Sage announced the launch of the Sage Foundation, with a model of charitable donations and employee volunteerism.
The foundation will enable employees to contribute five days a year in work time to volunteer with nonprofits of their choice. Additionally, the Sage Foundation will bestow grants for the young and disadvantaged and match employee charitable donations and fundraising.
The foundation is operating under a model of “2+2+2,” donating 2 percent of employee time each year (five days), 2 percent of free cash flow (equivalent to revenue gained from the nonprofit sector in FY 2014), and 2 percent of Sage’s smart technology products for any charity, social enterprise or nonprofit organization.
The Sage Foundation will be open for business globally Oct. 1, 2015. Nonprofits will be able to apply for donated Sage One, Sage Life or X3 products through the donation program.
"At Sage we care and are committed to enhancing the lives of the less fortunate in a meaningful and sustainable way," stated Ivan Epstein, chairman of the Sage Foundation and CEO of Sage Africa and Asia. "The Sage Foundation will provide support to nonprofit organizations and communities around the world by sharing the resources of Sage. We will help these organizations to create social impact by giving our time, money, expertise and technology. Sage is at the heart of millions of businesses around the globe who play a vital role in their communities. By partnering with the non-profit sector we will free organizations from operational complexity and enable them to run efficient, socially-driven organizations."
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