Contact:
Cindy Vizza
Points of Light Foundation
CVizza@PointsofLight.org
Clam Lorenz
Points of Light Foundation
CLorenz@PointsofLight.org
MissionFish Receives $100,000 Grand-Prize from Yale School of Management – The Goldman Sachs Foundation Partnership on Nonprofit Ventures
Washington, DC, (June 22, 2005) – MissionFish, a service of the Points of Light Foundation & Volunteer Center National Network, dedicated to helping nonprofits raise money through eBay, won a $100,000 Grand-Prize in the Third National Business Plan Competition for Nonprofit Organizations sponsored by the Yale School of Management – The Goldman Sachs Foundation Partnership on Nonprofit Ventures, in Jersey City, New Jersey on June 10.
MissionFish won for its business venture that offers eBay sellers the opportunity to donate a portion of their proceeds to nonprofit organizations and thereby turn on-line trading into a new revenue stream for good causes. Since its launch in November 2003, more than 5,000 organizations have registered with MissionFish and more than $6 million of unrestricted funding has been raised. In an exclusive relationship with eBay, MissionFish provides the technology, tools and support for nonprofits to realize a dependable funding source from online transactions.
"We believe that generated revenue can have a profound effect on an organization's capacity to serve," says MissionFish Executive Director Sean Milliken. "This award is important because it recognizes the market demand, social impact and income potential of the MissionFish business model."
In addition to the cash award, MissionFish will receive hundreds of hours of technical business planning consultations to assist in implementing new ventures. "We believe the concept of MissionFish and its social impact can help every nonprofit," says Robert K. Goodwin, president and CEO of the Points of Light Foundation. "This award will enable us to expand operations of MissionFish which will allow us to raise even more money for the nonprofit sector."
MissionFish is one of four grand-prize winners and four runners-up in the competition. The Partnership on Nonprofit Ventures received 464 applications from nearly every state in the country and all types of organizations, both large and small.
The other $100,000 grand-prize winners are: EcoLogic Finance, First Book and Npower NY.
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About MissionFish
MissionFish (www.missionfish.org) helps nonprofits raise money on eBay. We enable eBay sellers to give proceeds from their sales to favorite nonprofits, and help nonprofits become eBay sellers too – turning The World's Online Marketplace® into a new source of unrestricted funding. Founded in 1999, MissionFish has raised $6 million for a pool of more than 5,000 certified organizations. MissionFish has received awards for its innovative approach, and is operated as a service of the Points of Light Foundation.
About the Points of Light Foundation
The Points of Light Foundation & Volunteer Center National Network engages and mobilizes millions of volunteers who to help solve serious social problems in thousands of communities. Through a variety of programs and services, the Foundation encourages people from all walks of life – corporations, faith-based organizations, low-income communities, families, youth, and older adults – to volunteer. For more information ca ll 202-729-8000 or visit www.PointsofLight.org.
About The Partnership on Nonprofit Ventures
The Partnership on Nonprofit Ventures was funded through combined grants totaling $6 million made by The Pew Charitable Trusts and The Goldman Sachs Foundation. The Partnership on Nonprofit Ventures educates nonprofits about nonprofit enterprise, serves as a mechanism for capitalizing promising profit-making ventures with financial support, and provides intellectual capital to build the practice of social entrepreneurship in the nonprofit sector at-large. The Partnership grew out of the partners' growing concern that nonprofits increasingly find the need to enter the marketplace to generate new revenues beyond their philanthropic activities, and need guidance and resources to do so. For more information, visit the web site at http://www.ventures.yale.edu.
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