SOURCE: San Diego Social Venture Partners

November 28, 2006 17:29 ET

San Diego Social Venture Partners Announce $1 Million Philanthropic Fund to Tackle San Diego's Environmental Challenges

San Diego City Leaders Announce Support for the New Fund to Improve County's Water Quality

SAN DIEGO, CA -- (MARKET WIRE) -- November 28, 2006 -- San Diego Social Venture Partners (SDSVP) today announced the formation of a new $1 million philanthropic fund focused solely on identifying and helping to create sustainable solutions to San Diego County's environmental challenges. Called, "The Environment Accelerator Fund (EAF)," it will enable local non-profits to build management capacity, fund necessary studies and research, build coalitions across multiple sectors, and fund the most cost-effective environmental programs. The EAF will focus initially on the issue of clean water, which includes ocean pollution, beach closures, and a safe drinking water supply.

SDSVP will manage the Fund and coordination of a coalition of organizations that includes: the University of San Diego, The San Diego Foundation, the San Diego City Government, San Diego businesses, and a range of non-profit organizations and funding sources. This cross-sector coalition will ensure EAF operates in the best interest of the entire region. SDSVP is a six year-old group of philanthropic investors who pool their own money and expertise and raise contributions from others, in order to affect social change in the San Diego area.

The new Fund has earned bi-partisan endorsement from San Diego civic leaders, Mayor Jerry Sanders and San Diego City Council President, Scott Peters.

"I fully support the actions of SDSVP and the supporting companies that are proactively organizing and fundraising to preserve our region's most important natural resources and ensure the finest quality of life for generations to come," said Mayor Sanders.

"San Diego's philanthropic community is maturing as the City itself grows up. As SDSVP partners we can support outcome-based approaches and targeted giving that are certain to enrich our region and culture," stated Scott Peters. SDSVP's unique philanthropic model and track record of success inspired Peters to personally become a partner in the organization.

The EAF has already raised $400,000 towards its $1 million total from the Orca Fund and the Contorer Foundation. SDSVP will raise the remaining funds from corporate and private donations through the end of 2006. Selection of the organizations to receive funding from EAF will begin in early 2007. President of the Contorer Foundation and SDSVP board member, Aaron Contorer said, "San Diego has seen unprecedented growth in the last decade, but funding for our environment has not kept pace. The Environment Accelerator Fund will support effective groups that protect San Diego's prosperity and health. As a businessperson I am proud to participate."

San Diego Social Venture Partners, winner of the Fast Company 2005 Social Capitalist of the Year Award, connects accomplished individuals who pool their own money and expertise to help non-profit organizations maximize their social impact and effectiveness. Last year alone, total contributions, both internally and externally leveraged funds, totaled $2.2 million -- that included more than 7,000 hours of volunteer time contributed by partners. Recipients of prior contributions by SDSVP include the Human Development Foundation, Junior Achievement, the Youth Empowerment Services (YES), Excellence in Justice in Education, Second Chance, San Diego Coast Keepers, the Sierra Club-Canyons Campaign and most recently La Cuna and Angels Foster Family Agency. This new fund will operate in addition to the other funds and continuing work by SDSVP in the San Diego community.

For information on making a contribution to the Environment Accelerator Fund, and joining the collaboration of business, government, university and non-profit organizations who will be part of this effort, please contact Trevor Callan and Peggy Kidd of SDSVP at sdsvp@sdfoundation.org, Attn: Accelerator, 858-720-0256 or visit www.SDSVP.org.

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