Create a corporate giving program that aligns with goals and engages the community.
One of the most important things you can do for your business is to establish a corporate giving program. This type of program offers multiple benefits: it can increase your exposure and reputation in the community; it can boost employee morale, making it easier to recruit and retain top talent; it can have tax benefits; and it can provide you an opportunity to partner with your customers, suppliers and community, which is always a good thing.
Engaging your employees
Employees will be key to the success of your program and should be involved in creating it. Here’s a five-step approach:
Structuring the program
You’ll need to decide how to structure your program. Here are some common ways companies donate (select one or all of them):
Determining the budget
Knowing how much to donate, and what’s appropriate for a company your size, may be the most difficult part of creating a corporate giving program. Start by researching what other companies similar in size, revenue and industry are contributing. A great resource for this type of information is from the Giving in Numbers, 2015 Edition. It’s an annual report developed by the Committee Encouraging Corporate Philanthropy (CECP) in association with The Conference Board. It can be downloaded for free and incorporates data from 271 companies, including 62 of the largest 100 companies in the Fortune 500.
If you don’t have the funds to contribute your full target amount your first year, develop a three- to five-year plan that will get you there over time. The important thing is to get started, and I hope these steps will help you.
Sharing my thoughts, industry insights, and recent client successes. I would love to hear what you think.