Encast has a pretty significant revenue model. But we will also be doing a lot of good in the world.
For one, most nonprofits lose significant amounts of their donations to bank and credit card fees. We believe in the concept of having a double bottom line and we are committed to fee-free charitable transactions. Encast is doing everything we possibly can to ensure that every penny of money given to charity makes its way into the hands of charitable causes and works for them. We also want to be the easiest way to track volunteer hours: yet another way of measuring impact for the nonprofits you love.
This, of course, begs the question: how do we make money? We developed a way to grow our business by enrolling businesses with social impact in their DNA.
Those businesses also want to have a double bottom line. They hope to make a difference in the world. They want to be remarkable to their shareholders and their customers and their employees because they are giving back, too. If a company gives an employee the privilege of participating in a program that allows them to engage in charitable giving, inevitably, that makes them happy, and they also, ultimately, bond with their employers over the shared value of giving back.
We consistently find that this dynamic of giving brings them out into the community and gives them the ability to put their company in a really positive light. The end result is happier customers. Research shows that the happier your employees are, the happier your customers are going to be. If those two characteristics exist, your company will earn more money, have happier shareholders, and a healthier profit margin.
Encast is committed to delighting its customers with best-of-breed services. Our revenue model has businesses pay a subscription fee for our employee benefit. In return, employees make fee-free payroll deduction donations, track volunteer hours, and connect with co-workers and their community in deeply meaningful ways.
We believe Encast has converged a business model with a goal of accomplishing social good, and that may be more important than just creating a successful startup. Business is changing. Encast is a model for how it's changing for the better.