Last November, seven more states legalized marijuana, increasing the total number of states where the use of marijuana in some capacity (recreational or medical) is not illegal to twenty-eight. Overall, the legal marijuana industry could gross as much as $20 billion in revenue by 2020. Many of the new businesses making up the legal marijuana industry are looking to give back to their communities, but many nonprofits are hesitant to accept their donations.
Tim Cullen, the CEO of the Colorado Harvest Company, was surprised by the challenges he encountered when he decided to donate some of his business’ earnings. “I have been shocked at how few places will take our money,” he said. Colorado Harvest Company is a chain of shops selling marijuana products. Cullen is also a shareholder of O.penVape, a company producing vaping pens.
Although Colorado legalized recreational marijuana over five years ago, many nonprofits continue to refuse gifts from the industry. Luckily, Cullen felt strongly about the need to give back. “I think philanthropy is what responsible businesses do. It’s not a choice so much as the next logical step,” he said. Eventually, he and his business partners at O.penVape made a donation of $250,000 to Levitt Pavilion Denver to partially fund a new amphitheater in Ruby Hill Park in the southwest part of the city. Once it is finished, the nearly $5 million Levitt Pavilion will host many events, including fifty free concerts each summer…