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Corporate Philanthropy

by: JakeEdmund on Date: Mon, 6 Dec 2010 Time: 5:35 AM

Corporate philanthropy is also known as corporate giving, and is simply where a company donates some of their profits, or their resources, to a non profit organization. This is often handled directly by the company itself, but it can also be done through a company foundation.

Normally businesses donate money, but some do choose to offer the use of their facilities, property, services or advertising support. For example if they are a leisure centre, they may invite children with learning disabilities to come and have a fun day of activities or go swimming in their pool. Perhaps a large food or drink manufacturer will incorporate a charitable organisation into one of their products by donating a percentage of the sales of that item to them. This will also create awareness on a huge national, or even international, scale so it is brilliant advertising for the charity.

Companies may also decide to set up volunteer groups within their work force, so that their employees can donate their time and ideas to help out a cause in need.

Businesses donate to all different types of nonprofit fundraising organisations, from health care (such as a hospital itself or research into a specific illness), the arts (such as building a new theatre to unite a community), to education and animals. They may even choose to help the environment. Companies have a big role in this, especially if they are on a large scale, because the amount of resources and transportation they use can have a massive impact on the environment. They should commit themselves to being resourceful and not wasting any raw materials or goods, and also cut down their carbon emissions and use recycled packaging where possible.

Corporate philanthropy also provides a wide range of benefits to the company itself, which encourage them even more to involve themselves with charities. The obvious reason is that it enhances their reputation so that they are thought of as a positive and helpful company, which often leads to further sales because their customers feel they are making a difference by keeping their business and therefore their charity work going. It also improves the relationship with the government, community and their share holders, so they will give them an easier time, lots of support and possibly even grants.

If a brand is associated with a charity, then people are more likely to look into it and find out more information about the company, which again leads to sales. This also increases customer loyalty and gives them a reason to carry on using their services or buying their products.

It attracts much better employees who really want to be part of a company that makes a difference to the world. After all, a large and wealth establishment will be able to make a real change in a short amount of time compared to an individual

About the Author

Corporate philanthropy is a strategic philanthropy which aims charitable giving where corporate fundraising is carried out by organizing charity events in support with a philanthropic foundation .

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