A Venture Capitalist Uses Philanthropy to Reimagine Education

Philanthropy News Digest | February 09, 2018

As a venture capitalist, Ted Dintersmith made bets on fledgling tech companies. The work did more than make him wealthy; it also spurred his passion for reimagining education and has shaped his hands-on approach to philanthropy. Early in his venture-capital career, he gravitated toward company founders with sterling academic credentials, but that’s not where he found his greatest successes. In Mr. Dintersmith’s estimation, the top students clung to formulas and feared risk. Real innovators, he found, excelled in the academic subjects they liked and blew off the rest.
It was a startling revelation for someone with a Ph.D. in engineering from Stanford. When he was general partner of Charles River Ventures, Mr. Dintersmith, now 65, watched the rapid increase in computing power and computers’ growing ability to learn and improve their performance on their own. Many start-up executives ideas’ involved eliminating the need for human workers. He began to think that any job that a computer could learn would disappear. Pair those misgivings with his concern about his children’s future, and an education advocate was born.

Spotlight

Since 1951, the Community Foundation for Greater Atlanta has been connecting donors, nonprofits and community leaders to strengthen the 23-county Atlanta region through philanthropy. With nearly 70 years serving the 23-county Atlanta region and a robust team of experts, the Foundation inspires philanthropy to increase the vitality of our region and the well-being of all residents, empowering our donors to focus on the joy of giving.

Spotlight

Since 1951, the Community Foundation for Greater Atlanta has been connecting donors, nonprofits and community leaders to strengthen the 23-county Atlanta region through philanthropy. With nearly 70 years serving the 23-county Atlanta region and a robust team of experts, the Foundation inspires philanthropy to increase the vitality of our region and the well-being of all residents, empowering our donors to focus on the joy of giving.

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NONPROFIT MANAGEMENT

Memorial Hermann Health System Invests in EnableComp, an Industry-Leading Specialty Revenue Cycle Management Solution

Memorial Hermann Health System | July 12, 2022

Today EnableComp has announced that Memorial Hermann Health System – a non-profit, community-focused, award-winning health system committed to creating healthier communities, now and for generations to come in the Houston area – has made a strategic investment in the company alongside Welsh, Carson, Anderson & Stowe (WCAS). Based in Franklin, Tennessee, EnableComp leverages its proprietary software embedded with advanced AI+RPA capability, Enforcer360, to increase revenue yield and accelerate collections for healthcare providers on Veterans Administration, Workers' Compensation, Motor Vehicle Accident/Third-Party Liability, and Out-of-State Medicaid claims. EnableComp also offers comprehensive Denial Resolution, ensuring providers maximize cash collections and revenue recovery from underpayments and/or zero-balance accounts. Today, the company serves more than 1,000 healthcare providers across all 50 states. Randy Dobbs, EnableComp's Chief Executive Officer said, "We are very pleased to welcome Memorial Hermann as a health system investor partner. We look forward to working closely with their leadership to meet their needs and seek input on new product offerings. The investment enables us to continue to enhance our world-class Enforcer360 RCM technology platform, expand our product portfolio and ensure high-quality delivery of revenue cycle management solutions to the healthcare market." "As a non-profit, values-driven, community-owned health system, Memorial Hermann takes its dual roles of being a responsible financial steward and a trusted healthcare provider extremely seriously, By making prudent investments in companies that align with our mission to improve health, we ensure we can continue meeting the needs of our Greater Houston community, one of the largest and fastest-growing metropolitan areas of the country, while also creating greater operational efficiencies. The decision to invest in EnableComp is guided by the same philosophies that drive all of our work: deliver value and create healthier communities. EnableComp fits squarely in that mission, with best-in-class solutions delivering compelling ROI and support, allowing health systems to focus on providing care to patients." -Feby Abraham, EVP and Chief Strategy Officer at Memorial Hermann Health System. Memorial Hermann is one of the largest not-for-profit health systems in Southeast Texas. While practicing the highest standards of safe, evidence-based, quality care, the system's 6,500 affiliated physicians and 29,000 employees provide a personalized and outcome-oriented experience across more than 265 care delivery sites throughout the Greater Houston area. Memorial Hermann will participate in EnableComp's Strategic Advisory Board to support growth initiatives, continuous quality improvement, new product development and expansion of capabilities. About Memorial Hermann Health System- Charting a better future. A future that's built upon the HEALTH of our community. This is the driving force for Memorial Hermann, redefining health care for the individuals and many diverse populations we serve. Our 6,500 affiliated physicians and 29,000 employees practice the highest standards of safe, evidence-based, quality care to provide a personalized and outcome- oriented experience across our more than 265 care delivery sites. As one of the largest not-for- profit health systems in Southeast Texas, Memorial Hermann has an award-winning and nationally acclaimed Accountable Care Organization, 17* hospitals and numerous specialty programs and services conveniently located throughout the Greater Houston area. Memorial Hermann-Texas Medical Center is one of the nation's busiest Level I trauma centers and serves as the primary teaching hospital for McGovern Medical School at UTHealth Houston. For more than 115 years, our focus has been the best interest of our community, contributing more than $400 million annually through school-based health centers and other community benefit programs. Now and for generations to come, the health of our community will be at the center of what we do – charting a better future for all. Memorial Hermann Health System owns and operates 14 hospitals and has joint ventures with three other hospital facilities, including Memorial Hermann Surgical Hospital First Colony, Memorial Hermann Surgical Hospital Kingwood and Memorial Hermann Rehabilitation Hospital-Katy. About EnableComp- EnableComp partners with over 1,000 healthcare providers to manage Veterans Administration, Workers' Compensation, Motor Vehicle Accident/TPL, and Out of State Medicaid claims, as well as ERISA appeals. EnableComp also offer services for A/R management, zero balance recovery, and commercial and government denials. The company's industry leading technology and analytics identifies the right payer, at the right time, for the right amount, ensuring clients collect the appropriate revenue for their complex claims and denials. EnableComp is also among the top one percent of companies to make the Inc. 5000 list of the fastest-growing private companies in the United States for the last eight years. About Welsh, Carson, Anderson & Stowe- WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. The firm has raised and managed funds totaling over $30 billion of committed capital.

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FUNDRAISING

Algolia Helps GoFundMe Increase Engagement by 15%

Algolia | May 05, 2022

Algolia, the leading API Platform for Search & Discovery, announced that GoFundMe, which has raised more than $15 billion from more than 200 million donations since its founding in 2010, has expanded its investment in search and discovery. GoFundMe, a long-time Algolia customer, has added InstantSearch and Query Suggestions to its website along with Algolia’s unique A/B testing capabilities. With these new features in place, GoFundMe further increased conversion rates by 15% and boosted click-through rates from primary searches, all of which resulted in greater donations. Often donors visiting our website are searching for fundraisers or causes with minimal information, sometimes only a name, location, or small detail about the cause. Algolia’s Search and Discovery platform has been critical in helping prospective donors connect to the causes they are searching for as well as discover new ones that appeal to them. The success we’ve previously gained by using Algolia to build an exceptional user experience has made it an easy decision to further expand our investment.” Bryan Sim, senior product manager at GoFundMe Algolia’s flexible APIs, and the addition of InstantSearch and Query Suggestions, enabled GoFundMe to create ‘discovery' pages where users can browse fundraisers by specific categories. Algolia also worked closely with GoFundMe to launch a front-page carousel that features new campaigns when users first enter the site. “GoFundMe’s investment in Algolia underscores its commitment in providing the best user experience by helping donors find and discover the causes they wish to support more easily and quickly,” said Bernadette Nixon, CEO of Algolia. “With our API-first approach, intuitive dashboard, and advanced developer tools, we make it easy to implement Algolia into any tech stack and build delightful user experiences.” New A/B testing helps GoFundMe to further optimize the user experience and increase donations. While Algolia has helped campaigns become more discoverable, it has also reduced the technical overhead burdens of GoFundMe’s engineering team by eliminating the need for countless hours of maintenance that would be required by alternate platforms. “By building more visibility around worthy causes using category pages, carousels and more, GoFundMe significantly helps potential donors discover more causes and, ultimately, increase donations to the people who most need them,” added Nixon. GoFundMe plans to work with Algolia to integrate learnings about user intent and leverage the platform’s ranking feature to even further improve the user experience while browsing campaigns. For more information about Algolia, visit www.Algolia.com. For more information about this story, visit: https://resources.algolia.com/customer-stories/casestudy-gofundme About Algolia Algolia is an API-First Search and Discovery platform that empowers builders to compose experiences at Internet scale to predict what customers want with blazing fast search and the best application browse experience leading to more remarkable Discovery. More than 11,000 companies including Under Armour, Lacoste, Birchbox, Stripe, Slack, Medium, and Zendesk rely on Algolia to manage over 1.5 trillion search queries a year. Algolia is headquartered in San Francisco with offices in New York, Atlanta, Austin, Paris, London, and Bucharest. About GoFundMe Founded in 2010, GoFundMe is the largest global fundraising platform that empowers people to give and receive help. Since then, more than $15 billion from over 200 million donations has uplifted those with needs and dreams, while making an impact at scale. GoFundMe is building a global support system that creates an opportunity for everyone to thrive.

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NONPROFIT TECHNOLOGY

Landmark Community Grants Program Directs Over $90,000 to Local Nonprofits and Schools

Landmark Vineyards | May 04, 2022

Landmark Vineyards announced its most recent class of Community Grants recipients includes nine nonprofit organizations, plus additional schools in California's Russian River Valley and Sonoma Valley. Landmark, part of The Wonderful Company family of brands owned by Stewart and Lynda Resnick, will award a total of $90,960 in grants, of which $30,000 has been directed towards K–12 schools in the community. Since its launch in 2014, Landmark Community Grants have funded over 156 projects and supported over 118 teachers and 39 schools, totaling nearly $650,000. We're humbled by the quality of applications we receive every year and strive to help our neighbors make an even bigger impact by giving them the resources they need to accomplish their goals. The Community Grants program was created to support grassroots, community-led nonprofit organizations and schools to help drive meaningful change. We're proud to be part of the great work taking place, and it's important to us to collaborate with others to make a difference where our employees live, work, and play." Molly Scott, director of grower and community relations at Landmark Landmark believes that investing in education is an investment in the future and has allocated a portion of the Community Grants to schools in order to provide wide-ranging support for teachers to fund projects and initiatives that help students to learn and thrive. From musical instruments and graphing calculators to science, technology, engineering, and mathematics (STEM) materials and innovative virtual field trips, the grants help fund classroom supplies and educational opportunities for students in Sonoma County. Grant recipients are focused on strengthening youth programs, social services, and strategic community investments. The funds help support organizations working tirelessly to provide lifelong opportunities and programs to empower youth and transitional social services. From job skills training and preventative dental care to mental wellness and therapy services, the Community Grants program is open to all focus areas. Organizations that receive grants are selected by a committee of employees who volunteer annually to identify organizations that provide projects and services directly benefiting local communities. "Funding from Landmark Community Grants will make it possible for the Jewish Community Free Clinic to provide primary care and other medical and social services to low-income workers and their families, always in an atmosphere of respect and compassion," said Donna Waldman, executive director, Jewish Community Free Clinic. "Our clients come from diverse low-income backgrounds and are primarily farm, domestic, and service workers from Sonoma County. As a small grassroots organization that never charges a fee for service, this grant will go a long way to ensure free services including labs, vaccinations, and medications go to those most in need." Some of the 2021–2022 grant recipients include: Jewish Community Free Clinic: Provide free medical care to 750 non-denominational clients. Reach for Home: Provide 110 homeless individuals with free mental health services via a mobile health clinic. Schell Vista Volunteer Firefighters Association: Provide explosion-proof flashlights to 50 volunteer firefighters and assist with search and rescue operations. Sonoma Community Center: Provide four months of Queer Art Club activities for 60 to 70 LGBTQIA identifying youths. YWCA Sonoma County: Provide a new oven range and refrigerator to help serve 2,000 meals per year. About Landmark Vineyards Nestled at the base of the Mayacamas Mountain Range in the Sonoma Valley, Landmark® Vineyards epitomizes the rustic grace and beauty of Sonoma County. Since 1974, Landmark has been dedicated to producing handcrafted, ultra-premium Chardonnay and Pinot Noir, sourcing grapes from unique vineyard sites throughout California to create rich, balanced wines. Its Hop Kiln Estate is a registered California Historical Landmark and expands Landmark Vineyards' presence with two tasting rooms and properties in Sonoma and the Russian River Valley. Their signature wine, the Overlook Chardonnay, has appeared on The Wine Spectator Top 100 list seven times. Landmark's wines may be purchased via select wine shops and restaurants, or directly from Landmark's Tasting Room, online store, or through membership in the Wine Society.

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