Humanity Financial is a Benefit Company

We are the first accounting firm in Canada to adopt the Benefit Company structure.

What’s a Benefit Company?

In response to an emerging need articulated by British Columbia’s social purpose business sector, the BC Government designed a new business structure called the Benefit Company.

This hybrid structure resides in the existing BC Business Corporations Act, and has been available for use since 2020.

The Benefit Company is a taxable corporation that has its social purposes ‘baked into’ its incorporation documents. This means that its purposes cannot be removed on a whim.

In addition to the requirement that Benefit Companies legally entrench their unique social purposes into their constitution, they must also publish an annual Benefit (Impact) Report, demonstrating how it is delivering on these purposes.

As a Benefit Company, Humanity is ‘more than’ an accounting firm.

Our public benefit purposes are dedicated to:

Enhancing the financial capacity and credibility of charities, non-profits, First Nations, and Indigenous organizations;
Engaging in the development of robust financial systems, financial strategy, and financial management that creates increased opportunity for charities, non-profits, First Nations, and Indigenous organizations; and
Advocating for positive social and economic changes that work in harmony with our environment.

Glossary

Benefit Company

the legal structure of Humanity Financial; a hybrid social enterprise legal structure available under the BC Business Corporations Act

Benefit Corporation

an American legal structure that is used by US Certified B Corporations, among other American social purpose businesses; not to be confused with the (Canadian) Benefit Company

Benefit Report

an annual narrative report that is required to be posted on every Benefit Company’s website, as part of maintaining its legal standing as a Benefit Company; at Humanity Financial, we call this document our ‘Impact Report’

B Corporation

a certification program like ‘certified organic’ for social purpose businesses; not a legal structure; Humanity Financial is also a certified B Corporation, the first accounting firm in Canada to qualify for the certification

B Corporation standards

a system of measuring impacts, which is generally used for groups to attain / maintain their B Corp certification; and which Humanity Financial has also chosen as its impact measurement system for its Impact Report

Mapping our clients' areas of impact to the United Nations Sustainable Development Goals

01. 14%. No Poverty

02. 13%. Zero Hunger

03. 40%. Good Health and Well-Being

04. 38%. Quality Education

05. 29%. Gender Equality

06. 39%. Clean Water and Sanitation

07. 37%. Affordable and Clean Energy

08. 52%. Decent Work and Economic Growth

09. 38%. Industry, Innovation, and Infrastructure

10. 37%. Reduced Inequalities

11. 61%. Sustainable Cities and Communities

12. 15%. Responsible Consumption and Production

05. 33%. Climate Action

14. 14%. Life Below Water

15. 39%. Life on Land

16. 28%. Peace, Justice, and Strong Institutions

17. 44%. Partnership for the Goals

Humanity is often mistaken for a non-profit organization, as demonstrated by the project pathways that we choose to follow, and the relationships that we commit to.

In our latest reporting year, we directed 40% of our pre-tax profit in volunteer time and money, to social purpose organizations.

As part of our public obligation as a Benefit Company, we’re proud to share our inaugural Impact Report, demonstrating how we have engaged with our purposes in 2022.

Every Benefit Company’s success is measured by a third party (or independent) standard, which the Company chooses. We have adopted the standards of the B Corporation certification as our third party ‘measuring stick’, by which to assess our impacts as a Benefit Corporation.

We’re delighted to acknowledge the design and artwork of Anishinaabekwe artist Mariah Meawasige, whose vision has enhanced our Benefit Company reporting tremendously. Mariah’s vision is manifested throughout Humanity Financial’s website and print materials.

In Mariah’s words, her ‘work is rooted in a deep love of stories and storytelling, and [she aims] to explore temporalities and place, map memories, and build relationships through design.’