A BENEFIT CORPORATION: music for memories
Music for Memories is the charitable arm of Music Mayhem, which in December 2015 became the first Minnesota gaming company to incorporate as a benefit corporation. Benefit corporations operate just like traditional for-profit corporations with one important distinction: all benefit corporations must consider the impact on society of their activities and profit-seeking ventures. The growing list of benefit corporations nationwide includes such familiar names as Ben & Jerry's Ice Cream, Patagonia, Kickstarter, and Etsy.
Music Mayhem's corporate charter states that it shall donate a portion of profits to Alzheimer's disease cure research and advocacy. In a way, not much has changed. Music Mayhem founder Bill Solboe has forwarded funds and time to Alzheimer's-related organizations for several decades. Filing as a Minnesota benefit corporation merely cements that commitment in the corporate charter and makes it a binding obligation on any future partners or investors.
Company president Bill Solboe, who developed the Music Mayhem concept, has a deep personal interest in Alzheimer's cure research. "My mother and all three of my brothers were diagnosed with an early-onset Alzheimer's related dementia. My father also has Alzheimer’s. I've experienced firsthand how devastating the disease can be for everyone involved. As a result, I've dedicated myself, and my business, to join the fight to find a cure.”
Contact Music Mayhem to ask about playing Music Mayhem Live for free at your next Alzheimer’s-related fundraiser, or for answers to any other questions.