About 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. We have an open architecture platform; we do not force you to use funds from any specific group or fund family. We are fully bundled and offer 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 we are making an annual donation to Heifer International for each plan, every year the plan is with Social(k). This has allowed us to be a proud member of 1% For The Planet, even our B Corp certification fees count toward 1% FTP contributions.
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. We also donate 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 we ensure 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. We use these screens to eliminate unlikely companies immediately and shift our focus to evaluating and selecting only the most responsible companies for our portfolios.
Founding B Corporation
Social(k)
- Industry: Asset Management
- Product/Services: Retirement Plans
- Location: Springfield, MA
- http://www.socialk.com
Summary:
Certified: October 2007| Points Earned | % Points Available | |
|---|---|---|
| Environment » | 4.6 | 31% |
| Employees » | ||
| Community » | 51 | 59% |
| Consumers » | 27 | 33% |
| Leadership » | 13.7 | 83% |
| Composite B Score | 96.3 | 52% |
- >80 out of 200 is eligible for certification
- >60% points available = Area of excellence
Highlights:
2008 B Impact ReportEnvironment: >75% of office supplies come from recycled materials, >50% of carbon inventory offset
Community: >50% of ownership in same community as 2/3 of workforce, >40% of expenditures directed toward local suppliers, >15% of suppliers located in low-income communities, >10% of net profits given to charitable organizations
Consumers: 82% of services increase capital flow to purpose driven enterprises
