Impact Company Spotlight: Co.tribute Simplifies Company Generosity
Co.tribute, led by Philip Paul, is reimagining corporate social responsibility. After 2+ decades of leading successful technology companies, Philip decided to turn his attention and talents to building companies that would exponentially influence the world for good. For their debut initiative, Philip and his team have built a clean, dynamic platform that allows employees and vendors to participate easily in a company's philanthropy. Co.tribute facilitates corporate matching programs and gives employees a “Giving Fund” experience while simplifying the giving process for busy company leadership.
To give participants assurance that donations will go to reputable causes, Co.tribute provides a thoroughly researched set of charity partners as potential grant recipients. Its dashboard provides visibility into the programs and organizations funded with company donations. Periodic photos and stories from charity partners drive engagement and excitement as everyone can see the impact of their giving decisions.
Co.tribute is gaining fans quickly. Says Brad Formsma of I Like Giving:
"Co.tribute is redefining corporate philanthropy. The days of black hole giving are gone, and we are coming into an age of employee and client engaged giving, resulting in measurable impact and real business benefits."
Company owners with a heart for generosity are raving about the shift Co.tribute has made in employee morale.
Impact Investing Foundation is excited to count Co.tribute among our first investments as it typifies triple bottom-line impact. The financial model is strong and the proven team with decades of execution experience has built a scalable, mature product. Plus the company has strong social impact with 9X charitable donations raised for each $ of revenue.
Check it out at cotribute.com.
Impact Foundation exists to invest charitable capital for economic, social, and spiritual transformation, our version of impact investing. It's the next iteration of philanthropy because innovative foundations and givers have recognized that all enterprises, not just charities, can produce both social and financial results on a spectrum from positive to negative. While we whole-heartedly believe impact investing is here for the long run, not everyone lives every day in this world. That's why we bring you this summary of the most important conversations in impact investing.
If you're new to the conversation and just wondering what the words mean, check out the FAQs and Resources and on our website.
The co-founders of Standard Cyborg and fellow Praxis Labs alumnae Jeff Huber and Garret Spiegel have been named to Forbes' 30 Under 30 for their pioneering work in making custom-fit prosthetics available widely and affordably. Congratulations!
Hells kitchen's plant based PS Kitchen gives 100% of its profits to charity. Talk about a guilt-free meal! Not to mention, their drinks are fabulous as well.
How does a family of seven from Ohio end up living in the midst of goat herders in Kyrgyzstan and developing access to worldwide markets for luxury cashmere? After hearing Sy Belohlevek tell his family's story, the answer seems to be God and grit.
June Cashmere's 100% cashmere yarns are collected directly from Kyrgyz shepherds living on small family farms along the ancient Silk Road amidst the soaring mountains of Central Asia. June is the Kyrgyz word for animal fiber, which is a centuries old vital resource and essential element of their nomadic lifestyle. From felted woolen rugs, to the clothes on their backs, june has made itself an indelible part of Kyrgyz culture. Additionally, the uniquely warm properties of the cashmere from their goats allow them to sustain cold and long winters in the vast mountains in Kyrgyzstan.
After successful careers in the musical sales and financial services business, Joe was ready for a new challenge. So, during May 2013, he went on a 4-day fast and committed to God to sow (invest and give) 90% of his personal income to the work of the Kingdom of God on earth, and to live on 10% of his income.
The very next day, while driving, Joe saw a sign announcing a new Wal-Mart Store opening in his area. He felt God speak to his heart to contact Wal-Mart and try to begin a business relationship. Having spent his Saturdays serving meals to homeless men, Joe developed a burden to help. Over time that burden grew into an idea to offer affordable insurance to help people land on their feet even after the toughest life situations.
Ethiopia has changed since the famine of the 1980's that prompted pop stars to raise funds through a lovely concert and catchy tunes. Explore the current landscape with one of our portfolio companies.
Verde Beef Processing is a feed production, cattle fattening and beef processing business Located in Ethiopia’s largest state, Oromia (about 3 hours from Addis Ababa), Verde Beef is raising the country’s largest herd of cattle.
Verde has been leasing a processing facility but is quickly outgrowing it. Overall, this business is on track to scale to $100mm in revenue and $38M EBITDA per year. At that level of productivity the company will employ 2,500, and create 50,000 new jobs in the beef industry.
Work is how I amass enough power and wealth to make other people work for me.
Business is the means by which a few owners get rich through the effort of others.
The highest calling of a Christian in business is to make a lot of money to give away to the church and ministries.
We may not say it quite like this, but many of operate as if these lies and half-truths are true. If this is how we view work, it's no wonder that 70% of Americans hate their jobs or are completely disengaged (according to a Pew Research Poll.) This lame understanding of work also limits our potential to partner with God in some really amazing ways. By renewing our theology of work, we can better understand the role of business in the Kingdom of God. This is essential if we are to realize the power of business to serve as winsome witnesses of the Gospel, creatively demonstrating our faith by being part of the solution.
Pete Ochs" business Seat King exemplifies the best of "Redemptive Business" as a means of creating jobs and transforming lives.
Expanding on traditional Evangelism/Discipleship, the idea of Redemptive Business borrows heavily from Praxis Labs’ concept of a “redemptive entrepreneur”, or one who seeks to embody the gospel in creating and building a venture that leaves a meaningful impact on the world.
In the first 18 months of Impact Foundation, we have place $30 Million in 53 Impact Companies, spanning the globe from Silicon Valley to Laos. The impact of those investments encompasses most of the main categories of transformation sought by traditional charity plus a few areas that charity cannot reach. Read about the causes and places that our investments seeks to transform.
Some of our more devoted followers may have noticed that some months ago Impact Foundation and Olive Tree Investments joined forces. If you haven't noticed, or are confused by the combination, this blog is for you.
It’s a natural fit as both groups put charitable capital to work in enterprises that seek measurable social and kingdom transformation while earning money. Impact Foundation offers donors a flexible tool for charitable investment, while Olive Tree searches the globe for the best transformative businesses in emerging markets.