Boston – Pledge 1% Boston, Greater Boston’s regional initiative of the global Pledge 1% movement, is stepping up efforts to catalyze a community of startups and other innovation economy players that support their communities. Beginning Wednesday, November 29 with the ringing of the NASDAQ Opening Bell by the leaders of the Pledge 1% movement, Pledge 1% Boston plans to double its local roster of members to 60 by the end of January.
“The innovation sector has rallied around the idea of engaging with and supporting community organization in Greater Boston and beyond,” said Tim Smith, Senior Director of Innovation Partnerships at the Boston Foundation. “We hope this campaign will inspire new companies and founders – including those who are already informally committed to supporting their communities – to make a formal pledge to prioritize community well-being.”
“We are thrilled with the interest that Pledge 1% has been able to generate in Greater Boston in just its first year,” said Elizabeth Dobrska, Executive Director of Technology Underwriting Greater Good (TUGG). “We see a real opportunity here to continue that growth, as tech companies large and small recognize supporting their local communities resonates with both their employees and their customers.”
Pledge 1% Boston has been highlighted for its efforts across the media. It was named a 2017 Game Changer by the Boston Globe, and just last month selected as a “50 on Fire Inno Blazer” by BostInno.
The Boston Foundation and TUGG are co-sponsors of Pledge 1% Boston, which encourages and challenges founders and CEOs to pledge 1% of equity (either personal or company equity), product, and employee time for their communities, and help put that intent into action.
As of the end of November, 30 organizations have officially signed on as members of Pledge 1% Boston, including Accomplice, Constant Contact, Gravyty, InsightSquared, Lovepop, Salsify and TripAdvisor.
Pledge 1% Boston is the local embodiment of the broader global movement, Pledge 1%. The movement was sparked by three companies in 2014 - Salesforce, Atlassian, and Rally - to change the world through inspiring early–stage corporate philanthropy. More than 3000 organizations worldwide have joined Pledge 1%.
About the Boston Foundation
The Boston Foundation, Greater Boston’s community foundation, is one of the largest community foundations in the nation, with net assets of some $1 billion. In 2016, the Foundation and its donors made $100 million in grants to nonprofit organizations and received gifts of more than $107 million. In celebration of its Centennial in 2015, the Boston Foundation launched the Campaign for Boston to strengthen the Permanent Fund for Boston, the principal endowment fund focused on the most pressing needs of Greater Boston. The Foundation is proud to be a partner in philanthropy, with more than 1,000 separate charitable funds established by donors either for the general benefit of the community or for special purposes. The Boston Foundation also serves as a major civic leader, think tank and advocacy organization, commissioning research into the most critical issues of our time and helping to shape public policy designed to advance opportunity for everyone in Greater Boston. The Philanthropic Initiative (TPI), a distinct operating unit of the Foundation, designs and implements customized philanthropic strategies for families, foundations and corporations around the globe. For more information about the Boston Foundation and TPI, visit tbf.org or call 617-338-1700.
About TUGG (Technology Underwriting Greater Good)
TUGG (Technology Underwriting Greater Good) is the nonprofit arm of Boston’s tech community. The organization engages and connects tech entrepreneurs and their companies with the most innovative social enterprises serving under-resourced youth in Greater Boston. In addition to its community engagement platform, TUGG is one of the only funders of experimental youth-focused social enterprises in Boston. Learn more about TUGG at www.tugg.org and follow along on Twitter at @TUGGorg.