16 Oct Innosphere Adopts Pledge 1% Program to Help Guide Entrepreneurs through Long-Term Philanthropy Goals
Partnership between Community Foundation of Northern Colorado, Innosphere and Pledge 1% Colorado to inspire early-stage corporate philanthropy
Innosphere, Colorado’s leading incubator for science and technology-based startup and scaleup companies, announces a partnership with the Community Foundation of Northern Colorado and Pledge 1% Colorado to offer Innosphere client companies opportunities for long-term giving and to inspire early-stage corporate philanthropy.
Pledge 1% Colorado has generated more than $7.5 million in community funding for impactful nonprofits and has provided hundreds of hours of volunteer service across Colorado’s Front Range. “Working alongside Innosphere and the Community Foundation of Northern Colorado presents an opportunity for a brand-new pool of promising companies to give where it matters most,” says Matt Zwiebel, director of Pledge 1% Colorado. “We’ve been fortunate enough to work with over 200 Colorado companies who have made their community a stakeholder in their business and we look forward to seeing the long-term economic advantages up and down the Front Range.”
In the Pledge 1% philanthropic model, companies can pledge either 1% of equity, annual profit, employee time, or company product to nonprofits of their own choosing. “We’ve seen a rise in the number of companies that want to make the community a stakeholder in their companies,” said Scott Sampl, Innosphere operations director. “It’s an easy way for entrepreneurs to give, and it starts with an easy pledge form on the Pledge 1% Colorado website.”
“This program approaches philanthropy with an innovative lens,” said Ray Caraway, Community Foundation of Northern Colorado president and CEO. “The Foundation is excited to partner with Innosphere and Pledge 1% Colorado to help startups consider the community impact their company can make both from an economic as well as a philanthropic perspective.”
“We’re your partner in philanthropy, and excited to partner with Innosphere to help entrepreneurs build lasting legacies for their companies that are easily shared by all their employees,” said Ella Fahrlander, vice president of community engagement for the Community Foundation of Northern Colorado.
Innosphere is a nonprofit incubator that does not take equity in the companies it supports. Companies pledging 1% equity will direct where they want their philanthropy funds invested, and have the opportunity to direct a portion of their funds back to Innosphere’s nonprofit 501(c)(3) to provide the incubator with funding to launch new initiatives. Any funds directed to Innosphere through the Pledge 1% program will not go toward operational support.
Innosphere’s program supports science and technology-based companies located throughout Colorado. The Community Foundation of Northern Colorado works with all companies on their philanthropic goals regardless of geographic location; however, an Innosphere company not located in Northern Colorado could choose to house their 1% equity in another Colorado foundation such as the Community Foundation Boulder County, the Rose Community Foundation or the Denver Foundation. Pledge 1% founding partners include Salesforce, Atlassian and Rally Software. “We’re excited to offer every Innosphere company the opportunity to invest in philanthropy when there’s an exit,” said Sampl.
About the Community Foundation of Northern Colorado
The Community Foundation is a nonprofit, public foundation working for the benefit of charitable causes and organizations in Northern Colorado. It manages more than 500 individual charitable funds and over $110 million in assets; it serves a unique leadership role by bringing people and resources together around important local issues. More than 50 nonprofit organizations have their endowments housed with the Community Foundation, and many individuals and businesses have established donor advised funds. www.nocofoundation.org
About Pledge 1% Colorado:
Pledge 1% Colorado helps companies incorporate philanthropy and giving back into their businesses. Pledge 1% Colorado is a network of Colorado entrepreneurs who share a common commitment to giving back to their communities. Members pledge 1% of equity, annual profits, employee time, or company product to nonprofits of their choosing. Pledge 1% Colorado is a program of the Community Foundation Boulder County. www.pledge1colorado.org
Innosphere accelerates the success of high-impact science and technology-based startup and scaleup companies in Colorado. Innosphere’s incubation program focuses on ensuring companies are investor-ready, connecting entrepreneurs with experienced advisors, making introductions to corporate partners, exit planning, and accelerating top line revenue growth. Innosphere supports entrepreneurs in many industries, including but not limited to: bioscience; medical device; cleantech; energy; advanced materials; hardware; IoT; and enterprise software. Innosphere has been in operation for 20 years, has locations in Fort Collins, Boulder, Denver, and Castle Rock, and is a nonprofit 501(c)(3) organization with a strong mission to create jobs and grow Colorado’s entrepreneurship ecosystem. www.innosphere.org