A Simple Business Guide to Effective Charitable Giving
Charitable giving helps people and organizations that need it the most. However, it can be difficult to find the right charity for your business needs. Here are some tips to help you choose which charities will work best for your company:
Do your research.
Your first step toward choosing the right charity is to do your research. While there are many good causes out there, not all charities are created equal. The most important thing to look for in a charity is alignment with your company’s values and how it plans on using donations.
Look at their website, social media accounts, and mission statement to get an idea of how they operate. Is there enough financial transparency? Do they answer questions from potential donors? Are they registered as a charitable organization with a regulatory body?
Pick a charity that speaks to you as much as it does your staff members. Your employees will feel more connected if it’s something they care about too; this way everyone wins! If you’re not sure where to start, ask your employees what causes are important to them and why. This gives you insight into their passions (and perhaps some new ideas for charitable giving).
See if you’re a co-branding match.
A good way to improve your business is by supporting a charity with good co-branding. This will help get your business some good publicity and build a relationship with the charitable organization.
You can also donate branded products or services to support the charitable organization. If your business is local, this is an easy way to get involved in your community. The best part is that it’s a win-win situation — both you and the charity are helping each other out!
Another way to create a good co-branding relationship is by sponsoring events or making donations to causes that matter to your customers. Support the causes you believe in, because at the end of the day, it’s your company’s name on whatever you do, (and because giving back is important).
Consider the misconceptions.
When it comes to charitable giving, there are a lot of misconceptions that can lead companies down the wrong path. Consider these common mistakes:
- Picking a charity just because it sounds good. While your company will be associated with the organization, if you don’t believe in its mission and goals, your employees won’t either.
- Picking a charity that doesn’t align with your industry. Is there a specific cause that is important within your industry?
Consider using an online resource like Charity Navigator to help find one that aligns with your business.
It’s easy to get caught up in the day-to-day of running your company, but taking time out of your busy schedule can be rewarding both personally and professionally.
The Reserves Network believes in doing good by choosing a charity or cause that means something to us—and we think it’s important for other companies too! By joining together as individuals, we can make an even bigger difference in the world than we could alone.
For the 2022 year, The Reserves Networks and its affiliates have made donations to the following charitable organizations:
