Supporting charities by donating is a uniquely personal event. People are more likely to contribute to recipients who are identified as opposed to causes that are solely supported by data. How can a company make global philanthropy more accessible to its employees?
There’s one business that makes philanthropy more available to companies and their employees. This company is called Bright Funds. Co-founded by Ty Walrod and located in San Francisco, it connects with companies and lets their workers donate to charities. Most people who utilize Bright Funds give to national and local organizations. They also focus on important issues that include global poverty, human rights, education and water access.
Some of their most renowned clients include Box, Constellation Brands, and Morningstar. How does the dashboard work? Employees obtain a Bright Funds account that they can utilize to give to causes and charities that they feel passionate about. It helps them learn how their influence can make a difference, and employees can give in a more meaningful way to support most pressing worldly causes.
Modern-day philanthropy generally has some stigmas attached, such as getting attention merely from high-profile, wealthy benefactors. The Bright Fund platform sees potential in everyday people and wants to streamline the giving process. Its goal is to permit supporters to comprehend the impact of their donations.
What makes Bright Funds stand out is its giving strategy. The company doesn’t just enable people to donate to specific charities, but it creates groups of nonprofits that relate to each other. Bright Funds tries to be different from the mold. The company strives to empower people with the same quality of impact that highly successful individuals and big companies receive.
While Bright Funds is an organization that seemingly was created to make a profit, it does partner up with a non-profit group that processes the charitable management side. That’s necessary for bookkeeping purposes. In reality, the core of the company consists of two organizations: Bright Funds Foundation and Bright Funds Inc.
Giving with Bright Funds does come with a fee. A total of 7.5 percent of any donation covers credit card and donation processing. Since some nonprofits spend more than 65 percent of any donation on expenses and overhead costs, Bright Funds seems to give donors more in the often criticized world of philanthropy.