It’s agreed upon that partnering with a charity is an altruistic practice for any individual or business entity. Though corporate gain should never be the driving reason behind donations, the consequential benefits of affiliating your company with a charity are undeniable: it enriches the company’s reputation, gives networking opportunities, and provides tax deductions.
When it comes to choosing an organization, there is an abundance of options. According to the National Center for Charitable Statistics, the United States alone is home to more than 1.5 million charitable organizations. Narrowing your selection requires research and consideration. To help you make an educated decision on behalf of your business organization, CEO Sam Dushey shares some tips for companies seeking opportunities to partner with charities.
Find a Charity that Aligns with Your Company’s Mission
Select a charity that you feel compliments your professional passions. With so many nonprofit options, it’s key that you select one that has a purpose which aligns closely with your company’s mission. While you should not exclusively consider donating to charities in fields that relate to your industry, selecting a charity that operates in a similar realm can increase the value of your company’s involvement. For example, a mortgage business may find a housing charity that rebuilds homes after natural disasters an especially beneficial partner.
According to Sam Dushey, selecting a charity in your field also tends to increase employee engagement. When your company’s entire team is mobilized and passionate about the cause you’ve selected, it further enriches the charity/company partnership.
Save Donations for Small Charities
Often, small-scale local charities better utilize donations. If your company is considering partnering with a nonprofit, considering local charities in lieu of organization giants like the Salvation Army or Cancer Funds of America. Unfortunately, large relief organizations are frequently revealed as dishonest operations. Due to size, they are also capable of intentional vagueness about money usage, leaving donors in the dark about the charity’s overall effectiveness.
Outside of the fact that larger nonprofits are often riddled with corruption and ineffective money practices, choosing to support a small local charity gives your company the opportunity to improve the neighborhood in which they do business and make a lasting impression on the community.
Choose a Recommended Organization
For extra help sorting quality nonprofits from the frauds, many choose to consult the charity databases and search tools. A few great resources are Charity Navigator, GiveWell, and other similar assessment tools. These unbiased, third-party organizations help individuals and business owners select honest and effective nonprofit organizations that will best utilize donations for the greater good.
Besides helping determine if a charity is trustworthy and legitimate, organizations such as GiveWell also break down the organization’s overall efficacy based on an analysis of the charity’s spending. This allows potential donors to make educated decisions and select organizations that will do the most good with the money they receive.
As an experienced business professional, Sam Dushey understands the importance of charitable giving and encourages companies to give back to their community wherever possible.