B Lab is a nonprofit organization dedicated to using the power of business to solve social and environmental problems.
©Copyright 2012 B Lab. All rights reservedAbout Social(k)
Social(k) provides a paperless retirement platform for 401(k) and 403(b) plans, with more socially responsible and faith based screened funds than any other platform available. It has an open architecture platform; it does not force you to use funds from any specific group or fund family. Social(k) is fully bundled and offers full service recordkeeping, testing and annual reporting.
Becoming a Founding B Corporation was an easy decision for Social(k). Our company mission statement and goals are perfectly aligned with those of a B Corp.
Social(k) is committed to working with companies looking to make a positive impact to the local and global communities we all share. Currently the company is making an annual donation to Heifer International for each plan, every year the plan is with Social(k). This has allowed Social(k) to be a proud member of 1% For The Planet; even Social(k)'s B Corp certification fees count toward 1% FTP contributions.
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The Change We Seek®
Social(k) works with sustainable and responsible businesses to allow employees to invest with principle and avoid mutual funds that hold companies they would rather not own. The company also donates 8.5% of annual pre-tax profit to charity.
• Social(k) provides over 2000 funds for companies and their financial advisors to choose from. Included in these funds are Socially Responsible funds, Judeo Christian funds and traditional funds; which include actively managed funds, index funds, and lifestyle funds. Socially responsible investment portfolios rival and often exceed the return of traditional portfolios, and Social(k) ensures that your plan includes funds that will compete with non-SRI retirement plans.
• SRI funds use both positive and negative "screens" within the context of rigorous financial analysis. Positive means the companies in the fund may support alternative energy, or have a strong record on human rights and labor issues, among others, while negative screens may exclude companies involved with alcohol, cigarettes, guns, or nuclear power as well as those with egregious human or labor rights or environmental problems. The company uses these screens to eliminate unlikely companies immediately and shifts its focus to evaluating and selecting only the most responsible companies for its portfolios.
Founding B Corporation
Social(k)
- Industry: Investment Advisor
- Product/Services: Retirement Plans
- Location: Springfield, MA
- Ownership: Private
- http://www.socialk.com
Summary:
Certified: October 2007| Points Earned | % Points Available | |
|---|---|---|
| Accountability » | 15 | 100% |
| Employees » | 0 | 0% |
| Consumers » | 30.8 | 48% |
| Community » | 97.5 | 89% |
| Environment » | 13.6 | 68% |
| Composite B Score | 156.9 |
- >80 out of 200 is eligible for certification
- >60% points available = Area of excellence
Highlights:
From B Impact AssessmentConsumers: 80% of investments in socially responsible retirement plans - nearly 200 options
Environment: More than 3/4 of office supplies come from recycled materials, >50% of carbon inventory offset
Community: Donates 8.5% of profits to charity; >40% of expenditures directed toward local suppliers, 20-30% of suppliers located in low-income communities