Innovations in Philanthropy

New West Joins Entrepreneurs Foundation of Colorado

By Jonathan Weber , 8-13-08

Start-up companies aren't usually in a position to spend money on philanthropy, and New West is no exception. Happily, though, one of our investors, Boulder-based venture capitalist Brad Feld, has helped develop an innovative new way for companies like ours to get involved in community philanthropy even at an early stage. I'm delighted to announce today our membership in the Entrepreneurs Foundation of Colorado, which is affiliated with the national Entrepreneurs Foundation.

The concept is simple: entrepreneurial companies donate shares equal to about one percent of their equity to the Foundation. If the company is successful, those shares will have significant value and the Foundation will thus share in the success. Companies can designate preferred beneficiaries of the shares, and we've chosen the Missoula Community Foundation and the Idaho Community Foundation. We can't of course make any guarantees, but we hope our involvement with the Entrepreneurs Foundation of Colorado will eventually translate into meaningful support for these organizations.

Our thanks to Brad and everyone involved with the Entrepreneurs Foundation for their creativity and commitment in developing this concept. And please be in touch if you're interested in getting involved.

Like this story? Get more! Sign up for our free newsletters.