For Immediate Release
January 25, 2010
PeopleFund CEO Margo Weisz Steps Down After 15 Years
Weisz’s Departure Met with Support from Board and Staff as Organization Enjoys its Strongest Position in History
AUSTIN, January 25 – Margo Weisz, Founder and Executive Director of PeopleFund, has decided to resign in July of 2010 as the organization enjoys its strongest position in history with over $10 million in assets. Founded in 1994 (formerly the for-profit Austin Community Development Corporation), PeopleFund has grown from a one-woman show to a staff of 13 under Weisz’ visionary leadership. After 15 years at the helm, Weisz’s departure is carefully timed as the organization’s balance sheet, programs, and loan portfolio continue to grow and succeed.
“I have a great love and respect for the people I work with, the role I’ve played and the mission that is so close to my heart, “ said Weisz. “PeopleFund is in a strong financial position and poised to grow. I wanted to leave at a time when major projects were complete, and the organization had the people and tools in place to thrive. After 15 years, I am looking forward to a little time off before I think about my next career adventure.”
Board Members and staff support Weisz’s decision, though her vision and enthusiasm will certainly be missed. Eugene Sepulveda, PeopleFund Board Member, says, “As long as I’ve known Margo and PeopleFund, she’s wanted to reach $10 million, start a sustainable affordable housing program, and build a building. She’s now done ’em all, is leaving us strong and healthy and is ready for her next chapter. Austin owes Margo Weisz a great deal!” PeopleFund’s Board of Directors will be conducting a national search for a new executive director.
Since 1994, PeopleFund has invested $21.6 million and leveraged an additional $11 million in partnership loans into the Central Texas economy for a total investment of nearly $33 million. With over 2000 jobs created and several thousand retained, PeopleFund continues to create economic opportunity for small business owners and communities during these tough economic times. In 2008, Margo Weisz co-founded PeopleTrust, a subsidiary organization that provides sustainable homeownership for low- to moderate-income families through Central Texas’ first Community Land Trust and the shared equity model. Both organizations will be ready to expand their services later this year when they move into their fully-funded permanent new home– the Center for Economic Opportunity.
PeopleFund is a Central Texas non-profit organization dedicated to creating economic opportunity through small business loans, affordable housing initiatives and community outreach. Since its inception in 1994, PeopleFund has loaned $21.6 million to small businesses such as Escuelita del Alma Learning Center, RCR Auto Repair, Ecology Action, Rosy’s In-Home Health Care Services, Blue Dahlia, Juan in a Million and numerous other small businesses. PeopleTrust, an affiliate of PeopleFund, specializes in affordable home-ownership by providing innovative and responsible financing opportunities. PeopleTrust has assisted 134 families achieve home ownership since 2008. For additional information, please visit www.peoplefund.org .