Forming Circles, a social and ethical investment organisation, has pledged the final $100,000 required to launch Good360 Australia’s innovative software platform, the Good360 GivingPlace.
It is this platform that will underpin Good360’s operations in Australia once they launch.
Following this, Good360 Australia has now moved into development stage, and will be ready to launch across the country in time for Christmas 2014.
What is Good360 and what exactly do they do?
Good360 is based on a really simple concept: they connect businesses that have excess goods with the charities that need them.
They do this by providing an e-commerce marketplace to redistribute these surplus goods.
You know how eBay connects people who have with people who want? Well, Good360 is like the eBay of charity, connecting corporates who have with people who need.
Be they retailers, wholesalers or distributors, all businesses are welcome to generously donate whatever non-perishable, like-new products they have in excess.
Good360 redirects those products to charities nationwide, who in turn donate them to the local individuals, families and organisations in greatest need.
Good360 has operated in the US for 30 years, redistributing over US$8 billion worth of products, and is consistently recognised as one of the country’s most efficient charities.
A great idea from the other side of the Pacific
Having built a successful three decade track record in the US, Good360 is now being established in Australia under the strong leadership of Alison Covington.
Once Good360 Australia is up and running nationally, charities of every size and cause all over the country will be able to access vital product enabling them to grow their reach, strengthen their impact on the ground and also save some bucks.
In fact, Good360 Australia estimates that it will redistribute A$100 million worth of product from corporate to charities within its first three years.
Renata Cooper, founder and CEO of Forming Circles is in the unique position of being Good360 Australia’s founding donor, with an initial donation of $15,000 in May 2013, and also being the final contributor to reach the critical $350,000 milestone required to launch the GivingPlace platform.
She started the relay race and also completed it? Not even Usain Bolt does that!
Covington hailed Cooper pointing out that her social impact investment loan of $100,000 means Good360 Australia is well on the way to launch by December this year, in time for charities and registered donors to request and receive goods by Christmas.
Renata, a long time investor in social, small business and literacy projects, said that Good360 Australia had remarkable potential remarking, “We have nothing like this in Australia – our investment in this is a win-win for charities, individuals in need, businesses and the environment.”
“Forming Circles is based on the power of giving and bringing about positive change in the communities around us; Good360 is an epitome of this belief,” she added.
Pictured above left to right: Alison Covington and Renata Cooper
