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Between recent stagnation in individual giving, cuts in government spending and explosive growth in the number of IRS-registered charities, the non-profit industry faces serious financial threats in the coming years: more organizations are competing for fewer dollars in order to provide more charitable services than ever before.
Good-Benefits focuses on empowering the engines of charitable giving, individuals, who collectively grant ~$220 billion to charity each year. By converting middle-income donors from ad hoc donors to recurring monthly donors, Good-Benefits helps them give ~30% more money to their favorite causes. Not only do we make it easier to give through payroll, but we leverage corporate philanthropy trends to help people earn corporate matching rewards. Then we nudge people towards the organizations where their grants will have the most impact.
Our customers are companies that want to offer simple, engaging, impactful corporate giving programs. These companies want to empower their employees to take full control of their workplace giving and manage all their charitable donations in one place. We have created a “401k program for charity” where employees may make tax-deductible contributions to a Good-Benefits account through payroll and employers have the option to match contributions, provide enrollment bonuses or offer other rewards. Good-Benefits then links the employee with pre-approved charities through its interactive platform and processes all transactions associated with the donation, resulting in a single annual tax receipt to both employee and employer.
Good-Benefits aims to streamline employee giving, reduce administrative costs and minimize technological risk to companies with in-house corporate giving programs. But our true mission is to stimulate charitable giving levels more broadly. Between the boost in giving levels donors realize when switching from ad hoc giving to payroll giving, and the matching grant programs of our generous corporate partners, Good-Benefits users can easily double or triple their annual giving. Moreover, our platform makes it easy for employees to discover, organize and donate to high impact charities.
We can shift donor behavior from short-term "checkbook philanthropy" to long-term "social investment." At scale, we can help solve the non-profit industry's fiscal problems.