Why Should Nonprofits Select B Corporations?
Nonprofits frequently want to know that their vendors are “good” companies. B Corporations are values-driven companies. They are dedicated to pursuing social and environmental bottom lines while also being sustainable businesses. They have been independently vetted and verified by a third party as beneficial companies. As such, nonprofits can feel confident that the money they spend with B Corporations has positive social and environmental impacts.
What’s Special about These B Corporations?
Many B Corporations dedicate a percentage of their profits to nonprofits, or find other positive ways to contribute to the nonprofit sector. The B Corporations involved in this initiative are primarily dedicated to serving nonprofits – either 50% of revenue is from nonprofits or 50% of clients are nonprofits.
That means that these B Corporations are really dedicated to growing and supporting the nonprofit sector, and that they understand the unique needs of nonprofits. There are three things that make B Corporations that serve the nonprofit sector different:
- B Corps are not like other companies. We are social entrepreneurs with "do-gooder missions" similar to -- and complementary with -- your own vital missions.
- B Corps like ours proudly focus on serving Nonprofits like yours as our primary clients. Nonprofits are not a "sideshow" to us. You are our "Main Event!"
- As B Corps, we have committed to "walk the walk," not just "talk the talk," of social responsibility. We do this by meeting or exceeding a set of specific, measurable B Corporation standards, including workplace diversity, carbon neutrality, recycling and waste reduction, donating a portion of our profits to good causes, etc.
What are B Corporations?
B Corporations are a new kind of company that uses the power of business to solve social and environmental problems.
Certified B Corporations (B stands for Benefit):
- meet transparent and comprehensive standards of social and environmental performance;
- legally expand their corporate responsibilities to include consideration of stakeholder interests; and
- amplify the voice of sustainable business and for-profit social enterprise through the power of the unifyingB Corporation brand.
Why are B Corporations important?
B Corporations help us tell the difference between a “good company” and just good marketing. This is important for employees who want to find a place they can bring their whole selves to work and for consumers, suppliers, and investors who want to support companies which make a positive impact on society.
Can Nonprofits Be B Corporations?
No. B Corporations are for-profit businesses that have embedded social and environmental responsibility into the way they do business.
What are the benefits of becoming a B Corporation?
Influence Public Policy:
- Create a new corporate form accountable to stakeholders
- Establish tax incentives and procurement preferences for sustainable business
- Drive higher impact social investing through the creation of impact investing standards
Support your Business:
- Be recognized as a leader
- Save money (e.g. 75% discount on Salesforce)
- Maintain mission as you grow, raise capital, sell, or plan succession
- Differentiate through third party certification
How do you become a Certified B Corporation?
Meet performance standards by achieving
- a passing score (80 out of 200) on the B Ratings System™
- Meet legal standards by amending your Articles of Incorporation to include consideration of stakeholder interests
How many B Corporations are there?
As of January 2011, there are over 365 B Corporations in over 30 industries, representing a $1.2 billion marketplace. Over the next few years, these numbers will grow to hundreds of B Corporations and a multi-billion marketplace, all building collective voice for “good companies.”
Who are some of the other B Corporations?
The diverse community of B Corporations includes sole proprietors, national brands and global financial intermediaries, ranging from consumer product companies (Dansko, Method, Numi Organic Tea) to business suppliers (Care2, PhilanTec, PICnet, Mal Warwick Associates, BBMG, Give Something Back, New Leaf Paper); from law firms (Hanson Bridgett, Lara Pearson) to local businesses (White Dog Café, Village Books). These companies also represent diverse areas of impact, including environmental practices (Icestone, Seventh Generation), employee engagement (King Arthur Flour, Workplace Dynamics), charitable giving (BetterWorld Books, Untours), or serving low income communities (Agora Partnerships, Indigenous Designs). Who certifies B Corporations?
Who certifies B Corporations?