For More Information Contact:
Dave Squire
Entrepreneurs Foundation of the Northwest
503-944-2145
dsquire@ocf1.org
Jean Armstrong
Armstrong Kendall, Inc.
503-672-4680
jean@akipr.com
EFNW Celebrates Its First Liquidity Milestone
Stock Option Donations from Unicru and Clarity Visual Systems Net $150,000 for the Community
Portland, Ore. — October 5, 2006 — The Entrepreneurs Foundation of the Northwest (EFNW), created to provide early stage growth companies a way to give back to the community through donations of company equity to EFNW, celebrated its first liquidity milestone. EFNW’s business model provides that when any member company has a liquidity event, such as an IPO or acquisition, the profits from this equity go back to the community either in the form of a donor-advised fund or as a direct contribution. Recently two EFNW member companies, Unicru and Clarity Visual Systems, were acquired by public companies, thereby turning options both companies had donated to EFNW into more than$150,000 for community benefit.
Unicru’s Donation Goes To The Oregon Chapter of the National MS Society
In 2004, Unicru donated 50,000 shares to EFNW. When Unicru was acquired by Kronos® Incorporated in August 2006, the shares netted just over $137,000. Chris Marsh, former CEO of Unicru and now president of the Kronos Talent Management Division, directed EFNW to donate $117,000 of that to the Oregon Chapter of the National MS Society in honor of Marsh’s sister, Kim Marsh Feller, and her fight against multiple sclerosis. Marsh, who is also chairman of the board of the National Multiple Sclerosis Society, is leveraging this donation by issuing a challenge to all Oregonians, asking them to join him in contributing toward MS research. The Oregon Chapter has pledged to raise $250,000 in support of the National MS Society’s nationwide Promise: 2010.
“I am delighted that Unicru’s growth and evolution has made possible this donation to the MS Society,” said Marsh. “The Entrepreneurs Foundation provides a great way for entrepreneurs to share their success with the entire Northwest community.”
“The National Multiple Sclerosis Society envisions a world free of MS,” said Virginia Silvey, Oregon Chapter president. “To accomplish this, we must discover the cause, develop more effective therapies, and ultimately—find a cure. The National MS Society continues its commitment to identifying promising new areas
of research and treatment. With contributions from the 43 chapters (Oregon has pledged to raise $250,000), the National Society has committed to raising $30 million by 2010 (Promise: 2010) to support four targeted projects. Project areas include promising care and treatment for children (pediatric specialty centers) with MS, an MS lesion project, promising research in nervous system repair and protection, and a Longitudinal MS study. Thanks to Chris Marsh's leadership, Unicru has been one of the Oregon Chapter’s most valuable partners in the fight to end the devastating effects of MS."
Clarity Visual Systems Donation
Between 2004 and 2005 Clarity Visual Systems donated 24,000 shares of common stock to EFNW. Clarity was acquired by Planar Systems in September 2006 and the shares are expected to net $16,000. Clarity’s ‘Give Back to the Community’ committee has decided to donate 100% of the proceeds to the Entrepreneurs Foundation of the Northwest. “Clarity Visual’s ‘Give Back to the Community’ program helped create a sense of teamwork and purpose within our organization, which was evident in our success over the past 11 years,” said Paul Gulick, former CEO, Clarity Visual Systems, and now vice president and CTO of Planar. “EFNW helps companies, like Clarity, create corporate cultures that embrace community involvement. That’s good for both a company and the communities where its employees live and work. We are very excited to be able to help EFNW continue this important work through the proceeds from our EFNW grant.”
The remaining $20,000 from Unicru’s liquidity event will be used to fund EFNW’s core services. In addition to providing companies a mechanism for donating stock options or warrants that upon liquidity will be used to create a company community foundation, EFNW also assists member companies with the development of their community involvement culture by acting as a consultant. Consulting services include assistance with human resources and corporate policies, volunteer activities, employee surveys, and the tracking of community involvement activities. Since its inception, EFNW has channeled over $600,000 into the community in the form of time, talent, and wealth. EFNW has 34 member companies.
About Clarity Visual Systems
Established in 1995, Clarity Visual Systems, Inc. provides innovative networked visual information systems ¬ including displays, software and services ¬that are sold through value-added resellers and large-scale system integrators. It offers control room and digital signage systems that serve enterprise customers in a variety of markets worldwide including broadcast, financial services, government and telecommunications.
Not only did Clarity Visual integrate community involvement into its core company values, but also its executive team provided strong support. Paul Gulick, the company CEO, chaired the company’s ‘Give Back to Community’ Committee. Representatives from all departments and branch offices made up the committee. Annually, the committee surveyed the employees to ascertain their community involvement interests. This committee was integrated into the company’s annual planning and budgeting process. In addition, employees received eight paid hours to volunteer each year and the company encouraged individual, as well as company-
sponsored volunteer activities and giving. Clarity received EFNW’s 2005 Community Involvement Award in
2005. Clarity Visual Systems has now joined with Planar Systems, Inc. (NASDAQ: PLNR), a publicly-traded company with headquarters in Beaverton Oregon. For information about the company and its business, visit http://www.planar.com/.
About Unicru
Unicru has always been actively committed to the Portland community. Its grass roots efforts resulted in ongoing giving to charities such as the American Red Cross, the Ronald McDonald House, and the MS Society. In January of 2003, Unicru donated options on a large block of shares to the EFNW to give back to the community. EFNW helped Unicru focus its community involvement programs, so it more fully integrated community involvement into the business mission. This benefited the company, its employees, and the community at large. Unicru donated over 800 volunteer hours and $57,000 to six nonprofits during 2005. Unicru was acquired by Kronos® Incorporated in August 2006. For more information about the company, visit www.kronos.com.
About the National MS Society
The goal of the National MS Society is to end the devastating effects of MS. Multiple sclerosis is a chronic, often disabling disease that randomly attacks the central nervous system. The progress, severity, and specific symptoms vary from individual to individual and can’t be predicted. Symptoms include numbness, paralysis, loss of vision, loss of balance, and extreme fatigue among others. Most people with MS are diagnosed between the ages of 20 and 50. The National MS Society is the largest private sponsor of MS research in the world and provides comprehensive services, education, and support for people with MS and their families.
Committed to empowering people with MS, the Oregon Chapter serves over 6,400 people with MS in Oregon and Southwest Washington. For more information, visit www.defeatms.com or call (800) FIGHT MS.
About the Entrepreneurs Foundation of the Northwest
The Entrepreneurs Foundation of the Northwest (EFNW) believes that a stronger community makes stronger companies. The EFNW engages start-up companies to help them build a culture of
community involvement and volunteerism in two strategies. First, companies make a small
equity contribution to the Foundation, which is held until a liquidity event. When this event occurs, at least 75 percent of the contribution is transferred into a company-directed fund. Second, EFNW assists companies with the implementation of a community involvement program that matches their corporate cultures and philanthropic interests with the many needs in the local community. The EFNW is a supporting organization of the Oregon Community Foundation and is affiliated with nine other Entrepreneurs Foundations worldwide. The organization has received start-up capital from the Oregon Community Foundation, the Meyer Memorial Trust, SmartForest Ventures, Silicon Valley Bank, Portland General Electric, the Gill Family Foundation, and many members of the local entrepreneurial community. Visit www.efnw.org for more information
All trademarks are property of their respective owners.
For more information about participating companies, please visit their websites:
Unicru, Clarity Visual Systems, and National MS Society, Oregon Chapter
1221 SW Yamhill, #100 | Portland, OR 97205 | Phone: 503-944-2145 | Fax: 503-274-7771