Lemonade’s Giveback to the NYSPCC
The NYSPCC offers and promotes programs that prevent child abuse and help children heal. As the first child protection agency in the world, The NYSPCC provides counseling, legal, and educational services to respond to the complex needs of abused and neglected children, as well as those involved in their care.
Through the Giveback to The NYSPCC, the Lemonade community supported sexual abuse prevention workshops, which teach children what to do if they ever feel at risk. Using colorful puppets, these workshops provide children with the awareness and education they need in order to keep themselves safe, as well as tools to begin conversations with their peers and parents.
The 2017 Lemonade Giveback
Our total Giveback for 2017 was $53,174, and this number calls for some context: this amounts to 10.2% of our revenue. As a point of reference, the Fortune 100 give 0.08% of their revenues each year (CECP p.36). So if year-one is anything to go by, Giveback has the potential to 100X that benchmark. Time will tell, but early indications are encouraging.
We had 21 cause-centric-groups as of June 30, and 14 (66.7%) received a Giveback. Here’s a fun fact: among these 14 causes, an average of 18% of premiums were given to charity. These funds can go a long way when put in the right hands.
But it’s more than just numbers. Giveback amounts to a change in kind, because it isn’t dependent on profits (Lemonade hasn’t turned a profit yet). We think of Giveback as a social contract among our community, where the size and allocation is determined not by our big profits or big hearts, but by the good fortune and good behavior of our members. Remember, it’s not our money.
As our Chief Behavioral Officer Dan Ariely explained, “it’s money our community has entrusted to us, first and foremost to help our members recover from unfortunate events in their lives, and secondly, to help the less fortunate in our broader community.”
Share your NYSPCC impact, and read more about our 2017 Giveback here.