In the fall of 2005, Stephen Kump and Jon Koon became fast friends and fraternity brothers at Georgia Tech. When they became roommates, they often theorized the excitement of starting a company together. Their complementary values, personalities, and skillsets have sustained that dream ever since.
In 2015, Stephen had an idea that led him to step away from philanthropic consulting to pursue a Masters in Business Administration at Yale University’s School of Management (SOM). Having seen the ease and strategy afforded to major donors through the use of “donor-advised funds,” Stephen wanted to recreate the business model so that the average donor—and the organizations they care about—could enjoy the same benefits. Throughout the course of his first year at Yale SOM he worked with global experts in nonprofit, finance, entrepreneurship, strategy, and marketing sectors validate a business model that creates giving funds for every donor.
The product of this process is Charityvest, a free platform to provide digital funds, information, and engagement for donors. Charityvest not only simplifies and enhances the giving experience for donors, but it also saves time and money for nonprofits, allowing them to accomplish greater good in the world.
As Stephen established the business model for Charityvest, Jon was the first person to whom Stephen reached out about conceptualizing Charityvest’s development. Jon officially joined the organization in early 2016.
Later in 2016, the Charityvest team was awarded a Summer Fellowship from Yale University to pursue the development of the platform. Melissa Auth, Jessel Patel, Gene Sussman, Katie Kump, and Andrew Harris all joined the effort during this period to help make Charityvest a reality.
“Charityvest” is the marriage of the two words that best encapsulate the vision we have for the charitable marketplace: charity and invest. In the same way that investors care about the outcomes of their investments because they have ownership, the ethos of Charityvest is about helping donors to be more “vested.” We want to enable donors to own the impact they have through the good work they support financially. Charityvest is a platform that serves to close the gap between donors and nonprofits by creating mutual ownership of outcomes.
Check out our blog for more information on why the donation process needs to change, how Charityvest turns donors into partners, and how charity funds are the right tools for both donors and nonprofits.
Charityvest is a community of people who believe that the world can and should be better. It’s our vision that Charityvest will catalyze a movement of fresh engagement in charitable giving, creating deeper, broader, systemic impact over the next generation.