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Insights Magazine
Business Insights for Women
PNC INSIGHTS Magazine Spring/Summer 2014 Issue
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Try these techniques to maximize your return on charitable donations.

You're probably aware of the benefits of "doing well by doing good," but are you maximizing the value of your company's philanthropic efforts? According to the Better Business Bureau, for every dollar a company gives to charitable organizations, it gains $2 to $3 in sales. While the primary goal of your corporate philanthropic efforts should be to help others, and you should choose causes that you and your team can support enthusiastically, these simple tactics will maximize the impact of your donation:

  • Think strategically.
    No doubt you're inundated with requests for donations. Rather than responding to these ad-hoc appeals, develop a defined giving program with a budget and a mission.
  • Choose carefully.
    Identify charitable causes that fit and enhance your brand. For example, a construction-products manufacturer might support Habitat for Humanity or another housing effort. Think locally, too, so your dollars stay in the communities in which you do business.
  • Consider your market.
    Besides geographic proximity, seek out charities whose constituencies--whether members or beneficiaries--overlap with your customer base, vendors or both. And don't forget that sitting on a charity's or event's board with other business executives can open doors.
  • Become a partner.
    Ask if your chosen charity will allow you to include its logo and information in your collateral materials and advertising. Designate a portion of the proceeds of specific product sales for your partner charity.
  • Make it real.
    Involve yourself and your employees in volunteer work, which can increase your visibility. As part of your corporate gift-giving program, consider making donations in the name of your clients and community partners. Take a cue from national organizations such as Heifer International and Save the Children and tell gift recipients exactly what was donated in their names--such as a roost of chickens for African farmers, for instance, or a backpack full of school supplies for kids in need.

To find a reputable charity, visit charity-rating websites such as the Better Business Bureau, givewell.org, charitywatch.org or charitynavigator.org.

 


The article you read was prepared for general information purposes by McMurry. These articles are for general information purposes only and are not intended to provide legal, tax, accounting or financial advice. PNC urges its customers to do independent research and to consult with financial and legal professionals before making any financial decisions.These articles may provide reference to Internet sites as a convenience to our readers. While PNC endeavors to provide resources that are reputable and safe, we cannot be held responsible for the information, products, or services obtained on such sites and will not be liable for any damages arising from your access to such sites. The content, accuracy, opinions expressed, and links provided by these resources are not investigated, verified, monitored or endorsed by PNC.