Entrepreneur, Impact Investor, Mentor
Why did you open a Venn Account?
Before Venn Foundation existed, my family foundation took an interest in PRIs, and we made two PRIs to social businesses directly. It was a lot of work, and we could not justify continuing to make PRIs based on the transaction costs. With Venn Foundation, I can support any number of different PRIs from the same Venn Account without any upfront costs. If the PRI succeeds, the financial return goes back into my Venn Account, and I can recommend those dollars be used again for a new PRI or grant. In short, Venn provides all of the benefits of making a PRI directly but with none of the normal burdens.
What is one Venn PRI you are proud to have supported?
I am currently supporting three PRIs through my individual Venn Account, and I am excited about all of them for different reasons. But the Minnesota Children’s Museum (MCM) PRI is special for me. With a 3.5-year-old granddaughter of my own, I know first-hand the impact MCM has on children. And as a former board member of MCM, I know how well run it is, and I have always been impressed with its diverse earned revenue streams. Not only do MCM’s traveling exhibits directly advance its mission, they also contribute $1 million annually to subsidize other programs. Accelerating the growth of MCM’s traveling exhibits with a PRI was an easy choice. It hits both the heart and the head.