Our Mission
The mission of the Austin Chen Tsai Foundation is to leverage our family assets and donations to empower creative, talented young individuals who aspire to be entrepreneurs and make a difference. We aim to achieve this through grants, scholarship, investment, and other means that we can provide in order to have the legacy of Austin Chen Tsai continue.
Why We Started
The breadth of Austin’s accomplishments only came to light after he died. He started his business as a concert ticket broker during high school but would rarely bring it up in conversation, never being one to draw attention to himself. Throughout college at UC Berkeley, he managed a heavy academic load, but all the while he quietly grew his business into a team of seven and transformed it into a wildly successful operation. Still, he only spoke about it in passing, and even then, would only share anecdotes that usually highlighted someone else’s accomplishments, not his own.
When he died, however, his family began to uncover how successful his business was actually doing. There were hints about it given he had purchased a home for himself in Bellevue, Washington, and two new cars - a Porsche and a Lotus Emira (Limited Edition). However, it was only after speaking to his team about the ways he would encourage, support, and train them and going through his financial statements that anyone was able to see in full view what Austin had built. The discovery was a jaw-dropping surprise, and naturally, it made the sense of loss all the more acute: the opportunity to look into his eyes and say, “Good job, Austin!”, was now gone.
To honor Austin’s legacy, we want to identify others like him and support them in the pursuit of their dreams. We want to let them know that we recognize their efforts and give them the support and encouragement that Austin would have given to them. We want to find the quiet, young builders in the world, look into their eyes, and tell them, “Good job!” Please join us in our efforts to build on Austin’s legacy, and if you know of other quiet, young builders who need to be recognized, please get in touch.
Giving is the Goal
We are dedicated to fostering the talent and aspirations of young individuals who believe in their ability to make a difference. We aim to achieve this through grants, scholarship, investment, and other means that we can provide in order to have the legacy of Austin Chen Tsai continue. With your donations and support this goal can and will be possible!
See the details listed below to see how we plan to give back and create scholarships and grants.
Foundation activities:
Grants, loans, scholarships, and funds will be awarded and distributed to non-profit organizations or individuals such as high schools, colleges, extracurricular programs that share the same mission with us, which is to serve the young generation and cultivate their entrepreneur career development.
These grants/funds can support a wide range of activities, including research, education, community development, young people career development, social services, and other charities.
Grant selection process:
The selection process for grants, loans, or other distributions involves several stages and criteria to ensure alignment with the foundation's mission, goals, and strategic priorities.
Establishment of Criteria: We will define clear criteria and guidelines for the types of projects, organizations, and activities eligible for funding. These criteria may include the foundation's mission, geographic focus, target populations, thematic priorities, eligibility requirements, and grant size.
Grant Application: Organizations seeking funding submit grant applications or proposals according to the foundation's guidelines and deadlines. Applications typically include information about the organization's mission, goals, programs, budget, leadership, and intended use of funds, as well as supporting documentation such as financial statements, project plans, and letters of support.
Initial Review and Screening: Foundation staff or review committees conduct an initial review of grant applications to assess their completeness, eligibility, and alignment with the foundation's criteria and priorities. Applications that meet the initial requirements may advance to the next stage of evaluation.
Evaluation and Assessment: Grant applications undergo a comprehensive evaluation process to assess their potential impact, effectiveness, feasibility, and alignment with the foundation's mission and strategic objectives. This may involve scoring, ranking, or comparative analysis of applications based on predetermined evaluation criteria, including innovation, scalability, sustainability, community engagement, and diversity, equity, and inclusion considerations.
Due Diligence and Verification: We will conduct due diligence checks to verify the legitimacy, credibility, and capacity of grant applicants, including their legal status, financial stability, governance structure, track record, and compliance with applicable laws and regulations. This may involve reviewing financial documents, conducting site visits, interviewing key personnel, and seeking references or third-party assessments.
Decision-Making and Selection: Foundation board of directors make final decisions regarding grant awards based on the evaluation findings, available funding, and strategic priorities. Decisions may be guided by input from experts, stakeholders, community members, and beneficiaries, as well as consideration of broader trends, needs, and opportunities in the field.
Notification and Communication: Grant applicants are notified of funding decisions, whether they receive an award or not. Foundation will provide feedback to unsuccessful applicants to help them improve future proposals and strengthen their capacity. Clear and transparent communication throughout the selection process fosters trust, accountability, and positive relationships with grantees and stakeholders.
Monitoring and Follow-Up: We will monitor the progress and outcomes of funded projects through regular reporting, site visits, and communication with grantees.
By following a rigorous and transparent selection process, we can identify high-impact opportunities, support innovative solutions, and advance our mission to create positive change in communities and society.
Have Questions?
If you have any questions or would like to support us in other ways, please feel free to reach out to us. Share your inquiries and ideas by filling out this form. We value your input and look forward to hearing from you. Thank you for supporting us at the Austin Chen Tsai Foundation.