So, earlier in the week I wrote about NPOs taking on the mindset of Wall Street. Bear with me as I continue on with that theme.
Here’s a bright idea: Bright Funds, a San Francisco startup takes a “mutual funds approach” to charity donations.
Donors choose a broad cause – poverty, education, health, water, or environment – and then Bright Funds allocates that money to a variety of nonprofits working on different aspects. For example, “water” includes organizations tackling clean water, sanitation, hygiene, and infrastructure. Your return on investment is not money, they explain, but “the knowledge that your charitable contribution is changing lives, saving resources, and discovering breakthrough technologies.”
You’ll also get updates on how the nonprofits are doing.
Ty Walrod, the cofounder of OutServe for LGBT equality in the military, started Bright Funds with startup veteran Rutul Davè, chief of products and marketing.
Bight Funds seems like a better way to give. What do you think?