Pledge 1% – Boardroom Allies
One thing I’m particularly proud of in my career is founding Pledge 1%, an organization that encourages companies to give back to their communities by donating a portion of equity, profit, time, or product to nonprofits in its community. It was bold idea from the beginning and I’m happy to see that more and more companies are taking the pledge (we’re around 20,000 strong now and growing quickly).
Recently, Pledge launched a new initiative, Boardroom Allies, to broaden their network and reach. The Allies program is comprised of an alliance of VCs who have committed to unlocking $5 billion in new philanthropy over the next five years by helping their portfolio companies set aside equity for social impact prior to liquidity events. You can read the full announcement on Business Wire here. What’s particularly exciting about this initiative is the fundraising goal and timeframe. It’s an aggressive approach and I’m both proud and heartened by the resolve of the VCs who have made this commitment. These including my partners, Brad Feld and Ryan McIntyre, as well as many other VCs from around the country and the world. Pledge 1% has outlined their resources, strategy, outcomes in this blog post about Boardroom Allies.
I encourage you to check it out and consider and either becoming a Boardroom Ally or by taking the pledge. It’s easy and a great way to make a lasting impact in your own neighborhood.