Corporate Giving: An Introductory Guide
Corporate giving can come in many different forms. It’s an outlet for businesses to provide additional value and opportunities to allow employees to feel like they are a part of something really important. It’s human nature to want to make a difference. To feel like what we’re doing matters – and no matter what your company does, corporate giving, or corporate philanthropy, can provide that outlet to your employees. With over $21 billion donated by corporations to nonprofits each year, there is already a huge impact being made because of corporations with projected expansion of corporate philanthropy coming in at 39% over the next two years. With that expansion will come new opportunities for employees and their companies to make a huge impact in the lives of others all around the world.
Here’s a guide to introduce you to what corporate giving is, what it can look like, and the different financial impact that can be made.
What is Corporate Giving
Corporate giving is the act of a corporation or business promoting the welfare of others, generally through charitable donations of funds and/or time. Corporate giving helps support their communities where the company is based. Many corporations have resources set aside for charitable giving. Corporate giving can come through various methods of support, and these are just a handful of different avenues of support:
Types of Corporate Giving
- Workplace Giving and Matching – When your company offers different giving opportunities to charitable organizations for its employees, encouraging their generosity by matching their financial gifts.
- Payroll Deduction – Your employer may provide seamless ways for you to give to charitable organizations by offering a payroll deduction program. This allows for easy and consistent giving, while also providing the opportunity for multiple employees to join together to support a collective mission.
- Corporate Sponsorships – Supporting a charity through a sponsorship often looks like receiving recognition of your corporate support through logo displays, etc. in exchange for financial support of an event or specific campaign. One way your company can sponsor Set Free is by sponsoring our annual gala.
- Gifts-in-Kind – Gifts-in-kind are gifts of property that are voluntarily transferred by a donor to Set Free Alliance without compensation. These gifts may include equipment, vehicles, materials, supplies, artwork, and other personal property a donor might give to Set Free. Gifts of services are not considered to be a tax-deductible contribution.
Benefits of Corporate Giving
What benefits does a company gain by participating in corporate philanthropy? Not only does it foster a positive perspective of your corporation, both to your employees, consumers, community, and brand, but it also creates a meaningful environment for your employees. We all want to feel like our job is making an impact in the world, and by knowing your company is partnering with local charities, each employee can feel like they are making a collective difference. When your company participates in corporate giving, your employee will feel like they are part of something much bigger than themselves, create an environment that is based in positivity – which is rooted in the feeling we all get when we feel like we are part of something bigger than ourselves. When your employees feel like they are valued as a whole person with the desire to make a difference in the world you’ll almost certainly have a more well-rounded employee.
How to Get Started with Corporate Giving
Knowledge is power. If you’re an employee, inquire with financial decision makers at your company about payroll deduction, corporate matching, or any other charitable partnership models your company may have in place. If you are a financial decision maker, consider meeting with your colleagues to brainstorm the best avenue for your company and what you’d like to accomplish through your corporate giving. There are opportunities to make a powerful difference just around the corner, all you need to do is get started!
And if Set Free is a charity your business would like to consider supporting, we offer a partnership that is custom-made for your company. Our staff will come and speak to your leadership team at your company to discuss the programs we offer, the best fit for your team and your passions, and identify your team’s own Corporate Ambassador, we will represent our partnership with your company and be available to answer any questions and provide impact reports of the work your partnership is making possible – whether that’s drilling a well to provide clean water for thousands, or providing holistic care for precious children rescued from slavery.
If you’re interested in learning more about a corporate partnership with Set Free, please email us at email@example.com