A San Francisco tech startup wants to empower every American to give as effectively as the big philanthropy heavy-hitters, like Bill and Melinda Gates. To do this, Bright Funds is tapping into an underutilized source of giving - employer matching - which only 13 percent of employees currently use. In true startup fashion, they have redesigned the outdated model to be automated, frictionless, and effective.
The app enables employees to give strategically to the causes they care most about. Similar to mutual funds, employees can donate to a cause-specific fund, like education or poverty, or create their own. They can then see how their dollars are spent using the app's impact timeline and news feed.
Bright Funds has gained momentum, seeing a 40 percent increase in giving each year. While their turnkey solution immediately appealed to startups, they have also started to make their way into large, established enterprises. Evidence shows that employers have a lot to gain from improving their altruistic standing, with 62 percent of Millenials saying they'd be willing to take a pay cut to work for a socially responsible company. LEARN MORE