New Venture Aims to Boost Funding for Schools, Charities

Charity begins at home. So goes the mantra of a new business, Community Funding Solutions (CFS), which aims to make every real estate transaction an opportunity for giving.

Based in Westlake Village, CFS has set up a network of “giving agents” in Los Angeles and Ventura counties that will hand over a portion of their commissions to nonprofit organizations such as school districts and local charities.

The for-profit venture was founded in June by Bennett Liss, who also started Partnership for Academic and Community Excellence (PACE), a leader in K-12 school-to-parent communications.

“This is the first time that a community can fund itself,” said Jamie Alcroft, CFS vice president of community relations.

Sustainable school funding is a CFS drawing power. “If half of the people participate, we could be raising millions for the school district, thereby keeping class sizes down, saving programs and teachers’ jobs,” said Alcroft, whose three children attended schools in the .

Donald Zimring, LVUSD superintendent, hailed organizations such as CFS as creative, collaborative ventures. “Hopefully, all of them will become pieces of the solution,” said Zimring.

So far, four nonprofits have already been named as beneficiaries, with Big Brothers Big Sisters of Ventura County being the first to receive funding from CFS.

Home sellers can name any charity of their choice, which could be a school, an entire school district or a variety of charities. Aside from Big Brothers Big Sisters of Ventura County, Habitat for Humanity Ventura County and a couple of nonprofits benefiting military personnel have also been named.

“We’re excited to be partnering with an organization that has a vision for the future,” said Lynne West, CEO of Big Brothers Big Sisters of Ventura County. “It’s the first of its kind in the area that has unrestricted funding.”

The Camarillo-based charity caters to children age 6 and older. Last year, it served over 1,000 kids in the county, most of them from low-income, foster care or disadvantaged situations. “We have over 100 children on our wait list, so this kind of funding will be a big boost to us,” said West.

”If the 28 homes that sold in Agoura last month had CFS real estate agents, over $120,000 could have been generated within the community in one month alone,” said Alcroft.

Agents typically earn a 6 percent commission on real estate transactions. When an agent teams up with CFS, the agent agrees to donate 15 percent of that commission to the home seller’s nonprofit of choice, said Alcroft. Another 10 percent is paid to CFS, he said.

When an agent’s donations have reached $30,000 in a year, the agent will no longer be required to pay 10 percent to CFS, said Alcroft.

“At that point, they can give the full 25 percent to the organization,” he said.

The nonprofit receives the funding at the close of escrow. The transaction can also be confirmed on the CFS website, according to Alcroft.

“Every day you read in the papers that government funding is being cut,” said Alcroft, a seasoned fundraiser. “This is the perfect opportunity to rescue schools and other nonprofits from massive funding cuts.”