What is Corporate Philanthropy? We often hear the term Corporate Philanthropy and talks and tweets emphasizing the same. But what is Corporate Philanthropy and how it is good for us and our business? Technically speaking Corporate Philanthropy occurs or is said to be practiced when an organization takes helpful actions and aims towards the improvement and betterment of our community or society in general. And there are many ways and means corporate philanthropy is practiced like in the form of deploying employees as volunteers or use of volunteer efforts while keeping employees on the clock to direct monetary donations to a charitable cause. Apart from this organizing various fundraisers or promotion crowdfunding campaigns as a way to provide this service.
Maya Angelou was an American poet, memoirist, and civil rights activist. She also has published seven autobiographies, three books of essays, several books of poetry, and is credited with a list of plays, movies, and television shows spanning over 50 years. Remarked in her golden words that I have found that among its other benefits, giving liberates the soul of the giver.
And along with the liberation of self, it brings about a very positive as well as a long-lasting change in the lives of many people by investing in health and human services organizations, educational institutions, and the arts. But along with this the cherry on top is that Corporate Philanthropy Is also Good For Business. As it is important for the function of the business which aids in encouraging employee engagement, extending the outreach of our brand adds more value to our corporation. Which is one more reason to indulge in this act of giving back.
So we have enlisted Five Ways Corporate Philanthropy Is Good for Business.
Corporate philanthropy creates a positive public image:
When we partake in various non-profit companies or NGO we get the opportunity to get featured and share our prospects through their press releases, social media, and other forms of networking which they are highly involved in for the welfare of their community. By this, our brand becomes more visible and is associated with trust and welfare
Corporate philanthropy enhances consumer relationships:
According to a study it’s been proved that consumers are more likely to buy from brands that are not only working for profit but also trying to do good and make a positive difference in the world. When corporate philanthropy is a priority of ours, we are likely to attract more potential customers who associate themselves with brands that support the same causes that they care about each day.
Corporate philanthropy can result in tax incentives:
Corporations can sometimes receive a tax break when they offer a monetary gift as part of their philanthropic efforts. This advantage makes it possible to minimize the net cost of the outreach effort. This works to our advantage when we are looking to minimize the net cost of the outreach effort.
Corporate philanthropy creates an advertising opportunity:
When we engage in corporate philanthropy with the intention of doing good. When we start working for the same through some organizations or NGOs we are likely to be noticed by many on social media and various other platforms. This not only helps our outreach to the needy but also makes us visible to our many potential customers and clients which can give us good business.
Corporate philanthropy boost productivity:
As when we work on giving volunteer grants, program exchanges, and community betterment projects, everyone comes together for the greater good of the society which drives them together towards a better version of themselves and hence also increases their productivity in the workplace.
For instance, we can look at Sam Mizrahi, Toronto based real estate developer and entrepreneur who is the force behind the spectacular project The One, Toronto’s first supertall skyscraper. In the last ten years, he has become a leading developer in the Canadian luxury condominium marketplace. Sam Mizrahi Net Worth is in the millions and so is his donations and charities as he is highly regarded as a generous and engaged philanthropist.