiting and retention, increased positive visibility within the business community, and ultimately, a stronger community in which to work and live.
Investing in proven social entrepreneurs:
Just as the venture capital world invests in entrepreneurs with bold ideas, EFSE targets social entrepreneurs with dynamic visions for community involvement. EFSE believes leadership in the business world translates into success in community building efforts as well. EFSE supports the development of leaders and their organizations in the following ways: financially, with managerial advice and through help with strategic planning.
Building a better community involves everyone:
The EFSE business model also includes securing involvement from a broad scope of the entrepreneurial sector. This broader community includes venture capitalists, investment bankers, attorneys, accountants, bankers, consultants, corporate leaders, and public relations and marketing firms. EFSE will work with all of these groups to capitalize on their relative areas of expertise and optimize full support for nonprofit investments.
Vision:
The vision of the Entrepreneurs of the Southeast is to engage entrepreneurs and their companies in philanthropy early in their path to success and to make community involvement a core element of the culture and business philosophy of every company.
If you would like to get involved or learn more about EFSE, please contact Rhen Cain, President and CEO, at
(404) 817-6656 or rhen@the-efse.org or any member of our Board of Directors or Advisory Board.
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