Contribution from ShipCompliant means big impact for local nonprofit
The Entrepreneurs Foundation of Colorado (EFCO) today announced it will distribute a generous grant to The Community Foundation Serving Boulder County. The grant is made possible because Boulder startup ShipCompliant elected to share a portion of its sale proceeds with the community. ShipCompliant recently merged with Sovos Compliance. ShipCompliant’s team chose to support The Community Foundation, in partnership with Cooley LLP, because of its work on behalf of Boulder County nonprofits that contribute to strengthening their community.
“It’s gratifying to share a portion of our success with the community that helped us build a durable and impactful business,” said Jason Eckenroth, Founder and CEO of ShipCompliant. “This is where our employees live and work. We know that offering a high quality of life is key to our ability to attract and retain competitive employees. Our local nonprofits play a big role in driving that quality of life. We’re proud to make this contribution and the impact on our community amplifies our feeling of gratitude.”
The Community Foundation’s President Josie Heath echoed that enthusiasm.
“This is a significant gift for us,” Heath said. “Even though the local economy feels strong, there are many in our community struggling with the challenges presented by poverty. In particular, Boulder County’s poverty rate exceeds the state’s, with an increasing number of children living below the poverty line of $24,250 for a family of four. This money will go into our Community Trust fund, which supports nonprofits across Boulder County doing work to improve the quality of life.”
ShipCompliant’s contribution to local nonprofits is the first via EFCO for 2015, which closed out a record year in 2014 for the number of members contributing to local nonprofits through successful exits. EFCO’s total impact on community organizations exceeds $3M since its first exit in 2008.
About Entrepreneurs’ Foundation of Colorado (EFCO)
Established in 2007, EFCO is a network of Colorado entrepreneurs whose companies have joined together to give back and share their success, which they do by gifting a portion of their founding equity or a portion of their yearly profits to the community. Founding members include Rally Software, Foundry Group, TechStars, Symplified, Tendril, and others.
Realizing cash is limited with start-up companies, EFCO works to encourage entrepreneurs throughout the region to earmark equity for their community early in a company’s inception. Upon a private sale or initial public offering, these shares become liquid and transfer into the community.
EFCO currently has 80 members and has distributed more than $3M to area organizations, in addition to hundreds of volunteer hours from its members and their employees. To learn more about EFCO, visit www.efcolorado.org or follow us on Twitter: @EFColorado. EFCO is a program of The Community Foundation Serving Boulder County.
ShipCompliant is the industry leader in creating SaaS compliance and transaction platforms for the beverage alcohol industry. The company makes products people use and love, reducing time to market and enabling new sales channels for wineries, breweries, distilleries, and importers of beverage alcohol products. ShipCompliant’s comprehensive web-based tools offer robust and seamless integration with order management, e-commerce, point-of-sale, and fulfillment systems, ensuring compliance at each step in the process.