A corporate giving program
can be an excellent way of improving your company’s profile and
increasing your press coverage. This may also lead to an increase in
sales if you are able to touch a cord with customers that like a
corporately responsible company.
When to start a corporate giving program?
Where to start a giving initiative if you are new to this trend? You
are not alone if you have just decided to start corporate giving at your
organization. There are many companies that are now actively supporting
community programs, education, health, and international crises.
According to a study published by the Committee Encouraging Corporate
Philanthropy, corporate giving increased by 7% in the period between
2008 and 2009.
You can use these statistics to start a donation program. You will
need a budgeting for this purpose so that to present a complete
accounting detail to your shareholders.
Budgeting for a corporate giving program
It is important for you to budget your corporate giving in such a
manner that it does not impact your balance sheet. It will be even more
important to take care of budgeting if you are a publicly listed
company. A careful approach in this regard is to start donation programs
from the profits instead of taking money out of revenues. You can
allocate a minimal percentage of your profits for social causes with an
option to increase this donation once you get the finances right.
Seeking shareholders approval
It might be necessary for you to take shareholders approval before
you start donating money to causes or organizations. It will be a good
idea to discuss such matters in annual company meetings and discuss the
matter with shareholders. You can start donation programs to companies
and causes that are non-controversial thus avoiding the wrath of
shareholders. It is highly unadvised to start corporate giving to
controversial causes that might damage your company’s reputation and
earn the ire of shareholders. A simple voting will be the best way of
settling on donation plans that are acceptable to everyone.
Advertising your kindness
You can improve your press ranking and company reputation by
advertising your social spending. Most companies now release press
statements whenever they inaugurate a new health center or donate to
earthquake victims. It is one of the best ways of promoting your company
while displaying your concern for social and environmental causes. You
can also donate to political causes as long as you are not afraid of
losing your business or shareholders’ approval.
Streamlining your donations
It is highly important that you keep track of every cent that you
spend in donation programs. You can use online donation portals that
streamline the process of giving. Facebook, Linked-in, and Twitter can
help you to advertise your social giving and encourage others to chip
in. Online donation platforms will enable you to use a single portal for
managing these campaigns and tracking donations.
It will be a good idea if you start one or multiple corporate giving programs
while keeping the above factors in mind. This will enable you to keep
the finances in check while improving your company profile.
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