Most kids spend their summers playing video games and bugging their parents to keep them entertained, but eight-year-old Aidan Gilbert is making a philanthropic impact by competing with his dad in Portfolios with Purpose.
Portfolios with Purpose (PwP) is a non-profit institution that hosts an annual fantasy stock selection competition in which participants compete on behalf of their favorite charities. Aidan's passion for the stock market is impressive, but even more inspiring is his leaderboard status, among the top three in a field of adult PwP competitors. While there are still 5 months left in the competition with first place award amounts from over $110,000- $37,000 to be awarded to the players charity of choice.
"The mission of Portfolios with Purpose (PwP) is to raise awareness and support for impactful charities by providing them with a platform to reach new potential supporters and donors," said Jim Hiltner, Director of Charity Relations for PwP. "PwP accomplishes this mission by hosting an annual fantasy stock selection competition in which participants compete on behalf of their favorite charities."
"Through this contest, individuals are able to pool the resources of the group to make a significant impact on high-quality charities, especially those that are small, underfunded, and under the radar."
The Center for Transparency, Aidan's charity of choice, is just that type of agency. Founded in 2014, The Center is dedicated to providing clarity regarding the profits and contributions made through cause-related marketing campaigns.
Although not as well known as the other agencies on the PwP leader board -- such as American Red Cross and Wounded Warrior Project -- The Center works to protect and ensure that all nonprofit brands used to promote retail products and services are not exploited. Equally important to The Center is providing consumers with the details necessary to make an informed decision before assuming their purchase will benefit a charitable cause.
What started with a young NFL Cheerleaders experience, and her questions about the funds generated by the NFL's "Crucial Catch" breast cancer campaign has grown into an organization that works to reward companies who are transparent about their campaigns and exactly how much money will be contributed to their selected nonprofits.
For instance, a corporation may state that a portion of net proceeds from pink products goes to benefit breast cancer research, but increasingly, it's become evident that this isn't the case. A report released by Business Insider found the NFL donates only eight percent of sales to breast cancer research. Currently, The Center for Transparency is conducting an investigation into the accounting of the related tax documents to this case.
Aidan Gilbert understands the value of giving back and that knowing where your money goes is a critical component to choosing how to give. His parents are so proud of his accomplishments and committed to giving to causes greater than themselves.
Eric Gilbert, Aidan's father explains their work as, "a relentless pursuit of improving and expanding humanity's heart condition through the act and art of giving."
When asked about how they chose their charity Eric explains: "With the Center for Transparency it changes the paradigm of giving."
The Center for Transparency was born from the need to create new mandates at the federal level to protect consumers from disingenuous promises about the charitable impact, no matter the beneficiary. Eric and Aidan's support, as well as the acceptance into the Portfolios with Purpose competition, is further validation that the Center for Transparency is a key component to future transparency.
Please see The Center for Transparency's website or contact Jim Hiltner, Portfolios with Purpose's Director of Charity Relations, for further information.