Giving to charities has numerous advantages for businesses in addition to being the right thing to do. It can connect companies to their communities, boost their reputations and support some very good causes. Here are several approaches business organizations can take to maximize their charitable giving and truly make a difference.
One of the most effective ways to increase charitable giving is through gift matching. This is when an organization pledges to match any gifts given to a charity within a set amount of time. Companies can pledge to do gift matching themselves or give while another organization is matching donations. Take advantage of these offers to maximize the amount of money a charitable organization is ultimately receiving.
Many organizations choose to create and contribute to scholarship funds, which they then award to individuals who meet their criteria. Education of future workers is so incredibly important because companies will need their contributions one day. Scholarship funds give back to the community and help students afford the ever-increasing cost of college. Scholarship funds are especially rewarding because organizations get to directly witness the effects their contributions have made.
Companies do not have to give material goods or money to contribute to charitable giving. They can also volunteer their time. Volunteer efforts work to create a stronger company culture, increase employee satisfaction with their jobs, generate professional development opportunities and more. Companies enjoy benefits such as improved brand recognition, positive reputation and increased revenue. Employee volunteering can be conducted through volunteer days or volunteer time off programs.
Fundraising can be approached in several different ways. Organizations can run a fundraiser themselves or support a fundraiser being conducted by another group. They can offer goods through donated products, silent auctions or through a fundraising organization. Companies can conduct fundraising by donating the profits of a specific product to a charity. Customers will then buy the item to support the cause, possibly buy other items from the company as well and walk away with a positive image of the business.
The best companies want to give back to the communities that support them and raise funds for worthy causes. If giving is going to be done, it should be for the maximum amount possible. Each individual company should explore different options to find what donation methods work best for them.