Austin Entrepreneur Bjorn Billhardt Donates $1,000,000 Of Shares In His Company To UT Austin

Unique Donation Made Possible by Texas Alternatives Foundation

AUSTIN, Texas, Feb. 6, 2023 /PRNewswire/ -- Abilitie CEO and founder Bjorn Billhardt and his family donated $1,000,000 of shares in his company to The University of Texas at Austin to benefit students in the Plan II Honors Program, and university-wide programs run through the School of Undergraduate Studies.

Billhardt contributed the shares through the recently launched Texas Alternatives Foundation. The nonprofit provides a new and optimal way to contribute illiquid assets, like shares in privately-held businesses and limited partnerships, to UT Austin. Its objective is to maximize donor benefits and the impact on the university's mission. Billhardt's donation is the Foundation's first.

"I am thrilled to donate shares in Abilitie to UT through the Texas Alternatives Foundation," said Billhardt. "I believe that the Plan II Honors Program and the School of Undergraduate Studies are vital to the education of the next generation of leaders and entrepreneurs. I am honored to be able to support them in this way."

Billhardt's donation will support the Plan II Honors Program, one of the top liberal arts programs in the country. Plan II offers a rigorous curriculum that combines the study of humanities, social sciences, and natural sciences and prepares students for leadership roles in various fields. The donation will also benefit the School of Undergraduate Studies, which provides a wide range of academic programs, services and support for students, including administration of the national model Flag and Signature Course programs that broaden and strengthen the education of all UT undergraduates.

"We are incredibly grateful for Bjorn's generosity," said Dr. Brent Iverson, Texas Alternatives Foundation Board Member and former Dean of the School of Undergraduate Studies at UT Austin. "This donation will have a major impact on the education of our students and will help to ensure that UT Austin remains at the forefront of higher education in the nation."

"The Texas Alternatives Foundation is thrilled to have been able to work with Bjorn to facilitate this pioneering gift. We greatly appreciate the trust he's placed in us to be able to steward this generous gift of stock from a company that he's built through tremendous entrepreneurial effort," said Jarett Rodriguez, CEO of Texas Alternatives Foundation. "We aim to optimize the value of these assets to meet Bjorn and UT Austin's objectives. By donating these closely-held interests, Bjorn is helping us create a new way for the university to benefit from the investments of their alumni."

The Texas Alternatives Foundation maximizes donors' benefits and impacts on The University of Texas' mission to deliver the most excellent value and attain the highest levels of innovation and impact. The Foundation is working with business leaders to build a billion-dollar philanthropic pipeline of closely-held shares in Texas' most prized ventures, partnerships, and other illiquid assets.

For more information about the Texas Alternatives Foundation and its mission, please visit its website at www.texasalternativesfoundation.org.

Contact:  Jarett Rodriguez, [email protected]

SOURCE Texas Alternatives Foundation