Beneficial State Foundation

Founded in 2007 by Kat Taylor and Tom Steyer, Beneficial State Foundation is a non-profit organization with a mission to change the banking system for good. It is the majority owner of Beneficial State Bank, a triple-bottom-line, B-Corp certified community development financial institution (CDFI). The Foundation's unique ownership model ensures that any profits distributed by the bank are reinvested into the community and the environment, rather than benefiting private shareholders. This structure is designed to align the practice of banking with principles of economic, racial, and environmental justice.