The Oak Park River Forest Community Foundation manages more than 30 nonprofit endowments that go toward funding projects in areas such as education, early childhood and the environment. Now, it’s trying to get more local entrepreneurs and businesses in on the act with its Big Idea competition.
Kristin Vogen, the foundation’s president and CEO, said she met with foundation board members Michelle Vanderlaan, who founded Sugar Cup Trading, as well as John Harris of digital consulting firm a5, and John Housseal of urban planning firm Houseal Lavigne Associates, to brainstorm the idea and its implementation.
“When I first came on board, we felt we needed to have increased participation by businesses in the area of philanthropy,” Vogen said.
Vogen, Vanderlaan, Housseal and Harris round out the core team responsible for implementing what has come to be called Entrepreneur Leaders in Philanthropy (ELP).
The ELP is a “seed factory,” according to the foundation’s website, that seeks to award a seed grant of up to $50,000 in February 2016 “for a transformative idea” that is designed “to make our community the best place to live, work and grow.”
A call for entries was launched on Sept. 15. Anyone who has a “Big Idea” that will bring about positive, significant change to the Oak Park and River Forest community should submit his or her entry by Dec. 15.
The $50,000 grant is intended to be funded by 40 ELP participants, which will each contribute $2,500. The participants represent a cross-section of Oak Park and River Forest’s most recognized local brands. They include Buzz Café, Sugar Cup Trading, Beyond Properties, the Oak Park and River Forest Chamber of Commerce, and Wednesday Journal, Inc..
Ninety-five percent of each $2,500 is allocated to grants, with $125 going toward ELP operating costs. Vogen said each entrepreneur who gave this year has also committed to giving for the next two years. The total amount of contributions will go into an endowment fund.
Although the foundation launched ELP less than a year ago, they’ve already attracted more than half of their targeted 40 participants, and new entrepreneurs and business leaders are signing up rapidly, Vogen said.
“Most everyone we’ve talked to are willing to write a check for the community,” said Vanderlaan. “We’re entrepreneurs, cash flow is always important, but we know we can make a difference [through this]. It’s so exciting.”
In February, submitted ideas will be evaluated by a panel of judges in the style of the popular TV show “Shark Tank.” But the great exception is that pitched ideas don’t necessarily have to be profit-driven. As long as they impact the Oak Park and River Forest area, they’re game, foundation officials said.
“We want to make [Oak Park] the place to live, work, grow and do business,” Vanderlaan said.
On Oct. 7, ELP is hosting an informational event at BeerShop, 1026 North Blvd. for entrepreneurs who may be interested in joining the group. You can visit the foundation’s website, oprfcf.org, for more information about competition requirements.
CONTACT: michael@oakpark.com