A few weeks ago, we introduced you to our multi-part series on corporate philanthropy. One of the most common ways for companies to be philanthropic is to work with established charitable organizations. However, selecting the right charitable organization to fit with the culture of your company is often difficult. This top 10 list will help you ask the right questions before you commit.
Take the time to find a cause that your company is passionate about – or don't bother. That may seem like a bold statement, but you're wasting everyone's time if you are just going through the motions – or worse, "doing good" just to improve your bottom line. Others outside your company will see through it, and more importantly, people inside your company will too.
It is vital that your company becomes involved in a cause after reaching out for feedback from your employees to find out what they are excited and passionate about. Find a cause in line with your company culture and values.
Well, yes – but eat your sandwich first. Once you find a few organizations you are interested in, do a bit of research to check that they are legitimate, honest, and a good fit for your company. Charities have an obligation to provide relevant information to donors or potential donors, and you have every right to ask for a copy of their latest annual report, as well as other literature detailing their background and history.
If a charity refuses to provide any of this information to you, it should be a red flag. Charities that are honest about their intentions should be willing – and even eager – to provide helpful information and answer your questions and concerns. They should have questions for you, too. After all, it will only benefit them to become involved with a legitimate business that is aware, involved, and in it for the long haul.
A couple of resources to help you with your homework:
Do friends clamor to be invited to your dinner parties because of your flair for cooking? Are you MVP on your summer league softball team? The envy of your co-workers at the company karaoke party? Put those skills to use by applying them to your company's philanthropic experience.
Get to know (if you don't already) what your employees' strengths and extracurricular interests are, and figure out ways to best incorporate them. You might be surprised how willing others are to pitch in for your company's cause, and how much your decision to involve the team will improve company morale.
What do you see your company accomplishing with your philanthropic partner in the next month? The next year? Create a set of attainable yet visionary goals and define a strategy for achieving those goals.
It is important to thoroughly consider where your efforts are going – and what the short and long-term impacts will be on the results of those efforts.
Deciding what to do may seem a bit overwhelming – but a few key questions can go a long way in helping you determine whether a particular cause is right for your company. Inquire about how many people the organization helps annually, their major program accomplishments in the past year, the factors they look for when partnering with a business such as yours, and their short and long-term vision and goals.
Ask questions and specifics. This isn't just a decision of whether to choose pasta or fish for dinner, so don't treat it like one.
Don't be afraid of commitment – but don't over-commit, either. Start out slowly. Philanthropy should be an ever-changing partnership; a give-and-take. Don't exhaust yourself, shortchange your family or other commitments, or make promises you can't keep.
At what level is your company interested in becoming involved? Local, national - even international? Find the best, most comfortable fit for you and your employees.
And there's no need to be a serial dater, so don't spread yourself too thin. Businesses that focus their giving tend to make a long-term impact, but this doesn't often happen when a business is involved with too many causes and not focusing their giving efforts.
Find one or two charities that your company would like to become involved with – and give wholeheartedly. For better or worse, richer or... you get the idea.
Quick Tip: If you need to take the heat down a notch, consider virtual volunteering.
Signing on with a philanthropy is kind of like a job offer, too. Give yourself time – you should never be pressured into giving money or volunteering on the spot, even if you are enticed with gifts or persuasive words.
Charities often give small gifts in order to increase the likelihood of donations, but it is illegal for them to force you to give money for unordered merchandise. If you're not interested in their offer, Just Say No.
Find out where your donations are really going (check out a site like www.charitywatch.org for more information). How much is going to program services, and how much to administration and fundraising expenses?
Research this if you can, but take it with a grain of salt – a general rule of thumb is that at least 60 percent of your donation should be going to program services, and 40 percent or less to administrative and fundraising expenses. Keep in mind, though – smaller, newer charities likely have to spend more in the administrative and fundraising arenas until they really get up and running and establish themselves.
Continuously measure progress, and learn from your successes, challenges, and failures along the way. There will likely be setbacks or situations that come up unexpectedly, and your original vision may pan out quite differently in real-life scenarios. But like anything else, you will learn from your mistakes and poor decisions.
You should take stock on a regular basis, figure out how and what to change in your strategy, and keep moving forward. Communication, both with the philanthropy you are partnered with and with your employees, is vital.
Volunteering can make strategic sense and support your business objectives, values, and goals. More significantly, though, it can bring the people at your company together in working toward a common goal – a goal to reach out to help those who can't easily help themselves. And once the sales figures fade and the dust settles on your annual report, that's something your company can really be proud of.
If you are looking for ways your company can give back, there are many areas where you can look for the perfect fit. Discuss these opportunities, and others, with your employees and you can find the perfect solution for your giving needs.
Phrases like social responsibility, giving back to the community, and corporate philanthropy are showing up everywhere in recent years. Does sincere philanthropy really have a place in American business?
With thousands of gifts in stores and on the Internet to choose from, how do you decide where to spend your budget? What gifts will be most meaningful to the people you know? Should you really buy another coffee mug or calendar for your co-worker?
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