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amicus.io

Founded Year

2017

Stage

Acquired | Acquired

Total Raised

$8.72M

About Amicus

Amicus uses proprietary search technology to allow users to search for charitable projects through organizations they care about, as well as portfolios of nonprofits ranked by cause and impact. Donors set up an account, identify their favorite causes and organizations, a giving plan is created with goals, users log in and see the impact of projects they funded, and charities can post projects eligible for funding. Amicus collects a 4.5% transaction fee for funded projects and plans to white label its services for corporations who can make giving programs available and match contributions.On March 22nd, 2022, Amicus was acquired by The Tifin Group, terms of the transaction were not disclosed.

Amicus Headquarter Location

222 S. Church Street

Charlotte, North Carolina, 28202,

United States

877-479-4010

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Latest Amicus News

17 Law Professors File Amicus Brief Assailing Corporate Democracy

Apr 12, 2022

To embed, copy and paste the code into your website or blog: <iframe frameborder="1" height="620" scrolling="auto" src="//www.jdsupra.com/post/contentViewerEmbed.aspx?fid=a651e378-bd63-4456-99e4-cfbe40556187" style="border: 2px solid #ccc; overflow-x:hidden !important; overflow:hidden;" width="100%"></iframe> Earlier this year, the trial of one of the challenges to SB 826, California's female director quota law, concluded but Los Angeles Superior Court Judge Maureen Duffy-Lewis has yet to release her decision. Super. 19STCV27561. Meanwhile, another challenge to SB 826 is pending in federal court. In December, U.S. District Court Judge denied the plaintiff's motion for for a preliminary injunction and plaintiff has appealed to the Ninth Circuit Court of Appeals, Meland v. Weber, Ninth Cir. Case No. 22-15149. Last week 17 law professors submitted an amicus brief in support of the SB 826 in which they make the remarkable, albeit incorrect, claim that "Ultimately, the type of board members to nominate remains a board decision". While it is true that boards or board committees typically present a slate of nominees, Delaware law recognizes a stockholder's right to vote includes the right to nominate. Thus, while a Delaware corporation may adopt bylaws requiring stockholders to provide advance notice of nominees, the bylaws must ""must, on [their] face and in the particular circumstances, afford shareholders a fair opportunity to nominate candidates." Hubbard v. Hollywood Park Realty Enterprises, Inc., 1991 Del. Ch. LEXIS 9, *35. This is an important point because if SB 826 is upheld, it will receive a direct injury that is separate and distinct from the corporation. The law professor's brief undercuts its own argument that the plaintiff's claim is derivative, rather than direct, by emphasizing the authority of the board to make nominations. This means that it is the board, and not the corporation, that is injured by the quota constraints imposed by SB 826. Corporate boards or board committees routinely make nominations. But does this mean that board's have the inherent right to make nominations or could the bylaws reserve that right to the stockholders exclusively? The Delaware Supreme Court suggested that the board has such a right in Stroud v. Grace, 606 A. 2d 75 (Del. 1992). However, it did not cite the source of this right.

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