A lot of you spend a lot of time thinking about people’s money, and there’s a lot of it that you’re probably not touching.
Hi, I’m Ty and this is Rutul and we’re the founders of Bright Funds.
Charitable giving is important to a lot of people. In fact, 95% of Americans give to charity.
And it’s not just the $10 you gave to your sister in law’s AVON walk — it’s a lot of money. In fact, it’s 2% of GDP.
And the money people give to charity, is the money they really care about. Yet it’s hard for donors to know they’re making the effective choices when they give.
That’s why we built Bright Funds. Bright Funds helps people manage their charitable giving with the same ease and impact as they manage their investments. We bring the rigor and sophistication of mutual funds to charitable giving.
Let’s dive right in.
With Bright Funds, everyone builds a portfolio, so that’s where we’ll start. Personally, I am passionate about education, taking care of the environment and alleviating poverty.
These are the causes I care about, but I want a larger portion of my money to go to education, and even more of my money to go to Poverty, so I’ll make that adjustment using the sliders.
Each of our Funds is run like a mutual fund, and each Fund consists of only the highest performing nonprofits.
Let’s explore the Poverty Fund.
At Bright Funds, each Fund is built to provide a holistic, sustainable approach to a big global challenge. We accomplish this in two steps:
The first thing we do is we identify the best nonprofits by looking at the quality of impact they’re having and how effectively they’re run. For example, Oxfam and CARE are two of the organizations in our Poverty Fund.
The second thing we do is we combine these nonprofits to ensure we’re not just dealing with one piece of the problem, but together we’re addressing the whole problem. For poverty, we help those in need get the food and shelter required to deal with their present situation, but we also help them get the training they need to get out of poverty.
Now we’ll go back to building our portfolio.
Personally, when I’m investing in the stock market, I love my high-performing mutual funds, but once in awhile I like to pick individual stocks. Well you can do the same thing with Bright Funds. Back in 2009 I cofounded a nonprofit that I’d like to support through Bright Funds, and I also volunteer for a local San Francisco nonprofit. So I’ll go ahead and add both of those nonprofits to my Custom Fund and add that to my portfolio as well.
As an account holder, I can contribute in any of three different ways:
By Credit Card,
Through Payroll - if Bright Funds is my workplace giving program,
Or through my investment income. Bright Funds account holders can even optimize contributions to achieve the best tax strategy.
One of the things I like best about tracking my personal investments is the ability to see my returns.
With my Bright Funds portfolio, I get updates from my portfolio nonprofits in my Impact Timeline. I can easily filter by the Funds I’ve selected, such as Poverty then drill down on a specific project.
Here we can see how my investment is helping cotton farmers in northern Uganda rebuild their livelihoods after decades of civil war. I can see a photo or video, learn more about TechnoServe or the Poverty Fund, and share the project on social media.
If fact, if I’d like to, I can share my entire giving strategy with family and friends through my public profile.
One benefit for many of us is the ability to deduct our giving on our taxes. With Bright Funds, an IRS compliant report is available in seconds through One-Click Tax Reporting. Now you can finally ditch that shoebox full of charity receipts.
That’s Bright Funds in a nutshell.
Today, we’re making three big announcements:
1) Our fully functional consumer service is now live at brightfunds.org.
2) Bright Funds supports workplace giving. If you’re interested in Bright Funds at your company, give us a call.
3) Finally, Bright Funds is now open to partnerships with financial institutions.
If you work in financial services, you may have had one or two of your clients ask for advice with their charitable giving; one of them may have even asked you to sponsor them in the AVON walk for breast cancer.
But the truth is, a lot of financial services clients are thinking about their charitable giving.
Until now, charitable giving has largely been left out of the personal finance equation. Now Bright Funds bridges that gap. Let us partner with you to help your clients manage their investments in a better world.
We’re actively engaging with new partners and we invite your conversation. Please Vote for Bright Funds as Best of Show, and come find us at our table to see how we can partner.
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