PRZOOM - /newswire/ -
Salem, OR, United States, 2009/11/06 - PingGadget announced that it has joined the Entrepreneurs Foundation of Colorado (EFCO) to support philanthropic efforts throughout the community - PingGadget.com.
EFCO allows startup companies to donate a fraction of their equity to Boulder’s Community Foundation during initial stages of liquidity.
While they may want to directly support charities, most startups are not in a financial position to do so. Through EFCO, entrepreneurs can focus on building their business while meeting their philanthropic goals.
"Boulder is a thriving space for social media technology and we are thrilled to be a part of this supportive community. Through EFCO we are able to establish a culture of giving back and allowing the community to share in our success,” said Dennis Moulton, co-founder of PingGadget. “EFCO is dedicated to the long term health and sustainability of Colorado and we want to lend support to that goal.”
Donations from EFCO to the Community Foundation are channeled to various non-profit organizations throughout Colorado, allowing EFCO to focus on working with entrepreneurs to help them meet their philanthropic objectives. Contributing companies simply select a cause, and the Community Foundation takes care of the rest. EFCO is aligned with the Entrepreneurs Foundation, an organization formed in 1988 with affiliates in Silicon Valley, Austin, Southern California, New England, Dallas, Portland, Atlanta, Hawaii and Israel.
“Working with various local initiatives through the Community Foundation, EFCO (efcolorado.org) allows entrepreneurs to support a range of causes from education to the environment,” said Tom Keller, one of the founding trustees of EFCO. “PingGadget’s support helps us to achieve the critical mass of equity donations we need to truly make a difference in our community.”
PingGadget (pinggadget.com) is a next generation microblogging service. The web-based service allows users to connect and converse in real-time with people and the things they care about. The PingGadget service will be available in January 2010. Go tpinggadget.com to pre-register.