Why Transferable is a Public Benefit Corporation
Transferable is a Public Benefit Corporation, which means:
- 1We have an expanded purpose beyond maximizing share value to explicitly include general and specific public benefit
- 2We are required to consider/balance the impact of our decisions not only on shareholders but also on our stakeholders
- 3We are required to report on our overall social and environmental performance
We chose this structure because we wanted to codify, into our legal documents, the importance of working for the benefit of students, community colleges, universities, and the higher education system as a whole. An education technology company is stronger when it includes student success as a core organizing value. Our achievements are inextricably intertwined with the achievements of our customers, and we recognize that by inserting the following language into our incorporating documents:
“The specific public benefit purpose of the corporation is to build products that support students on their academic journeys, having a positive impact on society through the advancement of educational attainment. We believe that every student should have access to educational opportunities that fit their unique interests, goals, and skillsets. Through our efforts to generate strong student outcomes, we further our vision of a high quality and sustainable system of higher education.”