It’s our aim to empower our impact partners to serve vulnerable communities with sustainable solutions, and to also offer you transparency and connect you with the impact you’re making with your Thankyou purchase. As we’ve grown, we’ve needed to evolve our funding process to make sure we’re achieving this goal.
Historically, at the start of each year, we’d commit an amount of funding to specific projects based on our forecasted profit for the year. We’d then pay off the commitment each quarter over the next 12 months. All of this work was done in advance, allowing you to see the project your product will fund, the moment you track.
Where is got challenging was predicting our commitment and profit forecast so they lined up perfectly, because it’s hard to predict 12 months into the future. And as we got bigger, things got a little more complex. Committing money to our partners in advance from over 55 products stocked in thousands of retail outlets in Australia and soon in New Zealand is difficult.
So now, rather than committing funds before they’ve actually come in, we wait until the end of the year (when we know exactly how much we have to give) and then commit funds to our project partners. So we’re now committing and giving at the same time.
Like any other company, we need to allow time for auditors to review the year’s financials. When the review is complete, we’ll then commit the funds. Based on this, it may take up to 17 months for us to connect you with your impact – depending on the timing of your product purchase and track. That’s why it’s important to sign up, so you can get a notification once your product is assigned to an impact project.
This makes life a lot easier for our partners on the field, who are serving vulnerable communities to plan more strategically to achieve effective and sustainable outcomes - that’s a win in our book.