Founded on Generosity: How Charityvest Began

June 2, 2020
Venture articles

Generosity changes people

The Charityvest journey began years ago when the lives of Stephen & Katie Kump—newlyweds at the time—were totally changed by the radical generosity of a small community. The people in the community had one thing in common: a commitment to being generous with their resources. The way people in this community used their money and property to value and elevate the worth of other people as a habit was inspiring and transformative.

Stephen & Katie were beneficiaries of this generosity, but we're also invited into experience the goodness of living a life marked by an effort to be generous themselves. Stephen & Katie followed by committing to give away a percentage of their income away for the rest of their lives.

The power of giving is it pulls you outside of yourself, and meaningfully connects you to the stories of other people.

Giving is an avenue to experience some of the best parts of who we are. Through giving can see people overcome major obstacles with the help of generous backers, and we can also see self-absorbed people become more alive. That's what Stephen & Katie discovered.

Unfortunately, giving requires more hassle than it should.

In the years following that to commitment to give, as Stephen's career turned toward philanthropic consulting and helping others give strategically, he became increasingly aware of three things:

  1. Giving money away intentionally creates a substantial administrative burden (budgets, making gifts, tracking tools, receipts, etc.)
  2. A lot of money is commonly lost in processing costs (in both fees and nonprofit administration).
  3. A “donor-advised fund” could theoretically help most donors with #’s 1 and 2, but was not able to with existing technology.

With technology a better giving experience is possible

As an MBA student at the Yale School of Management, Stephen was able to devote time, energy, and resources toward the idea that technology could enable donor-advised funds directly to alleviate the admin hassle of giving, eliminate fees, and accelerate greater generosity, both for himself and others.

It takes a team

Convinced that generosity is about more than finances, he leveraged some of his greatest relational wealth and pulled in the friendship and talents of Jon Koon, CTO, and Ashby Foltz, COO, to activate the vision of Charityvest.

It's the aim of the Charityvest team to activate and multiply the generosity of everyday philanthropists, making giving a regular, seamless, life-giving experience for all.

The Charityvest founding team (our wives are on this team too!)

Founded on generosity

The company was initially able to launch because of the generosity of one individual who believed in the ability to use technology to spread generosity of others.

Generosity changes the game.

Create your Charityvest giving fund—it's free and takes 90 seconds.

Stephen Kump

Stephen is the chief of promoting generosity @ Charityvest. Former Bain consultant, philanthropic advisor, and military officer. Yale MBA.

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