A number of the top philanthropists in the country own businesses or lead corporations. These philanthropists understand that it is better to give than to receive, which is one of the reasons they open corporate charitable investment accounts and establish corporate giving programs. Beyond the positive impact corporate giving can make on nonprofits and those they serve, companies also benefit by improving brand reputation, employee and customer loyalty, and the financial bottom line.
The sooner a charitable investment account is opened, the longer the funds earmarked for charitable giving have to grow and the more impact your company can have on causes that matter most to your employees and customers.
Corporate giving programs, which often involve a corporate charitable investment account, can be developed at any stage of a business, from startup to succession. However, in order for a program to align with a company’s products, services, mission and values, you must evaluate motives and goals and create a program to match. Following the process outlined below can help you develop a corporate giving program that reflects your corporate culture and meets your company’s charitable goals.
Determine Why Your Corporate Giving Program and Charitable Investment Account Matter
No doubt, you want your community, customers, employees, ownership, leadership and even stakeholders to see your company as caring and charitable. Now more than ever, corporate social responsibility is expected and establishing a corporate giving program shows you take that responsibility seriously. Lasting and meaningful programs are built on two determining factors: deciding why your program matters and for which causes your charitable investment account will be used.
The experts at Greater Horizons can help guide your decision process. Programs built on deeper meanings are sustainable and can grow into corporate legacies.
Validate Your Why with Buy-In from Others
Without widespread buy-in, it will be difficult for your corporate giving program to gain and maintain traction much less make a charitable impact on your chosen causes. Only with a majority buy-in can your charitable giving program build momentum and achieve a measurable impact.
How do you gauge buy-in? Talk to people in your company and community. Ask them if they feel your company’s charitable mission is important to them. Is it something they believe is worthy and will stand behind?
Conversations are easier to have in smaller companies than in large corporations. But, think of getting buy-in in bigger companies as an opportunity to expand your reach. For example, a small biotech firm’s charitable goal could be to support local community members’ health with sponsored clinics. A nationwide or global biotech could support a variety of causes, from disease research to STEM education on local, national and global levels.
Regardless of company size, Greater Horizons’ staff can help document a clear mission statement for your charitable giving program, including its goals and parameters. Let’s say your company matches employee donations. Employees submit a donation they made to an animal shelter for company match. By having documented parameters limiting company support to humanitarian causes, you can prevent funds in your charitable investment account from going to causes that don’t align with your philanthropic goals.
Publicize Your Charitable Giving Program
Out of sight; out of mind. Just like you update employees on other company news, keep your charitable giving program part of your ongoing communication. Share news on milestones achieved, success stories and financial impact made. Send reminders about volunteer opportunities, donation drives and monetary matches. Invite an expert to talk to your employees about a charitable cause or organization. Schedule time for employees to engage firsthand, whether volunteering on-site or visiting the charity. Seeing in person the impact your company’s charitable giving program makes helps employees make emotional connections with your cause.
For additional information about corporate charitable giving, download our guide: 5 Ways to Increase Your Company’s Charitable Giving.
Seek Greater Horizons’ Expertise
Greater Horizons provides the most comprehensive offering of products, services and expertise in the marketplace today, making establishing your charitable investment account and giving program easy and your charitable dollars work smarter. We offer cost-effective services and a team to help you build upon and manage your good work.
Every day, Greater Horizons works with hundreds of businesses across the country to develop corporate giving programs to further their corporate philanthropy, helping them and their employees make a positive impact throughout the world via:
Corporate Foundations: To organize all your company’s philanthropy under one structure.
Strategic Planning Assistance: To align your giving to your company’s philanthropic mission and goals.
Matching Gift Programs: To build a program that matches time and monetary contributions.
Disaster Relief: To quickly respond as a company by collecting and distributing donations.
Custom Giving Programs: To tailor a program specifically to your goals, needs and resources.
Additional services available are:
- Scholarship Funds
- Competitive Grantmaking
- Assistance Identifying Company-Wide Volunteer Opportunities
- Volunteer Tracking
Need help setting up your corporate philanthropy program or charitable investment account? We would love to help! Please contact us to learn more.