THE ANGEL–(BUSINESS WIRE) – Groundswell today announced the upcoming launch of its platform, which aims to stop charitable giving. Groundswell will revolutionize the way companies approach employee compensation and corporate philanthropy by providing employees with their own donor-recommended funds. Like the 401k for retirement, Groundswell puts employees in the roles of corporate philanthropy and empowers them to make an impact around the world. Groundswell will also provide all donors with the tools that were historically reserved for the ultra-rich, including personalized matching services, seamless donation options, tax-free investment opportunities and impact reporting. The company intends to make its platform a ubiquitous part of employee benefit packages and charitable giving.
Groundswell was founded by Jake Wood, the co-founder and former CEO of Team Rubicon, Joe Marchese, multiple founder and investor, and Adam Miller, founder and former CEO of Cornerstone OnDemand. Wood will serve as CEO of Groundswell and Marchese and Miller will serve as executive co-chairs.
Groundswell virtually gives employees their own personal foundation, and payroll integration allows them to automatically redirect their charitable donations to their account – with the option for the company to double those funds or donate money directly to it, eliminating the antiquated attribution after the donation, there will be no programs that companies operate today.
“The model of corporate philanthropy today is out of date,” said Wood. “The times in which philanthropy decisions in companies are made by executives or board members who do not reflect the different backgrounds or perspectives of their employees should be over. Groundswell will democratize philanthropy for the masses by building a solution that gives each power a personal foundation. ”
Eliminating the administrative burden of donation matching programs, Groundswell offers companies a unique opportunity to reposition corporate philanthropy as a pillar of corporate talent strategy that helps attract, engage, empower and retain diverse, value-minded employees to give a unique opportunity. Reports, available on the Groundswell platform, provide executives with a dynamic snapshot of the issues that matter most to employees. While a company’s annual survey can provide a spot-on overview of the important issues, Groundswell offers real-time analysis as social events develop. This means that executives are better prepared for the increasing expectations of consumers and employees to speak up or take action on social issues.
“Groundswell is the right idea for this moment, and Jake is the right leader to turn it into a reality,” Marchese said. “FinTech has transformed every corner of financial services but philanthropy, and we aim to target this market with half a trillion dollars.”
Heather Hartnett, CEO of Human Ventures, has joined the board. The founding team includes Tammy Hahn as Chief Product Officer, Karan Keswani as Chief Technology Officer and Candice Schmitt as Chief Administrative Officer.
“Philanthropy has historically been the domain of the top 1%. Groundswell puts the power of philanthropy in the hands of the other 99 percent, ”said Miller. “We believe supporting an employee’s charitable interests will be the next essential benefit for employees, just as health and retirement benefits have become a universal component of employee compensation.”
Groundswell offers a new type of financial service that leverages cutting-edge technology for better donation. Our platform enables companies to create personal foundations for their employees and to donate or match employee contributions directly from payroll, such as 401K for donations. It puts employees in the role of the driver of corporate philanthropy and empowers them to make an impact around the world. Groundswell also gives everyone access to tools that have historically been reserved for the very wealthy philanthropists: personalized matching of the best nonprofits for the causes you care about, smooth donations, tax-free investments to increase your impact, a single tax receipt at the end of the day of the year and a consistent picture of its impact over time.