Announcing Classy’s First Impact Report
Classy’s first Impact Report comes at an important time. As we celebrate our 10th anniversary and watch the world around us change by the minute, we’re feeling more grounded than ever.
That’s because nonprofits have risen to the occasion amongst a global pandemic, humanitarian injustices, environmental disasters, and economic distress.
For many of us, the first question we ask when we hear about someone or something in trouble is, how can I help? The answer is often donating to nonprofits who are responding to the crisis at hand. When we feel helpless, nonprofits make us feel like we can make a difference.
Classy’s mission is to mobilize and empower the world for good. We promise to connect people with the causes they care about through engaging and intuitive giving experiences and to help nonprofits be more relevant to supporters over time by providing technology and insights.
As nonprofits step up, we must too.
To us, the answer is not only building world-class fundraising technology that allows nonprofits to raise more but also holding ourselves accountable for doing good in the world. As a Certified B Corp and Public Benefit Corporation, Classy considers the virtuous relationship between the customers who use our technology, the employees who help build and service it, the community and environment in which we exist, and the financial partners who make it all possible.
The Stakeholder Model
The premise of the stakeholder model is to equally balance the needs of each stakeholder and never at the expense of another. It complements the Public Benefit Corporation status in that voting board members must consider the impact any decisions made would have on all stakeholders.
As you’ll see in the report, Classy’s stakeholder model was challenged this past year. As the world shifted, priorities were pulled in every direction.
We wanted to meet our employees’ health and wellness needs in a remote environment for our staff. For our customers, we wanted to build reliable technology for nonprofits on the frontlines of COVID-19, for social justice organizations responding to the Black Lives Matter movement, and to provide extra strategic fundraising support to the nonprofits who had important missions but weren’t in the news.
About the Report
The Impact Report is organized by Classy stakeholders. The data dives into our measured impact of the last three-quarters of 2020 and the first quarter of 2021. The Impact Report methodology is proprietary to Classy. Still, it is inspired by the B Corp Assessment, the industry-leading certification for businesses committed to a better world.
Since this year also marks Classy’s 10-year anniversary as a software company, we recognize this milestone throughout the report by telling the stories and celebrating the work of our incredible nonprofit customers who stood beside us throughout the years.
Some standout statistics from our Impact Report include:
- Nonprofits using Classy’s platform saw an average checkout conversion rate of 23%
- 68.8% of Classy customers grew their recurring donation volume in the past year
- Overall, Classy customers experienced a 314% increase in recurring giving subscriptions initiated
- 73% of Classy’s staff have been granted stock, stock options, or stock equivalents
- 55% of Classy staff connect Diversity, Equity, and Inclusion efforts to their intent to continue working at Classy
Thank you for participating in our first Impact Report and supporting our community. We believe in the power of transparency and partnership, and invite you to ask questions, challenge us, and converse with us in our collective drive to build a better world.
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