Corporations and Foundations can have a profound impact on nonprofits through philanthropy. With all that is happening in the world today, this is a perfect time to build, reevaluate or expand philanthropic giving programs. Corporate philanthropy (corporate giving or corporate social responsibility) are becoming increasingly important—companies that haven’t given back in the past are taking a hard look at how to change, while foundations that do have a history of philanthropy are reevaluating their programs to make social responsibility more of a thoughtful process and priority.
Corporate philanthropy is a voluntary investment in social causes, issues or nonprofits. “Doing well by doing good,” is certainly a good start when positioning a program, but to see genuine change, corporate giving should be so much more.
Philanthropic giving programs must be strategic, cost-effective, value-enhancing and deliver a meaningful impact. It should never be treated as a “check the box” program. It must be executed just as professionally and proactively as any other core business plan.
In our experience as philanthropic consultants, we’ve witnessed a majority of giving program as being scattered and unfocused—an occasional donation made to a random gala, university or hospital; an in-kind donation to a golf tournament; or a haphazard sponsorship budget that is given out here and there without regard for a company’s mission, vision or goals. When there is no genuine, cohesive plan or consistent community investment, there’s no community impact.
A corporate philanthropy program must align with philanthropic pursuits that best match the existing corporate culture of your business, mission statement, products, services, social and economic goals. Most importantly, you need to understand how to make those pursuits mean something. At its core, those pursuits can consist of:
Employee & Community Engagement
Corporate giving programs help deepen the relationship with employees, customers and community. It can also increase employee and customer happiness and retention.
Make a name for your business and help to shape the values of the next generation workforce. Additionally, giving programs can be used as a benefit to attract employees and top talent.
Fostering meaningful partnerships with nonprofits, making a difference in the local community where you live, work and play. It’s important to measure your giving programs and communicate impact, celebrate success and evaluate on how to continuously improve.
From the ground up, strategic corporate giving programs must involve your employees, your customers and the community to ensure that your actions will harvest maximum change. If done right, philanthropic efforts can be a success for the communities you support, engage your employees, enhance your brand, build relationships with customers and improve your bottom line.
The Consultants at Empreinte Consulting, LLC help businesses and foundations enhance the impact of their philanthropy. We can help you establish a philanthropic plan or enhance your current corporate giving program—making your charitable dollars work smarter and reach further. We look forward to talking to you about how that can help your organization and the communities you serve.