Sage today launches the Sage Foundation which sets the standard for Corporate Compassionate Capitalism around the world.
Each of Sage’s 14,000 employees will be able to contribute five days per year in work time to volunteer with any non-profit organization they elect to support. The Sage Foundation will also give grants to create entrepreneurial opportunities for the young and disadvantaged within communities, as well as grants to match employee charitable donations and fundraising.
The Sage Foundation has created a model of ‘2+2+2’: donating 2% of employee time each year (5 days), 2% of free cash flow* and 2 of Sage’s smart technology products for any charity, social enterprise or non-profit organization. This model demonstrates Sage’s commitment to philanthropic leadership in the FTSE 100. Driven by Sage’s ambition to connect its customers, colleagues and communities within an integrated model, the Sage Foundation will be open for business globally from 1st October 2015.
With tens of thousands of non-profit organizations as existing Sage customers, the Sage Foundation will enhance Sage’s relationship with charity and social enterprise. Non-profit organizations will be able to apply for donated Sage One, Sage Life or X3 products, through the newly created Donation program.
Ivan Epstein, Chairman of the Sage Foundation and CEO of Sage Africa & Asia said: “At Sage we care and are committed to enhancing the lives of the less fortunate in a meaningful and sustainable way. The Sage Foundation will provide support to non-profit organizations and communities around the world by sharing the resources of Sage. We will help these organizations to create social impact by giving our time, money, expertise and technology. Sage is at the heart of millions of businesses around the globe who play a vital role in their communities. By partnering with the non-profit sector we will free organizations from operational complexity and enable them to run efficient, socially-driven organizations.”
“It’s great to see plans for the Sage Foundation and its support for the philanthropic model we pioneered at Salesforce,” said Marc Benioff, Chairman and CEO of Salesforce. “By integrating philanthropy into its culture on a global scale, Sage can make a difference in the lives of millions of people around the world.”
Sage UK and Ireland Managing Director Lee Perkins, added: “So many companies treat Corporate Social Responsibility as a tick-box exercise which completely misses the point. Lots of Sage employees are already involved in volunteering and grant programs –we’re extending and building on this. We are passionate about our communities and we want to give our colleagues the tools and encouragement to go out and work with the organizations and causes they really care about. We want employees to bring their values and passions into work with them.”
*The Sage Foundation will benefit from Sage revenues from the non-profit sector; notionally ‘2%’ of free cash flow is equivalent to revenue gained from non-profit sector in FY2014.