Sage announces charitable 'Sage Foundation' for volunteering efforts

Accounting software company Sage announcedthe Sage Foundation on Tuesday, which looks to "set the standard for Corporate Compassionate Capitalism around the world."

All of Sage’s 14,000 employees will be able to contribute five days per year in order to volunteer with any non-profit organization they wish to support. The Sage Foundation will also award grants to create entrepreneurial opportunities for the disadvantaged within communities, as well as grants to match employee charitable donations and fundraising.

“It’s great to see plans for the Sage Foundation and its support for the philanthropic model we pioneered at Salesforce,” stated Marc Benioff, chairman and CEO of Salesforce. “By integrating philanthropy into its culture on a global scale, Sage can make a difference in the lives of millions of people around the world.” 

The Sage Foundation has created a model called "2+2+2:" donating 2% of employee time each year (5 days), 2% of free cash flow and 2 of Sage’s technology products for any charity, social enterprise or non-profit organization. The Sage Foundation will look to launch globally on October 1st, 2015.   

“At Sage, we care and are committed to enhancing the lives of the less fortunate in a meaningful and sustainable way," said Ivan Epstein, chairman of Sage Foundation and CEO of Sage Africa & Asia. 

"The Sage Foundation will provide support to non-profit organizations and communities around the world by sharing the resources of Sage," he continued. "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.”

For more information, head to Sage's sitehere.