Business for Good
American charitable organization
From Wikipedia, the free encyclopedia
Business for Good Foundation is a 501(c)(3) non-profit foundation based in Saratoga Springs, New York.[1] It was founded in 2020 by philanthropists Ed Mitzen and Lisa Mitzen.[1] Business for Good's goal is to address inequities that impact underserved communities in the Capital District, including food insecurity, housing instability, and education gaps.[2] The organization provides capital and resources to local businesses, communities in need, and minority entrepreneurs through donations, grants, and profits from foundation-owned businesses.[3][4]
| |
| Formation | July 2021 |
|---|---|
| Founder | Ed Mitzen, Lisa Mitzen |
| Type | Charitable organization, venture philanthropy |
| Headquarters | Saratoga Springs, New York |
| Location |
|
| Website | https://bfg.org |
In 2022, Business for Good received an honorable mention in Fast Company's World Changing Ideas Awards for Impact Investing.[5]
History
In 2020, the Mitzen family purchased Bread Basket Bakery in Saratoga Springs, turning the eatery into an organization that donates all profits to local organizations fighting food insecurity.[6] The first donation was made in October 2020, of $25,000 to Troy-based nonprofit Capital Roots.[6]
Business for Good publicly launched in July 2021, when the purchase of Hattie's Restaurants was announced.[7][8] As part of the purchase, the original owners and staff kept their jobs, and were given raises and benefits.[9]
From January to October 2021, BFG donated $5.4 million in grants and resources to 25 local non-profits.[10]
BFG made a $1 million donation to the Mohawk-Hudson Humane Society in 2022, the largest in the shelter's 135-year history.[11]
In January 2022, BFG purchased the historic University Club in downtown Albany, and later donated use of the building to the newly formed Albany Black Chamber of Commerce & Social Club.[12] In May, the foundation donated $1 million to the three known living survivors of the 1921 Tulsa race massacre.[13][14]