PhilanTech, LLC and B Lab announced today that PhilanTech, a founding B Corporation, has been recertified as a B Corporation, continuing as part of a network of over 300 leading companies in a movement to build a new corporate standard for social and environmental performance.

B Corporations are a new kind of company which uses the power of business to solve social and environmental problems. To become certified as a B Corporation, companies must meet comprehensive and transparent social and environmental performance standards, as well as amend their corporate by-laws to incorporate the interests of employees, the community, and the environment. Companies must also agree to undergo an audit of their business practices once every five years.

PhilanTech has included social and environmental responsibility in its corporate DNA since the day it was founded. Its flagship product, the PhilanTrack online grants management system, helps social sector organization manage grant-related information more efficiently to reduce transaction costs and increase social impact. Moving paper-based processes online reduces the environmental impact of the grant administration process, and streamlining the flow of information between grant makers and grant recipients helps those organizations use resources more efficiently to increase their social impact.

"As a founding B Corporation, PhilanTech is committed to a high standard of social and environmental performance," said Dahna Goldstein, Founder of PhilanTech. "We are proud to be a part of this ever-growing community of business who believe that business as usual means having social and environmental bottom lines, in addition to a financial bottom line. PhilanTech works with organizations affecting positive change, and we hold the same values they do."

PhilanTech is the only grants management provider that is a certified B Corporation.

About B Corporations
Certified B Corporations 1) meet rigorous standards of social and environmental performance; 2) legally expand their corporate responsibilities to include consideration of stakeholder interests; and 3) build collective voice through the power of the unifying B Corporation brand. As of June 2010, there are over 300 certified B Corporations from over 50 industries, representing a diverse multi-billion marketplace.

About B Lab
B Lab is a nonprofit organization dedicated to using the power of business to solve social and environmental problems. B Lab drives systemic change through three interrelated initiatives: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between "good companies" and just good marketing; 2) accelerating the growth of the impact investing asset class through use of B Lab's GIIRS impact rating system by institutional investors; and 3) promoting supportive public policies, including creation of a new corporate form and tax, procurement, and investment incentives for sustainable business.

Find out more at www.bcorporation.net.

About PhilanTech, LLC
PhilanTech creates and provides technology to help social sector organizations do what they do....even better. Through innovative online products and services, PhilanTech helps organizations maximize social impact while minimizing environmental impact. The PhilanTrack online grants management system helps funders and grant recipients streamline the grants administration process to focus more resources on program and service delivery.

Find out more at www.philantech.com.

PhilanTech, LLC

PhilanTech, LLC

PhilanTech is a social venture dedicated to using technology to help social sector organizations to maximize service delivery and social impact.

With over $42 billion in grants made annually by foundations and 13% of every grant dollar spent on grants administration, the sector is losing over $5 billion worth of possible impact every year. PhilanTech's suite of products is designed to address efficiency, accountability, and transparency needs in the social sector.

The PhilanTrack® online grants management system centralizes and streamlines grant proposals, reports and management to enable valuable resources to be redirected towards service delivery and greater social impact.

PhilanTech is a founding B Corporation (www.bcorporation.net). B Corporations are setting the standard for social and environmental responsibility.

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