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Smyrna, GA Start-Up to Donate 100% of After-Tax Profits... Forever.
Company's Profits To Benefit Orphans in Need; All 2012 Profits to Fund Adoption-Assistance Grants for Georgia Families
SMYRNA, Georgia (April 30, 2012) – A Smyrna-based start-up is turning conventional business wisdom on its head; instead of paying dividends and purchasing golden parachutes for executives, ValuStop, Inc. will donate 100% of after-tax profits toward caring for orphans. Today, ValuStop announced that all 2012 profits will fund grants assisting Georgia families with their adoption expenses. "Although many Georgia families are willing to adopt, they simply cannot afford to pay for all of the expenses involved," says ValuStop founder Michael Mason.
The typical adoption usually costs anywhere from $10,000 - $45,000. This enormous cost presents an insurmountable obstacle to most families. Currently, there are over 500,000 children in the United States foster care system and an additional 16.2 million children worldwide who have lost both parents. "If we focused on how large the problem is, we might develop a defeatist attitude. Instead, we are choosing to remember the individual child who will know the joy of belonging to a 'forever family'," says Mason. All after-tax profits for 2012 will be donated to Show Hope, a Franklin, TN charity started by Contemporary Christian recording artist Steven Curtis Chapman. Since Show Hope's inception, the organization has distributed over 2,000 adoption-assistance grants to families all over the United States.
ValuStop follows in the footsteps of philanthropic giant Newman's Own, Inc. whose objective has always been "shameless exploitation in pursuit of the common good." (Newman's Own is a for-profit company who has donated 100% of profits to charity since its founding in 1982. To date, the company has donated $330 million to various charities.) "In 50 years, we want to look back and see that we made a difference in thousands of kid's lives," says ValuStop Vice-President Dr. Kimberly Mason. Michael Mason will serve as a salaried employee of the company subject to company-specified compensation limits. The company will publish an audited financial statement each year disclosing the amount donated for the year along with the amounts of any salary paid to shareholders. For 2012, Mr. Mason's salary is capped at $20,000. Dr. Mason is not presently receiving any compensation for her services. In the event that the company is ever sold or acquired, all net proceeds will be distributed to charity.
To celebrate the company's grand opening, ValuStop will be giving away free $20 Shopping Spree Certificates good at any ValuStop Merchant in Metro-Atlanta through the end of May. For more information, visit http://www.ValuStop.com/