(Emeryville, CA) – Clif Bar & Company—including brands CLIF Kid® and LUNA®—has announced several new initiatives to support education and women’s health. As a private, employee-owned company, Clif Bar’s “S corporation employee stock ownership plan” (S ESOP) structure has contributed to its success as a high-performing business, well-positioned to give back to its community.
This week, the company announced the dedication of $14,000 in scholarships to children through the CLIF Kid Backyard Games of the Year Contest. In light of recent trends suggesting that more kids play computer games than swim or ride a bike, CLIF Kid challenged kids and their parents to reconnect with outside playtime by submitting their most creative “backyard games.” Five finalists were selected and one creative kid took home the top honor and a $10,000 educational scholarship, while four runners-up each won a $1,000 educational scholarship.
In addition, the company’s 11th Annual LUNAFEST recently kicked off, presenting short films by, for and about women in more than 150 venues throughout the country. Each screening raises funds and awareness for the Breast Cancer Fund and local women’s nonprofit organizations. Eighty-five percent of net profits go to local nonprofit organizations, while the remaining 15 percent goes to LUNA’s primary cause partner, the Breast Cancer Fund, an organization dedicated to identifying and advocating for the elimination of environmental causes of the disease. Since its inception in 2000, LUNAFEST has raised more than $456,000 for the Breast Cancer Fund and over $785,000 for women’s organizations across the country, while raising hope and awareness for women’s issues.
“The contributions of Clif Bar & Company are a testament to the incredible commitment of their employee owners,” said Greg Klein, chairman of the board of directors of the Employee-Owned S Corporations of America. “When employees own their companies, as they do at Clif Bar & Company, the pride of ownership shows through, and as we’ve seen, is a real factor in motivating an investment in the community.”
According to a University of Pennsylvania study, S ESOP companies like Clif Bar & Company create not only employee motivation and success, but also $14 billion in new savings and retirement security for workers that they otherwise would not have. This is because profits of the company flow into the ESOP (retirement) accounts of the workers. Moreover, most S ESOP employees have retirement account balances three to five times higher than the average 401 (k) or other defined contribution plans. This helps to explain why S ESOP owners like those at Clif Bar & Company are so successful, as compared with most working Americans who—an April 2011 Gallup poll found—think they will lack enough money to live comfortably in retirement.
Clif Bar & Company is a leading maker of nutritious and organic foods and drinks, including CLIF® BAR energy bar, LUNA, The Whole Nutrition Bar for Women®; and CLIF Kid, Nourishing Kids in Motion®. Focused on sports nutrition and healthy snacks, the employee and family-owned company is committed to sustaining its people, brands, business, community and planet.
Recently Clif Bar & Company was ranked the No. 1 brand in the Forbes Breakaway Brands survey, conducted by Landor Associates using Young & Rubicam’s BrandAsset Valuator database measuring brand momentum from 2006 to 2009.
###
The Employee-Owned S Corporations of America (“ESCA”) is the Washington, DC voice for employee-owned S corporations. ESCA’s exclusive mission is to preserve and protect S corporation ESOPs and the benefits they provide to the employees who own them. These companies have an important story to tell policymakers about the tremendous success of the S ESOP structure in generating long-term retirement savings for working Americans and their families. ESCA provides the vehicle and the voice for these efforts. ESCA represents employee-owners in every state in the nation.