President and CEO George Stevens announced today an anonymous corporate donor contributed $460,000 to the GoodCoin Foundation of which $61,000 was immediately distributed to Hurricane Harvey relief efforts in Texas. The remainder will be distributed in the next few weeks to over 100 small-scale local nonprofit organizations in parts of Texas, Florida, and Georgia affected by hurricanes Harvey and Irma. In a series of Facebook posts Stevens explained that in times of widespread disaster-related disruptions smaller nonprofit organizations suffer disproportionately as donors shift their giving toward larger disaster relief organizations. Thus a hurricane hits smaller charities twice; once literally when the storm arrives, damaging infrastructure and shutting down services, and then again, figuratively when their recovery efforts are hampered by reduced contribution revenues.
This donation and the charity recipients are consistent with the GoodCoin Foundation Board's interest in encouraging the next generation of philanthropists by linking purchases to a customer's sense of purpose. The nonprofit organizations receiving GoodCoin Foundation grants are selected based on the suggestions of the anonymous corporate donor's customers, employees, and guests in 45 of their retail outlets in the affected areas.