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I am delighted, once again, to have an opportunity to share this space to convey useful information from others in the field. R. Marker
By Evan Hochberg, National Director of Community Involvement, Deloitte Services LP
Redefining Corporate Philanthropy: Looking Beyond the Dollar
It's no secret that, as nonprofit groups seek to accomplish their missions as efficiently as possible, they often look to corporations for financial donations. While U.S. corporations generously donated close to $13-billion to nonprofit groups, according to Giving USA 2007, that sum represents only about 1 percent of the operating budgets of nonprofit groups. We feel there’s a better way to give, a way that redefines traditional perspectives on corporate philanthropy and taps into corporate
Corporations have far more to offer than just dollars - their expertise in business strategy, operations, technology, marketing, human resources, finance, and many other areas can also be leveraged as a key part of their philanthropy and can often be of far greater value than cash contributions.
We call this approach skills-based volunteerism, when the corporate sector works collaboratively with nonprofits and offers their business knowledge, empowering nonprofits to address their own strategic, financial and/or operational challenges. Nonprofits might not be in business to make a profit, but they are in business and this approach builds stronger organizations that are better equipped to advance their social missions and impact local communities, both in the present and over the long term.
Putting a company's intellectual capital to work for society is not just altruistic; it is good for business. Not only will companies make more valuable social contributions, but their employees will gain important professional development opportunities, which we know is paramount to success in the corporate arena.
According to the 2008 Deloitte Volunteer IMPACT Survey, the vast majority of HR managers believe that volunteering business skills can be a powerful tool for cultivating critical business and leadership skills, and by intentionally integrating volunteer activities into talent development, they can add value to their programs. By leveraging skills-based volunteerism programs for the purpose of talent development, companies could meet a critical business objective while substantially increasing their support of the community - all without adding significant costs. This creates a win-win-win scenario for employees, companies, nonprofits and the communities they serve.
