Foundation freely foments funding feeding frenzy
It's about to start snowing at Chaminade University's Hogan Entrepreneurial Program offices.
The flurry will be comprised of applications from Hawaii-based nonprofits seeking a cash prize of up to $15,000.
In all, $30,000 is up for grabs in the third annual Nonprofit Business Plan Competition sponsored by the Hogan Family Foundation and American Savings Bank.
Entries arrive in two stages, first, the letter of intent, due this Friday, and second, business plans, which must be submitted by Oct. 19.
The school has received about 100 letters of intent in each of the two previous years, though not all nonprofits follow through by sending in a business plan.
The contest and cash are intended for nonprofit organizations needing funding for new and innovative social service programs that have been in operation for fewer than 12 months, said Ann Lujan, assistant to Hogan program director John Webster.
The first place winner receives $15,000; $10,000 is the second-place prize and the third-place finish nets $5,000.
The nonprofit deemed to have the most compelling project will receive 120 hours of consultation on integrated marketing from Loomis-ISC, a marketing and communications company.
Finalists must make oral presentations to a panel of judges comprised of senior executives, consultants and members of venture capital firms.
"We're really looking forward to this year's competition," said Webster, in a statement. "In the past, the response has been overwhelming -- there are so many nonprofits with new and exciting ideas for community service programs" and they play an important role in the community, he said.
Past winners include the Waianae Organic Farmers Cooperative and Healthy Options -- "Heat & Eat," a project of Lanakila Meals-on-Wheels.
The Waianae program went on to tie for second place in the national nonprofit competition hosted by Yale University.
The Hogan Entrepreneurial Program was created in 2002 with a grant from the Hogan Family Foundation. It is geared toward equipping eligible Chaminade students with entrepreneurial skills.
Students currently in the program will benefit from the nonprofit competition through observation of the process, the business plans and the oral presentations, said Lujan. The business plans will otherwise remain confidential.
Nonprofits interested in entering can obtain competition packet online, from Lujan by phone at 739-4673, or via an e-mailed request to email@example.com.
is a reporter with the Star-Bulletin. Call 529-4747, fax 529-4750 or write to Erika Engle, Honolulu Star-Bulletin, 500 Ala Moana Blvd., No. 7-210, Honolulu, HI 96813. She can also be reached at: firstname.lastname@example.org