A Social Purpose Corporations is a for-profit corporations registered in the State of Washington that carries out its purpose under RCW 23B.03.010 in a manner intended to “promote positive short-term or long-term effects of, or minimize adverse short-term or long-term effects of, the corporation’s activities” with respect to employees, suppliers, customers, the community, or the environment.
Compensation Venture Group became one of the first SPCs in Washington in 2013 and adopted the following mission statement:
Compensation Venture Group, Inc. (CVG) assists organizations with allocating financial capital of the employer – cash compensation, equity compensation, benefits, and intangible work conditions – to employees and other workers through programs that optimize the financial and nonfinancial outcomes for both.
In addition, CVG invests in social impact companies, primarily through Fledge LLC, the conscious company incubator, and provides no-cost advisory services to those companies while in the incubator. CVG also offers a reduced fee structure for social impact startup and emerging companies.
CVG has created this revised Mission Statement to capture and communicate its emphasis on social impact companies and sustainable business practices. The Company has always operated in a manner that emphasizes:
- Flexible working arrangements and profit-sharing with employees
- Rigorous guidelines for ethical business practices and refusing new or ongoing work with clients who are seeking support for business practices that do not meet our standards
- Environmental responsibility, minimizing the use of paper, following a reduce/reuse/recycle program, and continually monitoring our business practices for improvement opportunities as resources change
- Seeking suppliers of products and services who support and practice principles of sustainability
- Transparent project budgeting and billing practices with full disclosure of time worked, hourly rates, and expenses with no “administrative charges” or other add-on fees
CVG attained certification as a B Corporation in 2013 and is in the process of renewing that certification.
CVG’s current investment portfolio includes equity and convertible debt positions in:
Fledge LLC, the conscious company incubator and accelerator
RealizeImpact, a not-for-profit organization whose mission is to fund and support impactful startups
Evrnu, SPC, a developer of bio-based fiber for renewal of cotton garment waste into premium garments
In 2015, CVG staff provided pro bono mentoring and consulting to companies enrolled in the Fledge program and through the Office Hours program at Impact HUB Seattle to HUB members creating impactful startups.
In 2015, CVG staff developed original content and delivered to professional audiences through conferences, seminars, webinars, and academic settings for organizations including:
- University of California, Irvine – Merage School of Business (Irvine)
- Employee Share Ownership Centre (London/Davos)
- Certified Equity Professional Institute at Santa Clara University (Santa Clara)
- Global Equity Organization (London)
- Western Pension and Benefits Conference (San Francisco)
- Academy of Management (Vancouver BC)
- Ambrose University (Calgary)
Fred Whittlesey created and developed the curriculum as an Adjunct Professor for the MBA-level course Total Rewards Systems at Seattle Pacific University and donated more than 50% of salary earned to the University earmarked to assist students with disabilities.