|
INSIDE THE DEAL
Meeting a Challenge
CLAY HOLTZMAN; Puget Sound Business Journal
Published: April 14, 2006
The deal: United Way of Pierce County secured a grant of up to $1 million from the Bill & Melinda Gates Foundation.
The parties: Rick Allen, president of United Way of Pierce County; Craig Ueland, president and CEO of Tacoma's Russell Investment Group; and other donors.
Earlier this month, the Tacoma-based organization received a commitment of up to $1 million from the Bill & Melinda Gates Foundation in Seattle.
The money will be used to match another $1 million, three-quarters of which has already been committed, that altogether will form the matching component of a new challenge fund that must raise up to $2 million more to unlock the now-secured matching money. The total benefit could exceed $4 million.
"But technically we haven't raised a dollar," Allen said. "We have zero."
Right place, wrong time
Five years ago, Allen asked one of his organization's most generous supporters, Ueland, to run the matching donor challenge fund. Ueland was interested, but as a father with infant twins, he asked for time.
In December, Ueland was ready and he started his new role by pledging to contribute $250,000. An additional $500,000 was raised, and now $250,000 more is reportedly close to being secured.
With that money committed, United Way contacted the Gates Foundation hoping for an additional commitment.
Ueland called Fred Kiga, Russell's head of government and corporate relations, who used his personal connection with William Gates Sr. (both are University of Washington regents) to schedule some face time.
Bye-bye Super Bowl
That connection led to a scheduled meeting with Gates Sr. on the morning of Feb. 6 -- the day after the Super Bowl in Detroit.
But Ueland had tickets to see the Seahawks at the Super Bowl with his brother, and he realized he could not return to Seattle in time for the Monday meeting.
Ueland considered his choices -- and forfeited that Super Bowl ticket to his brother's wife. When the Monday morning meeting began, Ueland was at the table.
"You have to decide what's most important to you," he said.
MORE ON THE 2006 COMMUNITY CHALLENGE MATCH
Hear more about the Community Challenge Match from 2006 Campaign Chair and Russell Investment Group CEO Craig Ueland
Gates foundation adds heft to community campaign
(The News Tribune, April 21st, 2006)
Gates pledge $1 million to United Way
(The News Tribune, April 11, 2006)
Bill & Melinda gates Foundation Adds $1 Million to United Way's Community Challenge Match - April 10, 2006
Donors boost United Way
Russell Investment CEO pledges $250,000 on the way to a $3 million goal
(The News Tribune, March 1, 2006)
Frequently Asked Questions - Community Challenge Match
|
