In 2016, Joe Payne (the CEO at the time), envisioned Code42 leaving a legacy in the Minnesota community, and he created the Code42 Foundation as a way for the company to give back and be a good neighbor. The Code42 Foundation’s giving structure was inspired by the principles of the Pledge 1% Movement. We committed to donating:

• 1% of profits (annually when profitable),

• 1% of equity (founder and employee donations), and

• 1% of employee time (2 days annually per employee) to charitable purposes.

In moving toward the adoption of these principles, Code42 founders Matthew Dornquast, Mitch Coopet and Brian Bispala donated a collective 1% of their equity in the company to establish the Code42 Foundation. 

The Code42 Foundation is a donor-advised fund that distributes money to charitable organizations. The Minneapolis Foundation was selected both to administer the Code42 Foundation and to provide guidance to a committee of Code42 employees in the development of the Code42 Foundation’s mission, vision, and values.

From 2016 - 2024, we raised and granted over $200,000 to organizations working to disrupt the systems that perpetuate inequities, to maximize opportunities for communities that have historically lacked equal opportunities, and for every person to be accepted as a whole human. 

In July 2024, Code42 was acquired by Mimecast and no longer exists as an independent company. With that sale, the Code42 Foundation pledged stock became liquid and financed the fund.