Impact Makers has transferred 100 percent of the company to The Community Foundation and Virginia Community Capital.
A Richmond company’s philanthropic efforts have resulted in an unusual gift: It has turned over full ownership of itself to two local nonprofits.
Impact Makers, a local IT and management consulting firm based in Scott’s Addition, announced Tuesday that it has transferred 100 percent of the company’s equity ownership stake to The Community Foundation and Virginia Community Capital. The transaction is a formalization of a commitment CEO Michael Pirron made when launching Impact Makers in 2006.
The idea is that over time, as the company’s value grows, the nonprofit can sell its shares and cash in. It’s a very interesting concept.
Photo: Katie Demeria/Richmond BizSense