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| April 08,
2004 · volume 5 · issue 4 |
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| Boys & Girls Clubs of Greater Washington
Latest VPP Investment Partner Venture Philanthropy Partners (VPP) has entered into an investment partnership
with the Boys
& Girls Clubs of Greater Washington (BGCGW), a multi-service youth
organization providing after-school academic enrichment and athletic activities
to 35,000 children throughout the National Capital Region. The merger has created a catalyst and urgency for change that, when combined with the organization's demonstrated performance, community support, and strong leadership and board, represents a remarkable opportunity for this investment partnership. We believe this partnership has the potential to improve the lives of thousands more children, and we are excited to work with Pat Shannon, Bill Eacho, and the rest of the board, as well as the dedicated management team and staff of BGCGW. |
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Calvary Negotiates Bond Deal
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| Investment Partners Host Spring
Events Latin American Youth Center Latin American Youth Center (LAYC) celebrated its thirtieth birthday on Thursday, April 1, with 250 friends, youth, families, and community supporters at the Marriott at Metro Center. The Fiesta de Cumpleaños was sponsored by the Freddie Mac Foundation, Fannie Mae Foundation, Verizon, Comcast, Telemundo, and Creative Associates International. The warm and festive tone of the event was set by a video produced by Telemundo filled with LAYC history and birthday wishes, a mariachi band, cake and ice cream from LAYC partner Ben & Jerry’s, and the powerful stories told by past and present LAYC clients about the impact the Center has had on their lives. DC Councilman Adrian Fenty (Ward 4) and members of Councilman Jim Graham’s staff (Ward 1) jointly presented a resolution recognizing LAYC’s 30 years of service to youth and families and proclaiming April 1, 2004, as Latin American Youth Center Day in the District of Columbia. Other community supporters in attendance included Mayor Anthony Williams, Sandy Dang of AALEAD, Sandy Jibrell of the Annie E. Casey Foundation, Rita Harmon of Fight for Children, Liz Reisner of Policy Studies Associates, Julie Rogers of the Meyer Foundation, and Tom Wells, DCPS Board of Education. LAYC Executive Director Lori Kaplan said, “The evening was a wonderful time to value and appreciate LAYC’s past 30 years while looking toward the next 30 years. The VPP strategic plan has provided the blueprint for our future success for years to come!” See Forever Child and Family Network Centers |
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| Bill and Patricia Melton: A Marriage
of Complements Theirs is the stuff that novels and movies are made of. William Melton and Patricia Smith Melton are a renaissance couple of sorts, combining their expansive interests and talents to build new networks they hope will influence the world. The couple became close friends while attending Westmar College, a small school in Iowa. They graduated and went their separate ways. Bill traveled extensively in the Far East before settling in Hawaii where he started several technology enterprises. Patricia lived primarily in Washington, DC, with seven years in a valley in Tennessee. She became a photographer, a playwright, and a broker of vintage quilts. They each married, raised children, and divorced. Thirteen years ago, they reunited. They live in a modern English Tudor home on a hillside outside Vienna, VA, filled with handsome art from around the world. And they have built a relationship based on mutual admiration and common goals. Bill, the son of a Nebraska preacher, studied psychology as an undergraduate and earned a graduate degree in Asian studies. He spent five years working in Vietnam and Taiwan and “being a young bum in Asia.” His Asian connections served him well in providing a manufacturing base for the telecommunications enterprises he started, including Verifone, the point-of-sale credit verification terminals used in most businesses today. He moved to Washington, DC, in 1986 to represent Verifone, which went public in 1991, and positioned himself to invest in a number of enterprises including Transaction Network Systems and AOL. In 1995 he started CyberCash, which created the back-end technology for commerce over the Internet. He sold that business to Verisign, became a quiet investor in other enterprises, and now sits on the boards of more than a dozen companies. Bill met VPP’s Mario Morino through The Capital Investors and was intrigued by the mission of the then new philanthropic organization. “I thought inner-city crises were in great need of attention and care, but I didn’t have the time or expertise to focus on those issues…(VPP) was a wholesale way for me to provide support.” Recently, Bill visited Heads Up with fellow investor Jack Davies and hopes to get to know other VPP investment partners as well. While Bill was building enterprises here and abroad, Patricia pursued
a variety of careers. She was a writer and photographer for the War on
Poverty of the Office of Economic Opportunity and also taught photography
for the Smithsonian Associates Program. She has written and produced several
plays, and her personal quilt collection is currently on a US tour with
the Smithsonian Institution Traveling Exhibitions. A second international incident prompted the creation of another Melton foundation. Patricia says that a few days after September 11, “I woke up and realized I needed to bring together a circle of women to figure out how women can be empowered to make peace happen.” She started contacting people she didn’t know to assemble a nucleus of women from around the globe who could frame the issues and opportunities for peace. A few months later PEACE X PEACE was born. “We define peace as more than the absence of violence,” says Patricia. “It must have substance—education, inclusion of everyone, financial equity, restorative (rather than retributive) justice, freedom of speech, and integrity in media.” She believes women are more inclined than men to befriend and support one another and are influenced by the need to create safe nurturing environments for their children. Women and children also have a tremendous stake in peace because they are by far the greatest casualties of war. The PEACE X PEACE (“peace by peace”) Global Network uses the Internet to connect circles of women in the U.S., one-to-one, with circles of women outside the US, providing the technology and translation services to enable these women to exchange information, educate, and support each other. Last month, for example, a group of women in California held a benefit that provided funding for a day-long Women’s Competitive Sports Day organized by their “Sister Circle” in Kabul, Afghanistan. Patricia hopes to raise funds to enable women in developing and war-torn countries to access the Web at cybercafés or rent computer time from local nonprofits in order to be in the Global Network. On June 11, 2004, PBS stations around the country will have a primetime airing of Peace by Peace: Women on the Frontlines, a documentary produced and directed by Patricia that highlights women in five nations engaged in the dangerous work of building peace and democracy. Patricia will spend much of this year promoting the documentary and raising the funds to extend the PEACE X PEACE Global Network, especially connecting women in the US with women in Muslim nations. “If you want peace, you have to invest in the commodities of peace—women. The work women do has not been recognized as the primary force in healing and reweaving cultures,” she says. Bill, who is an advisor to PEACE X PEACE says that “what Patricia is doing follows the path we’ve often talked about in evolving technology—the creation of a global village.” Together, they are trying to make that happen. |
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| Washington Scholarship Fund to Administer
DC Choice Incentive Program The US Department of Education and the Office of DC Mayor Anthony Williams announced that the Washington Scholarship Fund (WSF) was selected to administer the publicly funded scholarship program for K-12 DC students. Beginning in the 2004-2005 school year, the program will grant low-income students in the District up to $7,500 a year in tuition, fees, and transportation costs to attend private schools. WSF will disseminate information about the scholarships to all eligible families in the District of Columbia. WSF will work as the lead organization in a partnership with other local nonprofit groups, including Capital Partners for Education, DC Parents for School Choice, the Greater Washington Urban League, and the Parent Group. "Our organization was founded just over a decade ago with the goal
of expanding educational opportunities for District students. The new
DC scholarship program perfectly aligns with our mission to enable families
to have greater choice in where they send their children to elementary,
middle, and high school," said Joseph E. Robert, Jr., chairman of
the WSF Board of Trustees and a VPP investor. "We are gratified to
be making this progress toward our ultimate goal, to help all DC students—public,
charter, and private—get an education that is unsurpassed by what
is available anywhere in the nation." The Washington Scholarship Fund is currently the largest and oldest grantor of privately funded scholarships for K-12 students in Washington, DC. It was founded by a group of local business and community leaders to give low-income families expanded opportunities to choose schools and is governed by a board, the majority of whose members are residents of the District of Columbia. |
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| New Team Member Joins VPP Courtney Dunakin joins the VPP team on April 15 as investment support associate. She comes to VPP from Georgetown University, where she was senior director of the annual fund. She was responsible for raising current-use funds for the University, including the Law Center and Medical School, and also oversaw the mass marketing program (phone, mail, and online giving), which serves all of the annual fund units. Previously Courtney worked at Children’s Memorial Foundation in Chicago and the Council for Advancement and Support of Education (CASE). Courtney has a master’s degree in public service management from DePaul University and a bachelor’s in psychology from Denison University in Granville, OH. As investment support associate, her primary responsibility is to provide research, information collection, and document development in support of the investment process. Welcome, Courtney! |
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| Articles of Interest
on Funding and Financing Issues "Investing in Society: Why We Need a More Efficient Social Capital Market - and How We Can Get There" by Bill Meehan was published in the Spring 2004 issue of the Stanford Social Innovation Review. The first page of the article and subscription information for the journal are available online. Bill Drayton, president of Ashoka, identifies three strategic components to encourage investment innovation in "Needed: A New Social Financial Services Industry," published in the March 2004 issue of Alliance magazine. |
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If you have questions or comments about VPP News, please direct them to Cheryl Collins or Sandra Gregg © 2004 Venture Philanthropy Partners Privacy Policy |
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