OUR 100% COMMITMENT
We didn't invent it, and want to literally keep it 100 when we say that we commit “100% of Profits to Charity”. You might also be wondering, Why?
"It’s not something we just thought up to boost sales, it’s not a play on words, and one shouldn’t need an accounting degree to understand it."
Again, not our words. They're the words of the late great Paul Newman's company, Newman's Own. I'll never forget the fateful day I discovered their company ethos on package of Newman's O's sandwich cookies. My mother was a public servant for most of her career, so there was always an underlying notion that we should always find a way to give back, in the eyes of my Immigrant Parents, pay back the nation that allowed them to Live the American Dream.
Their values & business model was something that stuck with me; while indulging my creative self working in retail & fashion and paying my dues on Wall St... I knew that when I struck out on my own, I would do it like Newman's Own.
It's one of the founding values upon which Broome St. General Store. It's at the heart of what we do and it motivates us everyday. We had the goal to transition into a Philanthropic Enterprise once we hit our 10 year milestone. To us, it meant that if we were still around, living our dreams and (hopefully) built a profitable business that we would find a way to really pay it forward and literally put our money where our mouths were.
At the onset of the pandemic, when we didn't know if our own business would make it to the other side, I read an article that compared Covid-19 to a "thousand-headed Hydra" that would leave no one unscathed. But the brutality of its impact would be exponential for those in adverse circumstances, people who are already disadvantaged.
It motivated us to stay the course, despite the effect of our efforts not being what we hoped, I realized that our contributions, however small, were better than nothing. While I have so much respect for peers that have seen a need for immediate fundraising to address of-the-moment causes, there is so much injustice & disparity that doesn't make it to the headlines. We wanted to truly address the intersection of Social Justice & Climate Change by disrupting the social enterprise business model and giving impact to the purchases you are already making for yourself, your home and your family.
In the simplest terms, when we say 100% of profits, we mean what’s left over (aka surplus, balance, difference) after normal business expenses are deducted from all the income we derive from sales from our retail & online shops. Like all businesses (commercial or nonprofit), there are normal business expenses required to operate Broome St. General, such as payroll, compensation and benefits, rent, cost of goods, travel & transportation, warehousing, marketing & advertising, supplies, occupancy costs, taxes, etc.
The past decade has armed us with the know-how to build efficiencies that allow us to scale, thereby driving results & profitability at an even faster rate. So it allows the 100% of profits, as defined above, to make a greater difference to Our Philanthropy Portfolio, as we grow.
We all want the time to do more. Travel, help our communities, eat/make delicious food, fight for the things we believe in, kick it with friends & family...
Turning the everyday act of shopping into multi-tasking event for Social Change allows us to further fulfill on Our Mission: To Give you More Time for the Things that Matter Most. We're not just a one-stop-shop for everything you might need for your journey. With every purchase you get the opportunity to change the world and leave this planet better than we found it.
The meaning of life is to find your gift. The purpose of life is to give it away.
Thank you for stopping by and taking a moment to read what we're all about. Even though we're a shop that sells things, one of our buying philosophies is that you should never buy anything that complicates your life (you know, something you don't really need). So you can make a direct contribution to the organizations we support here.
Here's to living this life (we all work so hard for) to the fullest!
C. Sophie Graham
Founder & CEO, Broome Street General