News

MILWAUKEE, Nov. 25, 2013 – The BrightStar Wisconsin Foundation, a groundbreaking
philanthropic approach to supporting job creation and economic growth statewide through
investment in early-stage companies, today announced that the Internal Revenue Service
has granted the foundation’s request for tax-exempt status under section 501(c)3 of the
Internal Revenue Code. The formal determination of the foundation’s status as taxexempt
enables it to begin executing its unique strategy of soliciting tax-deductible

As state capital for early-stage companies has continued to plummet in Wisconsin over the past two years, now down to about $25 million, a new nonprofit organization has taken the first steps of a revolutionary approach that it hopes will fill the financial gap to fuel job growth and business development.

Milwaukee-based BrightStar Wisconsin Foundation, which was incorporated July 1, is turning to the state's pool of philanthropic individuals and foundations and asking them to donate a portion of their pockets to state-based startup companies.

Zilber Property Group has provided office space in downtown Milwaukee to house BrightStar Wisconsin Foundation Inc., a new organization seeking nonprofit status that will collect donations to fund startups and job creation statewide.

BrightStar will operate in Zilber’s Empire Building, 710 N. Plankinton Ave., at the corner of Plankinton and Wisconsin avenues, according to an announcement Tuesday.

Money manager Albert "Ab" Nicholas said Wednesday he has pledged $1 million to BrightStar Wisconsin Foundation Inc., a new group with an unusual plan for using charitable donations to make venture investments in young state companies.

Nicholas, who is founder and chairman of Milwaukee-based Nicholas Co., is the first contributor to be named by BrightStar since the foundation launched in July with seed pledges of $6 million from eight founding donors.