PRESS
Consumers Drive Corporate Philanthropy Through Innovative Social Giving Program
May 1, 2013
FOR IMMEDIATE RELEASE
Givkwik, Inc. and ImpactAssets announced the inception of the Givkwik Fund today, a special donor advised fund designed to empower consumers with decision-making influence over where businesses direct their corporate philanthropy. The Givkwik Fund is named for the technology behind it, created and licensed by Givkwik, Inc. "Givkwik democratizes philanthropy," says Founder and CEO Jason Rosado. "The platform seamlessly integrates an easy, playful, social giving experience with the loyalty and cause marketing programs of corporate partners, banks and foundations." "Using Givkwik gives ImpactAssets an opportunity to expand in a creative and engaging way as we tap youth and mobile markets, and innovate our back-office," says ImpactAssets CEO, Tim Freundlich. Through Givkwik's social and mobile innovation, the Givkwik Fund appeals to younger consumers, a technically savvy group, sometimes unfamiliar with innovative charitable vehicles such as ImpactAssets' donor advised fund (DAF).
Donor advised funds, the fastest growing charitable vehicle in the United States, typically enable wealthy donors to direct grant-making. But with Givkwik's technology, consumers can participate in corporate philanthropic initiatives. Companies make tax-deductible donations to the Givkwik Fund, and then invite their customers to choose which nonprofits should receive grants from the Fund. To make this work technologically, Givkwik connects companies, causes and consumers via online, mobile and social channels; processes donations made into the Givkwik Fund; and issues outbound grants to any of the 6000+ 501(c)3 nonprofits in the Givkwik catalog. ImpactAssets manages the financial assets of the Givkwik Fund.
ABOUT GIVKWIK, INC. Givkwik, Inc., based in San Francisco, is a privately held for-profit social impact technology company, and alumni of both Points of Light/Village Capital and HUB Ventures accelerator programs. Learn more at Givkwik.com.
ABOUT IMPACTASSETS ImpactAssets is a nonprofit financial services firm that increases the flow of capital into investments that deliver financial, social and environmental returns. ImpactAssets currently administers approximately $100M in assets, with a long-term goal of $1B and has offices in the Bethesda, Maryland/DC Metro Area, New York City, and San Francisco. For more information, please visit ImpactAssets.org.