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Corporate Philanthropy and How to Excel at It

Over just the past few years, corporate philanthropy has increased throughout the country. Although this is certainly due to voices calling for companies to be more involved within their community, the benefits of doing so are apparent to those companies and their owners. However, simply involving your business in philanthropy isn’t enough to gain those […]

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Over just the past few years, corporate philanthropy has increased throughout the country. Although this is certainly due to voices calling for companies to be more involved within their community, the benefits of doing so are apparent to those companies and their owners. However, simply involving your business in philanthropy isn’t enough to gain those benefits. Therefore, we’ve compiled some of the best tips to help your business excel at it.

It All Begins with a Plan

Perhaps the most common mistake made by business leaders is not preparing their company for the venture that is to come. This can lead to confusion across your business’s multiple levels with staff and management, not really knowing where to place their focus on. To properly layout your philanthropic goals, you must first instill them into the company’s management and financial structures. This will ensure that the message is clear of who you are supporting, and thus your efforts can last for years to come.

Align with Company Values

One of the benefits of corporate philanthropy is that you prove to your customers that you’re not just talking about having certain values. You’re actually putting action into your words. However, it is crucial to vet the charities and organizations you’re working with as they can cause issues in the future if you find out that their practices may not align with your company’s values.

Get the Community Involved

The simple fact regarding corporate philanthropy is that you can’t do it on your own, no matter how much your company is willing to fund. You will need to know and interact with people to ensure that both the plans come to fruition and are at a high quality. Therefore, it is imperative to invite members of the community to offer their input on and network.

Don’t Just Get Involved—Be the Change

Another common mistake companies make when going into corporate philanthropy is that they think that merely being at an event is enough. To provide true change, your company must be the change. This usually means giving something to the community that is long-lasting. Some of these include funding a community center, fundraising for scholarships, or even offering internships within your business.

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