2022 SPC Report
What’s a Social Purpose Corporation, Anyway?
Did you know that not all businesses make maximizing profit their primary focus?
A Social Purpose Corporation (SPC) is a for-profit corporation that recognizes a broad range of stakeholders and promotes a positive impact beyond its net profits. In other words, SPCs exist as legal entities for businesses wanting explicit leeway to make decisions based on social or environmental issues rather than the bottom line.
Dayspring Partners is a software development, web design, and brand consulting firm registered in California as an SPC (Social Purpose Corporation).
We desire to provide excellent work to our clients while simultaneously living out our core values: generosity, mercy, and care for our neighbor. We recognize that we’re able to use our skills and standing as a company to contribute to the Common Good in unique ways.
As an SPC, we put significant effort into three focus areas: our company’s workplace, the work we do in the marketplace, and the ways we serve and build up our local community.
Dayspring believes that the way we relate to one another in the workplace matters quite a lot. We seek to be a compassionate and just workplace where employees are seen as people first, and not just the output of their work.
A 2021 report by the Economic Policy Institute records the CEOs of America’s largest firms making 399 times more than the average rank-and-file employee (the figure is even higher when compared to the lowest-paid employee). At Dayspring, we level out salaries and proactively monitor our highest-to-lowest salary to reverse a trend that goes against our core values.
We want to be a good place to work where interactions are based on our mutual care for one another and a desire to look out for the whole.
We continue our efforts to recruit a broader diversity of people as employees of Dayspring, and we make decisions out of a desire to see individuals thrive, never competition or selfish interest.
In the marketplace, Dayspring commits to serving our clients in ways that nurture, rather than exploit, the relationship. We see each project as an opportunity to care deeply for our client, each of whom faces different pressures and demands from particular economic realities, marketplaces, and economies.
From working with startups, to nonprofits, to biotechnology spinouts, to sports apparel platforms, we are grateful for the trust our clients have placed in us and the stability of our relationships over the years. Each day, we are encouraged by the work they do in the world.
We’re grateful to have been a part of the AAPI Equity Alliance, Chinese For Affirmative Action, and their co-sponsored initiative, Stop AAPI Hate. We’re eager to see how Listen4Good continues to equip various nonprofits with the process and tooling to listen and respond to their clients’ feedback.
By contributing justly to the marketplace and working with integrity, we hope that these are all small ways our work helps to make the world a better place.
Despite a rapidly globalizing economy, Dayspring remains committed to participating in and giving back to the local community. As a business rooted in the Bayview-Hunters Point, San Francisco, we determine to donate 5% of our staff time and 10% of profits to other organizations in the neighborhood.
In 2022, over 10 staff together donated over 2727 hours in service to the Common Good, amounting to roughly 6% of 2022 staff hours.
The majority of our efforts towards the Common Good have gone to Rise University Preparatory, a high school with the aim of bringing quality education to Bayview. In addition to donations of staff hours for student tutoring, software internships, event branding, or website redesign, Dayspring has continued its extra commitment of funding a full-time position at Rise through the 2022-2023 academic year.
Goodbudget, Our Custom App
For better or worse, money matters in our lives. When Dayspring launched its first mobile app in 2009, it did so with the idea of improving people’s lives by helping them align how they spend their money with their core values. Our solution was Goodbudget, a budgeting tool that helps you track your spending, whether you have your own individual budget or share one with a household. Based on customer feedback, we have witnessed that when people’s relationship with money improves, their overall lives can too.
In 2022, our product team continued its focused support of budgeters in financial distress through features that support debt tracking and payoff, and online courses for people who’ve hit a financial emergency. We also rolled out new functionality to help people prioritize their budgets when cash flow is unpredictable or insufficient to cover everything. It is gratifying to see Goodbudget users making financial progress in the midst of challenging times.