The social good platform backed by Apax announced plans to acquire our for-profit partner, Network for Good (a New York corporation). As a Certified B Corporation, Network for Good provides fundraising software and donor management services to charities. By joining the second-largest and fastest-growing social good software company in the world, Network for Good can further empower nonprofits and help accelerate efforts to create lasting social change. The Network for Good Donor Advised Fund (a Delaware nonprofit established in 2001 by AOL, Cisco and Yahoo!) will remain an independent 501(c)(3), and we will continue our work to make it easier for donors to give online to the causes they care about. Why are we so excited?When we spun out Network for Good (the B Corporation) as a separate private company in 2013, our collective intent was to scale up the development and distribution of software solutions for nonprofits and to attract third-party financing to fund technology enhancements and drive growth. And that’s exactly what this sale achieves.
- We will use the proceeds from the sale of our ownership interest to expand our investment in programs that empower donors with frictionless ways to give to charities.
- Donors will benefit from more and better ways to give to their favorite charities.
- Nonprofits will benefit from accelerated innovation and investment in technology and programs that enable online giving.
- And the social good ecosystem benefits from a broader suite of software solutions that increase efficiency and build more support for nonprofits.
To date, we’ve enabled millions of donors to contribute more than $4 billion to over 350,000 nonprofit organizations, positively impacting millions of people. And the proceeds from this transaction will turbocharge our mission to unleash generosity through online giving as technology and consumer behavior evolve. More details about the sale are available in this press release. Media Inquiries:For questions about the Network for Good Donor Advised Fund, contact Pam Girardo at email@example.com.