FOR IMMEDIATE RELEASE

Skoll Foundation Awards $1.5 Million to Silicon Valley Organizations That Promote Social Change

SAN JOSE, California (December 18, 2003) - The Skoll Foundation announced today the recipients of the new Skoll Awards for Innovation in Silicon Valley. Seven Silicon Valley-based nonprofit organizations will receive a total of $1.5 million, including $973,000 in direct financial support, in recognition of their accomplishments and their potential to advance systemic change and innovation in local communities.

The organizations and the direct financial awards for each are: American Leadership Forum, Santa Clara ($150,000); Businesses United in Investing, Lending and Development, Menlo Park ($125,000); Community School of Music and Arts, Mountain View ($150,000); Lenders for Community Development, San Jose ($170,000); People Acting in Community Together, San Jose ($130,000); Project Cornerstone, San Jose ($98,000); and San Jose Conservation Corps, San Jose ($150,000).

"The Skoll Awards for Innovation in Silicon Valley are just that: awards recognizing the innovative organizations in Silicon Valley that are working to advance positive, lasting change right here in this community," said Jeff Skoll, Founder and Chairman of the Skoll Foundation in San Jose.

The awards are distinctive because they offer core operating support, rather than project-specific funding, and include customized assistance from a consultant as well as an invitation to participate in a learning community. The award winners were selected using a creative grant-making process that required the finalists to "pitch" their ideas before a Selection Committee composed of Silicon Valley leaders and the Skoll Foundation staff in a competitive process that mirrors the way entrepreneurs seek financial support in the business world.

The Silicon Valley leaders who served on the Selection Committee included Robert Cohn, Partner, Sequoia Capital; Debra Dunn, Senior Vice President of Corporate Affairs, Hewlett-Packard; Jim Fruchterman, President and CEO, Benetech; and Robert L. Joss, Dean of the Stanford Graduate School of Business.

More than 70 Silicon Valley organizations submitted applications for the awards. From these, 13 semifinalists were selected for due diligence. Nine finalists were invited to make 20-minute presentations before the Selection Committee. The Skoll Foundation's Board of Directors approved the final selection of seven organizations.
"We have structured this program to combine $973,000 in direct financial awards and $500,000 in consulting services because we believe in tailoring support to the needs of each organization," explained Sally Osberg, president and CEO of the Skoll Foundation. "With the help of a consultant, the award winners will be encouraged to participate in a mutual learning community, where they can grow through collaboration. We will also invite them to connect through Social Edge, the Foundation's online community for the social sector."

If the organizations are successful, they can expect continued support from the Skoll Foundation. Christy Chin, Director of Strategy and Programs for the Foundation, said, "It's difficult for nonprofit leaders to work on advancing systemic change when they're busy dialing for dollars. With our sustained support, these nonprofit leaders will be free to concentrate on the important work that can accelerate social change."

About the Skoll Foundation

Headquartered in California's Silicon Valley, the Skoll Foundation was created in 1999 by Jeff Skoll, the first employee and first president of eBay. Its mission is to advance systemic change to benefit communities around the world by investing in, connecting and celebrating social entrepreneurs, who use business skills to act as change agents for society. The Skoll Foundation invests in social entrepreneurs through three award programs and the new Skoll Centre for Social Entrepreneurship at the Said Business School at Oxford University. The Foundation connects social entrepreneurs through its online community, Social Edge, at www.socialedge.org. It celebrates social entrepreneurs through media projects such as a four-part public television documentary that will be broadcast in late 2004, and via the Skoll World Forum for Social Entrepreneurship, which will be held at the Skoll Centre in spring 2004. For more information, see www.skollfoundation.org.

Contact:
Terry Nagel - Skoll Foundation
media@skollfoundation.org