2017 SPC Report
According to a report by the AFL-CIO, S&P 500 CEOs made 347 times more than the average rank-and-file employee in 2016 (the figure is much higher when compared to the lowest paid employee). At Dayspring we believe that every employee deserves a more equitable share of income, especially as we reside in one of the most expensive cities in the country. We proactively monitor our highest-to-lowest salary ratio in an attempt to reverse a trend that we find difficult to justify and that goes against our core values. In 2017 that ratio was just over 2:1 (3:1 if you include our janitorial staff). This is our way of “filling in the valleys and bringing low the mountains.” (Isaiah 40:4, Luke 3:5)
The approximate ratio of highest to lowest salary at Dayspring
“There’s a lack of divisiveness that comes from feeling like you don’t need to secure your own well-being.”
Dayspring Team Member
“If someone messes up, we give each other grace rather than point fingers.”
Dayspring Team Member
“What I remember is when my manager apologized to me for being impatient.”
Dayspring Team Member
At Dayspring, we have a goal of donating 5% of our staff time. That time is split between organizations in our marketplace and those in our community, depending on the opportunities that arise each year. In 2017, 282 hours (approximately 1% of our staff time) were donated to serve organizations that provide mentorship and job training in our field or the larger marketplace. Among the organizations we worked with this past year are Seattle Pacific University (SPU), Abilene Christian University (ACU), and Jewish Vocational Service (JVS). Of course, sometimes the benefit is mutual: two of our hires this past year came through our connection to JVS.
The second way we try to positively impact the marketplace is by serving our clients in ways that nurture, rather than exploit, the relationship. We consider each project an opportunity to care for our clients, each of whom is under pressure to deliver by the rules of a cold, unsympathetic economy. Admittedly, these are “soft” efforts without hard metrics. But we are heartened by the fact that many of our clients have been with us for years, some well over a decade; and we are encouraged by the number of new clients who are referred to us by existing ones.
donated toward mentorship or job training
“We don’t play hardball with clients. We appeal to their humanity.”
Dayspring Team Member
“In a world filled with ‘I am smarter than you’ attitudes, I am thrilled to show support to a business that treats those of us who don’t know all the tech in the world with respect.”
Having made a very deliberate decision to move in 2012 to Bayview, a neighborhood in San Francisco that faces significant socioeconomic challenges, our commitment to our community plays an even larger role in our corporate lives. In fact, 869 hours (4% of total staff time) were devoted to working with organizations and businesses in our community. What’s more, we exceeded the target number of hours donated by 35%. If there’s ever a time to celebrate going over our budgeted hours, this is it.
This past year, we decided to focus the majority share of our donated hours to a single recipient. Rise University Preparatory is a middle school with the aim of bringing quality education to Bayview. With all the challenges of launching a new school facing them, we saw a rich opportunity to partner with an organization and impact the community. Our work with them included supporting their marketing efforts, volunteering as mentors, and developing and running a technology track.
donated toward neighborhood businesses and organizations
10% of profits
go to local organizations serving our community
“We are so grateful to Dayspring Technologies for its generous donations to Rise University Preparatory. Through its giving, Dayspring fosters deep relationships with its neighborhood partners and is committed to the present and future flourishing of the city.”
Sometimes an organization benefits from our donations. But sometimes, what a member of the community really needs is a loan to propel themselves upward. The Neighbor Fund is a community-vetted, character-based small business loan fund with a participatory loan committee – meaning borrowers also sit on the loan committee. Rather than checking credit scores, we talk to people in the community that we know. This has the effect of building up relationships within the community. Most of our borrowers are folks who, for a variety of reasons, wouldn’t be able to borrow money from banks.
in low interest loans given to local businesses in 2017
“My loan from Neighbor Fund helped me to grow my business. Now I give back by serving on the Neighbor Fund Board, which helps Bayview businesses like myself access capital.”
Neighbor Fund recipient
For better or worse, money matters in our lives. When Dayspring launched its first mobile app in 2009, it did so with the idea of improving people’s lives by helping them align how they spend their money with their core values. Our solution was Goodbudget, a budgeting tool that helps you track your spending, whether you have your own individual budget or share one with a household. The consistently strong increase in users – 10% in 2017 – attests to the positive impact Goodbudget has had on people’s finances. Based on customer feedback, we have witnessed that when people’s relationship with money improves, their overall lives can too. While we offer a premium paid product to support the cost of building, improving, and supporting the app, the majority of our customers use our free product, allowing anyone with a mobile device to benefit from Goodbudget.
saved on average in the first three months, according to Goodbudget users
“I have used Goodbudget for three years now, and it has absolutely changed my life. Even as a single-person household working in human services, Goodbudget helped me save a down payment for a house, which I bought 18 months after I began using the program.”
“I am a recent widow and am learning how to budget wisely for the first time in my life. Now I can take more full responsibility for the ebbs and flows in our monthly budget plan and make our money work for us instead of us being enslaved by its disappearance!”
“I am full of gratitude to you for creating and supporting Goodbudget. It is an amazing product that has helped make my finances a positive force in my life rather than a Marley-like chain that drags me down.”