Scarab Funds investee Communally named as ”Best for the World”
Scarab Funds is delighted to announce that for the second year in a row, our investee company, Communally has been recognized as one of the Top 10% ‘Best for the World’ positive impact businesses based upon the company’s B Impact Assessment, an independent, comprehensive assessment administered by the non-profit B Lab. In addition, Communallyranked in the Top 10% for both the Governance and Customer portions of the assessment.
Communally helps low- and moderate-income individuals and families move from Crisis to Choice® – that being, from the crisis of poverty to being able to make real choices in their lives through the practical application of innovative technology, public policy expertise, and community outreach.
Kenneth von Rausch, Managing Partner of Scarab Funds, said: “It is an honour to work with Communally to give people in crisis the ability to make life-changing choices. Our investment mandate is to facilitate the creation of the Future-Fit® world by providing an innovative suite of financial products, deployed to provide at or above market returns for investors, whilst funding the delivery of “positive pursuit” projects that are economically sustainable as well as socially just and environmentally restorative. With Communally, we do just this.”
According to “Hidden Help”: The Poverty Assistance Report released by Communally earlier this year, annually $53.3 billion, allocated for government poverty assistance, does not reach those who need it the most: children, mothers, the elderly and many more in our communities. Available as SNAP, EITC, Medicaid for Children and CHIP, these dollars remain unclaimed year after year. Lack of access to and awareness of these benefits increase the destabilizing effects of poverty on those in great need.
Chris Jacobs, Communally CEO explained: “We partner with community-based organizations to use our technology to connect individuals and families to the benefits, income supports, and referral services they need to lift themselves out of poverty. No other organization matches our ability to build expert systems driven by in-depth public policy research and implemented through a celebrated model of community outreach.”
“With the rise of anger at a system that feels rigged, people are hungry for companies like Communally, who are changing the system by building businesses that seek to create the greatest positive impact,” says Jay Coen Gilbert, co-founder of B Lab. “Best For The World is the only list of businesses that uses comprehensive, comparable, third-party-validated data about a company’s social and environmental performance. As consumers, talent and investors increasingly demand transparent, values-aligned businesses to buy from, work at, and invest in, companies will need to not just be the best in the world but the best for the world. Not just to be nice—but to be the most successful.”