Monday Buzz: Kickstarter Becomes a Benefit Corporation
One of the biggest online crowdfunding hubs announces its new status. Plus: How your association can make big improvements using big data.
The notion of online donations isn’t new. But crowdfunding has become an increasingly popular way for entrepreneurs, artists, and organizations to generate and gain support from communities and customers. In keeping with that spirit of community, Kickstarter announced it has reincorporated itself as a benefit corporation.
Benefit corporations not only focus on the bottom line and stockholder demands but also make a point to consider their impact on workers, communities, and the environment.
For Kickstarter, this means meeting several reporting requirements, including an annual statement that will report on public-benefit projects the company has announced as part of its new charter. These include limiting its environmental impact and improving financial transparency.
Kickstarter also announced it will donate 5 percent of its after-tax profit to support arts and music education, and to back organizations fighting to end systemic inequality.
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If you want to get attention for your organization, hop on the data train. Marketing Land columnist Victoria Godfrey’s latest article makes a compelling argument for why data-driven campaigns are the way to go if you want to draw a crowd.
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