#WorldHumanitarianDay: 6 Ways Charity Partnership Can Benefit Your Business

“Giving is not just about making a donation, it’s about making a difference.”
- Kathy Calvin

Back in 2009, the United Nations General Assembly declared August 19 as World Humanitarian Day. It aims to commemorate the lives of the 22 humanitarian workers who lost their lives in the bombing of the Canal Hotel in Baghdad, Iraq, in 2003 on the same date. As tragic as it is, this day is also the day we celebrate all the people who are helping others in one way or another. You can be among those who recognize this important anniversary, too.

Entrepreneurs are in the perfect position to extend a helping hand to those in need through their enterprise. Having your own business allows you to give back to your community by working with charitable organizations and humanitarian causes that are close to your heart. What is great about this is that you’re not only helping others, you and your company are also benefiting from it. 

Here are some of the most charitable business organizations in 2021 as listed by Yona Williams of Giving Assistant:

  • TOMS Shoes
  • Etsy
  • The Home Depot
  • Nike
  • American Eagle
  • Steve Madden
  • Michael Kors

You don’t have to be as big as these companies to start giving back. Even if you’re just a small business owner, you can still do charity work. If you haven’t done so yet, here are some compelling reasons that may convince you to consider partnering with charities and practicing corporate giving:

1. It helps your business get tax deductions.

Of course, you shouldn’t get into the business of helping people just for the purpose of paying less tax. However, it’s true that your business is entitled to tax deductions when you donate or sponsor charitable events and organizations, which is financially a good thing! Just make sure that you do it right - comply with the rules and make all the necessary submissions to avoid any problems.

You can benefit from up to 50% deductions from your Adjusted Gross Income. This may include your volunteering expenses and charitable donations. Also, you can still get tax deductions even if your contributions came in the form of services or stock. But you can’t do this on your own. You have to work with an IRS-approved organization. The organization will give you a tax form that you’ll need to use in the filing of your tax return. If all these look complicated to you, talk to your tax advisor or accountant. They will surely help you make the most of your charitable activities.

2. It increases your brand visibility.

According to a 2010 Cone Cause Evolution study, 80% of consumers surveyed said they would switch brands based on charitable efforts. Corporate giving can present your business in a good light. It proves that your company is more than just about making profits. You will be better perceived, not just for the products you sell and the services you provide, but also for your values and ethics. 

When the public recognizes you as having corporate social responsibility, you are sure to get the attention of those consumers who are actively looking for brands that support a good cause. It’s the same all over the world: Research in the UK demonstrates that 82% of consumers prefer companies that are involved in community and charitable activities. The result is more than just sales - it leads to long-term loyalty to the brand which is the holy grail of marketing.

3. It opens up new business opportunities.

Taking part in fundraising, volunteering, and outreach programs allows you to find new ways to expand your business. You may realize that your company has been neglecting an area of potential growth. Maybe there’s a market that you missed and should’ve covered from the beginning. Engaging with your community is bound to spark new ideas. Whatever they are, you are likely to end up gaining more than you spend on good causes.

Moreover, when you participate in charitable activities and partner up with nonprofit organizations, you’re not only attracting potential customers but possible business opportunities. You can meet new people who can help your business grow. They may not necessarily be fellow entrepreneurs. You can exchange skills and innovative ideas with them that will give you a new perspective in business.

4. It attracts socially-minded talent to your company.

The majority of the existing employee pool consists of millennials who want to work for companies that are committed to making a difference in the world today. According to the 2017 Deloitte Millennial Survey, they believe that the workplace is the best avenue to have influence on the problems that we’re currently facing. So, they look for enterprises who are involved in solving environmental, political, and social issues.

The current workforce now hopes to have a more meaningful career in their chosen field. They are less tempted by offers of free food, gym memberships, and massage therapies. You can still provide these benefits, but if you can also make opportunities available for them to take part in community outreach and volunteer activities. It also allows you to attract applicants who have the same set of values as you.

5. It boosts employee morale and engagement.

Involving your company in charitable activities has a way of improving the culture of your company. When your employees volunteer together, their teamwork improves and becomes stronger. They get to know each other while working together in a different environment from their usual office desks. Most importantly, they are having fun and doing something meaningful and worthwhile.

In addition, volunteering helps in increasing your staff’s morale and motivation. When their workplace also participates in the activities that they are passionate about, they become more engaged and happy. They are also more likely to develop new skills and grow a sense of trust, making them want to stay and help your business progress. As a result, there’ll be less turnover in your company.

6. It allows you to help the community around you.

You may enjoy a lot of advantages from doing charity work in the form of financial gains, business opportunities, and employee engagement. However, the main goal of partnering with nonprofit organizations is still to help. Your community may be benefiting from your involvement, but you can also benefit from the fact that you’re able to offer assistance to those in need.

Not everyone has the luxury of the resources or time necessary to donate or volunteer. So it’s still a privilege, especially because giving back allows us to feel fulfilled and accomplished. After all, supporting charitable causes lets you change the world in your own little way. Your involvement can either alleviate poverty, aid calamity victims, protect abused women and children, or stop human rights violations.

If you think that giving to charity only benefits the community around you, think again. Taking part in meaningful activities can do a lot of wonderful things for your company. So it makes sense to add corporate giving to your objectives. But remember that philanthropic acts are not just a way to gain more publicity or profit. Keep your focus on the ultimate objective, which is to change the world one step at a time.

Don’t carelessly choose a humanitarian cause and organization to support. Make sure the charity you pick aligns well with your company values and brand. Do your research and strategize! Look for a charitable organization that perfectly suits the services that you are offering for greater success. In addition, be transparent about your expectations with one another. Be honest about what you can provide to make the partnership work. You should also ensure that your contributions can create a positive impact and they can produce tangible results.

Business owners, whether they own small companies or big enterprises, have the ability to make a difference. You don’t have to change the whole world. You can focus on the community you’re part of. Find out what it needs and find ways to provide them. Talk to local nonprofit organizations. No help is too small - they are always in need of funding, support and promotional opportunities - so there’s always a room for you to help.

Happy #WorldHumanitarianDay!

“The emphasis placed by more and more companies on corporate social responsibility symbolises the recognition that prosperity is best achieved in an inclusive society.”
- Tony Blair

Author:

@Dianne Claveria

Date:

08-19-2021

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