Did you know that the crowd-funding site Kickstarter is now a benefit corporation? I didn’t either, until I got an email explaining what one was and why they decided to become one.

You see, Kickstarter found that being a for-profit corporation went against the ethos of what they were trying to do, namely be a force for social change. They go on to say:

“Companies that believe there are more important goals than maximizing shareholder value have been at odds with the expectation that for-profit companies must exist ultimately for profit above all.

“Benefit Corporations are different. Benefit Corporations are for-profit companies that are obligated to consider the impact of their decisions on society, not only shareholders. Radically, positive impact on society becomes part of a Benefit Corporation’s legally defined goals.”

What a fantastic concept, and an equally noble one at that. Sadly, only 0.01% of US organisations are currently benefit corporations, a statistic I feel will rapidly change.

If you’d like to read more, here’s Kickstarter’s benefit corporation charter. Fair play to them, as the Irish would say.

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