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How to Start a Corporate Philanthropy Program

Giving back to society through philanthropy projects is a highly welcome idea in the world today, especially where social-economic challenges prevail. Companies have increasingly adopted the concept of corporate philanthropy. Such businesses with a specific focus on giving back to society have multiple opportunities and options to choose from, including establishing their own philanthropies or […]

Govind Vaghashia How to start a corporate philanthropy program (1)

Giving back to society through philanthropy projects is a highly welcome idea in the world today, especially where social-economic challenges prevail. Companies have increasingly adopted the concept of corporate philanthropy. Such businesses with a specific focus on giving back to society have multiple opportunities and options to choose from, including establishing their own philanthropies or joining the existing ones. Here is what it takes to start a corporate philanthropy program.

Think of a goal and a cause

The first step towards establishing a philanthropy program for your company is to come up with a goal and target audience that you wish to reach out to. A philanthropy program’s goals can target environmental issues or even people-related matters. If you wish to focus on alleviating common social problems, you may have additional options, such as focusing on children-related issues, homelessness, or even general societal patterns, such as education. Choosing your target audience allows you to remain focused and enables you to achieve the merited goals.

Due diligence

After establishing your goal, you should then start research standards that are within with the various regulations for starting a corporate philanthropy program. For example, if you wish to establish a corporate philanthropy program, local regulations may need you to register accordingly with government agencies. If this is the case, you may want to obtain the necessary documents that will facilitate the smooth running of the philanthropy program.

Bring people on board

The next step involves finding the right motivated and like-minded persons to partner with your organization in the philanthropy. You may want to start with workers within your company. Educating them on the benefits of contributing to charity programs helps to win their incentives to participate in the program. You can also choose to partner with other companies and well-wishers in the market. This increases the general efficiency of the charity program.

Setting the program’s cadence

To be effective and ensure that you fulfill your ambitions, you should ensure that you set in place the necessary structures that govern the operations of the program. This has to do with determining how frequently your organization will be committing to work in the philanthropy program and how much resources will be allocated towards the same.

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