Kevin and Molly Efrusy
/SOURCE OF WEALTH: Accel Partners
FUNDING AREAS: Youth Leadership Development & Education, Public Health, Global Development, Women's Empowerment
OVERVIEW: Kevin Efrusy and his wife, Molly, do their grantmaking through the Efrusy Family Foundation, which focuses on youth leadership development and education in the US and Africa. The foundation made over $1 million in grants in a recent year and appears to be increasing its giving each year. Molly serves on several nonprofit boards, which tracks with some of the family's grantmaking.
BACKGROUND: Raised in the Chicago area, Kevin Efrusy attended Stanford University and graduated with engineering degrees, as well as an MBA. Efrusy founded Corio, a software-as-a-service pioneer that went public and was acquired by IBM in 2005. He also built and served as the first CEO of IronPlanet, an online marketplace for heavy equipment. Efrusy joined Accel Partners in 2003 and was the lead investor in a number of pioneering companies including Facebook, Groupon, and Couchbase.
ISSUES:
YOUTH LEADERSHIP DEVELOPMENT/EDUCATION: The Efrusys support select youth leadership development and education organizations in the U.S. and abroad. They are involved with the African Leadership Foundation, which supports "transformative change in Africa by developing and connecting the continent's next generation of leaders" through partnership with the African Leadership Academy in South Africa. Molly is on the U.S. advisory council of the foundation and supports the outfit via their family foundation. Other Efrusy Family Foundation grantees have included Eastside College Preparatory School, Palo Alto Partners in Education and the Future Project, "a national movement empowering young Americans to live with passion and purpose."
The couple has also supported Molly's school UC Berkeley, and the Efrusys' mutual alma mater, Stanford, where they have helped fund the EXTREME design for extreme affordability program, in which "students learn to design products and services that will change the lives of the world’s poorest citizens." Molly is also a member of the Wayfinder Wise Council, the advisory board for Project Wayfinder, a Stanford d.school-led project to help high school students discover meaning and purpose.
PUBLIC HEALTH: Molly Efrusy is a member of the policy advisory council of the UC Berkeley School of Public Health, from which she graduated. The School has received ongoing support for the Efrusy Family Foundation.
GLOBAL DEVELOPMENT: Molly is a board member of Firelight Foundation, which "believes in the power of African communities to create lasting change for children and families affected by poverty, HIV, and AIDS." The Efrusys have supported Firelight through their family foundation. Other grantees have induced International Justice Mission, and Nuru International. The Efrusy Family Foundation has also directed funds to CAF America to support the Click Foundation and the Kronendal Music Academy both in South Africa. One of the Click Foundation's focuses is literacy.
WOMEN'S EMPOWERMENT: The Efrusys have supported Iqra Fund, a "nonprofit organization committed to serving girls in remote regions faced with economic, social, and political barriers to education."
LOOKING FORWARD: In his 40s, Efrusy has reportedly dialed back on active investing to focus more on philanthropic ventures. The couple's work on the international stage in particular may deepen significantly.
CONTACT:
The Efrusy Family Foundation does not provide a clear avenue for getting in touch but below is an address:
The Efrusy Family Foundation
501 Silverside Rd., Ste. 123
Wilmington, DE 19809
LINK:
