Corporate charity has become a hot new trend among growing businesses. It’s nothing new, but more and more companies have found that they receive more benefits in the long run than what they lose in donated funds. Whether you’re running a one man operation out of your garage or are the CEO of a multi-billion dollar company, any charitable act usually leads to good results. There are many opinions on the moral aspect of corporate charity, namely should companies give with no ulterior motives or do some companies give solely to be seen as a “good” company? Whatever the reason may be, there are many good benefits for both the company and the receivers of corporate charity. Just to list a few…
Companies that give to charity can use the donations as a tax deduction. Depending on your income, you can work with IRS approved nonprofit organizations to help with a charitable cause while still receiving a tax deduction. Studies have shown, customers are more loyal and apt to buy from companies that donate to causes that they are passionate about. Going along with customer support is free publicity when it comes to corporate charity. Many companies will give employees paid time to volunteer at a charity of their choice. When they volunteer they can promote the company by wearing clothes with company logos and branding. This helps brand the company as a charitable company that emphasizes giving on an employee and corporate level. Even with all the benefits aside, corporate charity will help employees and bosses feel better about themselves and the companies they work for. Knowing that its not all about the “bottom dollar” can help employees want to stay at a company and help employers know they have the best, most moral people working for them. It is never too late to begin giving, even if you only have a small home based business. Consult your accountant and look for ways you can give your time or means to a charity that you or your customers are passionate about.