Philanthropy should be integral to business

Encircle is a non-profit organization dedicated to bringing families and communities together to empower LGBTQ youth to thrive Larsen said, “Encycle’s success depends on the incredible generosity of both individuals and businesses to achieve this mission.

“Where the purpose of business is profit; Nonprofits aim to solve difficult social problems. Both are essential to thriving communities. Nonprofits cannot fulfill their missions without a commitment to generosity and philanthropy,” says Larsen. Collaborations between for-profit businesses and nonprofits can help philanthropic gifts reach their highest potential.

Clark believes that Utah’s for-profit businesses can also benefit from developing a culture of philanthropy from their inception, pointing to the success of several business leaders in the state who have led their businesses with philanthropy as a core value. “We’ve all seen the legendary generosity of the Eccles, Millers and Huntsmans over the decades, but it’s important to remember that doing good doesn’t take a generation-old family foundation. The next generation can and should give everything as our business grows,” said Clarke.

For evidence of Clark’s philanthropy first theory, look no further than Utah itself Cotopaxi. Utah’s first certified benefit corporation was established with philanthropy as its core value. When Cotopaxi launched in 2014, the mission to eradicate extreme poverty and show that businesses can be a force for good in the world was uniquely at the heart of its brand proposition.

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Davis Smith, Cotopaxi’s founder and CEO, attributes the company’s success to a deep commitment to giving back. “For the first five years of Cotopaxi’s history, we paid more than we earned. It took a lot of courage and faith to take the step of putting our purpose and mission ahead of profit,” said Smith.

Cotopaxi uses a holistic approach to fighting poverty by pledging a percentage of revenue to anti-poverty efforts, skills-based volunteerism, and product donations. Last year they helped around 1.3 million people living in poverty through their Cotopaxi Foundation. The company is climate neutral certified, a member of 1 Percent of the Planet and recently backed by Bain Capital Double Impact, Bain Capital’s $1.2 billion impact fund.

“I think about what made Cotopaxi successful, we believe it’s bold The optimism of everyday people choosing to support responsible capitalism. The future of capitalism has consumers and employees deeply committed to their communities, protecting our planet and giving their time and money to put stakeholders ahead of profit. Ultimately, I believe that doing good and doing well are not mutually exclusive, in fact, they will be inextricably linked as we work to create a better version of capitalism,” Smith said.

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The value of philanthropy is well recognized by business leaders statewide. This recognition has contributed significantly to Utah’s philanthropic reputation. “For a business community to thrive, it’s critical that philanthropy and service are priorities,” said Brandon FugalChairman of Colliers International, and one of Utah’s most prominent real estate and business leaders.

Fugal himself is no stranger to philanthropy and is recognized in the state for his generous donations. “Supporting worthy causes, including scholarships and programs at Utah Valley University, including fighting abuse SapriaGrants to homeless initiatives, and advancing women in technology Tech-mum will continue to be an important part of my personal mission. I am personally grateful for the opportunity to join others in working together to improve our community,” said Fugal.

Recently, Clark returned to Clearlink, a company he started more than 20 years ago, sold more than 10 years ago and bought back in 2021. Recognizing the importance of business-led philanthropy in the state, Clark is interested in seeing the company expand on its history of giving. To increase Clearlink’s corporate responsibility footprint and increase the company’s impact, Clarke will help the company establish two new philanthropic channels, Clearlink Cares and Clearlink Causes.

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Clearlink Cares will support the volunteering efforts of all Clearlink employees in the community, Allows Clearlinkers to engage with their surroundings in a way that reflects their passion Show up for others and give them your time and talents. Clearlink Causes Clearlink focuses on enabling employees to direct dollars toward organizations that make the biggest impact in their lives and in their communities, as Clearlink will provide a 1:1 donation match, up to $1,000 per employee per year. The initiative was seeded with a $100,000 grant from Andrea and James Clark.

A legacy of service and philanthropy like those mentioned here is what makes Utah so strong. Any business, whether small or well-established, should prioritize philanthropy as a development tool and drive toward goals, Clark said. Doing so directly strengthens communities and businesses alike and helps create a better Utah

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