CreateHope Secures $2 Million Equity Investment To Support And Accelerate Strategic Growth.Business Editors BETHESDA Bethesda, city, United States Bethesda, uninc. city (1990 pop. 62,936), Montgomery co., W central Md., an affluent residential and commercial suburb of Washington, D.C. The area was settled in the late 17th cent. , Md.--(BUSINESS WIRE)--Nov. 21, 2003 CreateHope, the leading provider of software and services to the corporate philanthropy philanthropy, the spirit of active goodwill toward others as demonstrated in efforts to promote their welfare. The term is often used interchangeably with charity. industry, today announced a $2 million equity investment. North Carolina-based Frontier Capital, and respected business leader, former First Union Chairman, and Chief Executive Officer Ed Crutchfield Crutchfield, is a consumer electronics company specializing in audio/video equipment for the automobile. It currently offers many consumer electronics items from mobile to electronics and high fidelity components for the home. It was created in 1974 by Bill Crutchfield, founder and CEO. are the primary investors. CreateHope is profitable. The investment provides strategic growth capital that will enable the Company to expand operations, sales and service delivery. In conjunction with the financing, Richard Maclean has been appointed to CreateHope's board. Ed Crutchfield will serve as an active advisor to the Company. "In considering this investment, we were particularly impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with the caliber of clients CreateHope serves, and the transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. , accountability and efficiency its software delivers," said Richard Maclean, Managing Partner of Frontier Capital. "We are extremely excited about partnering with the CreateHope team to accelerate the company's future growth." "CreateHope's technology eliminates the barriers and complexities that corporations and their employees encounter in administrating and participating in workplace giving initiatives," added Ed Crutchfield. "In my experience, it's clearly a win-win solution because it reduces administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. , increases program effectiveness, and enables companies to provide workplace giving programs that their employees actually enjoy and view as a real benefit." This year CreateHope will process over $40 Million in employee donations and matching grants matching grant Academia Non-peer-reviewed funding in which a commercial enterprise, foundation, or philanthropy, federal government, contributes a sum of money that 'matches' a financial contribution made by an institution, university or hospital. for over twenty companies in the U.S. and Canada, representing over 500,000 employees. "This investment will allow us to deploy a national sales and support team to meet growing demand in the marketplace for our services," said Adam Goozh, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CreateHope. About CreateHope, Inc. CreateHope's software and services provide corporations with the ability to efficiently administer employee giving, matching, volunteer, disaster relief and grant programs. CreateHope's Giving Station(TM) allows corporations to scale programs enterprise-wide, both domestically and globally. Streamlined processes and advanced technology also reduce costs and improve program results. The Giving Station offers unparalleled fiscal transparency. Convenient and easy-to-use, the solution allows corporations to monitor all facets of their programs with an advanced suite of reporting and administrative tools. The net result for corporations is a more valued workplace giving program for all stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. . For more information on the CreateHope and its products: http://www.createhope.com or call 301-951-5835. About Frontier Capital Frontier Capital, based in Charlotte, NC, is a private investment firm currently deploying a $46 million fund. Frontier provides expansion capital to high growth companies located in the Southeast and Mid-Atlantic states Mid-At·lan·tic States See Middle Atlantic States. Noun 1. Mid-Atlantic states - a region of the eastern United States comprising New York and New Jersey and Pennsylvania and Delaware and Maryland U.S.A. . The managing partners of Frontier are Richard Maclean and Andrew Lindner. For additional information visit Frontier's web site at www.frontierfunds.com. About Ed Crutchfield In 1973, at age 32, Ed Crutchfield became First Union's President. At that time he was the youngest President of a major bank in the U.S. He served in this position for 11 years before becoming the institution's CEO in 1984. Under Crutchfield's leadership, First Union's assets grew from approximately $5 billion to over $250 billion when he retired in 2000. In 2001 First Union combined with Wachovia Corporation. Today Crutchfield serves on the boards of Liberty Corporation, Bernhardt Industries and VF Corporation. He is an active investor in several other businesses as well. |
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