Establishing a Corporate Giving Program? Start Here

Establishing a corporate giving program might seem daunting, but it becomes much more manageable if understood piece by piece. Before we put those pieces together, however, what is corporate giving, exactly?

Also known as corporate philanthropy, the Council on Foundations defines it as how a private company financially supports various societal institutions, including nonprofits and charities. Simply put, corporate philanthropy is when a corporation donates money to altruistic organizations or funnels it back into the local community as a way of saying thank you.

Let’s break down the benefits of corporate giving, the types you can choose from, and important questions that, when answered, will layer extra meaning atop your philanthropy. 

Benefits of corporate giving programs 

Those on the receiving end of a corporate donation aren’t the only beneficiaries. Indeed, a company’s generosity tends to swing back around.

Reputation

First and foremost, there’s no better way to show your company lives out its stated values, helping to improve public image. Putting your mission statement into action puts real stock behind it, and customers and investors alike are bound to take notice.

Company culture

Internally, a stronger workplace culture will take root. What better way to feel fulfilled at work than to witness the tangible effects of your company’s actions—or, even better, take part in those actions yourself through company-sponsored volunteering efforts? Partnerships and new skills alike will naturally develop as a result, and you’ll likely see an uptick in job applications as the word spreads.

Creativity

A creativity boost is all but guaranteed as well. Becoming involved in local charity efforts can both broaden and deepen employees’ perspectives, giving them a clearer idea of how to help and, potentially, sparking ideas for new products and initiatives. Open eyes, open heart, open mind.

Financial benefits

Though corporate philanthropy often involves giving money away, it does have some reciprocal financial benefits. An improved public image can easily lead to improved brand loyalty, meaning more people buying more products, as well as increased investment from stakeholders. Charitable contributions can even lower your company’s tax liability.

The bottom line: Don’t underestimate the power of giving, corporate or otherwise. As they say, give and you shall receive.

Best corporate giving programs to choose from 

Unlike passersby giving a Salvation Army volunteer a dollar or two, corporate philanthropy is less about individual altruism than company-wide effort. That notion is reflected in the many types of corporate giving you can choose from.

Matching gifts

There’s an argument to be made that matching gifts don’t count as corporate philanthropy since they often work on an employee-to-employee basis rather than a company-wide basis. Yet, employees can band together to reach a donation goal your company will then match, and that group effort makes all the difference.

Employee product donation program (EPDP)

Employees can also participate in an employee product donation program (EPDP), which is exactly what it sounds like: Instead of donating money, employees directly distribute company products (which are usually tax deductible). You can work out specifics and permissions internally, but EPDP is fantastic for on-the-ground engagement with your local community or nonprofits.

Volunteer support initiatives

Alternatively, you can set up volunteer support initiatives: by providing your services at no charge to nonprofits. Do a stand-up job and watch the free advertising spin itself into long-term partnerships. Volunteer grants are also an option in which your company donates to organizations where your employees freely give their time (often based on a threshold of hours rather than an hour total).

Sponsorships and scholarships

Sponsorships and scholarships both make for excellent corporate giving options as well. The former entails monetarily supporting an organization which then publicly acknowledges that support. The latter entails donating to colleges to grant students more opportunities to stay in school and pursue their dreams.

You’ll have to weigh which of these programs your company would do best to offer, but each and every one is a tried-and-true option with proven results.

Five questions to ask as you explore corporate giving programs 

How do you weigh the best corporate giving programs against one another?

1. What type(s) of corporate giving best suits your purposes?

Volunteer support initiatives, for instance, might make more sense for larger workforces with employees to spare. Choose with your company’s specs, capabilities, and goals in mind. 

2. What nonprofits or community organizations do you want to give to?

Visit or call them and ask about their missions and goals, their tangible achievements, and whatever else is important to you before you sign on together. If their mission doesn’t align with yours, or if you don’t feel that they say what they mean and mean what they say, consider lending your support elsewhere. 

3. What cybersecurity measures are in place to ensure all transactions go smoothly?

The last thing you want is for a large donation to become a compromised mess. Take whatever additional steps you need to ensure proper cybersecurity measures, even if you have reason to believe the worst won't happen. 

4. How will you manage communication with the nonprofits or organizations you give to?

There’s a notable difference between only contacting them when it’s time to donate and staying in constant communication as fellow businesses. 

5. What are your intentions with corporate giving?

Are you engaging in corporate giving because of the potential benefits, or because you truly care about your local community or nonprofit? It may sound harsh, but it’s a legitimate question. People can usually sniff out false intentions (especially if you’re openly using a cold-sounding label such as “corporate philanthropic strategy”), so don’t intend to come off as genuine—be genuine. 

An alternative way to support your local community or nonprofit: RaiseRight 

Corporate giving has many benefits and options that can fit your company like a glove. Yet, when it comes to contributing to your local community or nonprofit, there’s another option: RaiseRight.

RaiseRight is a free-to-join fundraising platform that benefits local nonprofits and community organizations through gift cards and online shopping. 

Simply shop online or purchase and use gift cards to pay for goods and services you’re already buying—everything from Starbucks to Instacart and Uber. A percentage of every purchase (up to 20%) funnels back into your targeted fundraiser.

Your business can either establish a RaiseRight program with a local organization or partner with a group that’s already using RaiseRight. You just need the organization’s enrollment code to join their RaiseRight program.