The holiday season tends to be a popular time for corporations to ramp up their charitable giving game, though many businesses donate resources all throughout the year. David Johnson Cane Bay Partners has prioritized corporate philanthropy since the beginning to give back to the community, and your business can too with relative ease.
Here are four different types of corporate philanthropy you should consider for your business:
1. Matching Gifts
Matching gifts are likely the most popular form of philanthropy in business, and they allow businesses large and small to match the dollar amount their employees choose to give to nonprofits. When employees know that their donations will be effectively doubled by the company, it encourages them to give more, which can do more good for the community and enhance public perception of your company.
To successfully execute matching gift donations, it’s important to have a pre-determined set of parameters, such as how long your company will match and up to which dollar amount.
2. Volunteer Grants
Volunteer grants are also popular ways for businesses to do good in the community. Volunteer grants are effective donations that companies provide to nonprofits where their employees volunteer regularly. Many large corporations, for example, offer a $500 grant to a nonprofit once an employee has volunteered there for 20 hours.
This system helps to encourage employees to get out in the community and spend their time working with the same nonprofits over the course of weeks or months. It can help forge more meaningful connections throughout the community, and it’s a great way to donate to those in need.
3. Employee Grant Stipends
Some businesses decide to give their employees stipends that they can donate to the nonprofit of their choice. This provides more flexibility, and it empowers your employees to send corporate donations to a cause they feel passionate about.
Many businesses find that this offers a better way to engage employees and make them feel more excited about philanthropy in business, as it offers them a choice.
4. Corporate Sponsorships
Corporate sponsorships are also a common way for businesses to engage in philanthropy because it’s a simple way to help nonprofits and gain recognition in the community. Corporate sponsorships simply involve giving money to a charity, and the nonprofit, in turn, recognizes the donation given by the business. Many nonprofits will hang up banners with businesses that have sponsored their mission, or they will list all of the ways a corporate sponsorship has helped them further their goals.
This approach tends to be a bit more hands-off, and it doesn’t allow employees or the company to feel truly connected to the nonprofit it helps. Even still, it’s a great way to give back to the community.
Philanthropy in business often seems like it can only be done by huge corporations, but businesses of all sizes can get involved and help others. These are just a few of the many ways a corporation can get involved in philanthropy, but they offer a great place to start.