We speak of corporate giving when there is a financial commitment on the part of a company in order to pursue business objectives and make a contribution to social welfare.
The term corporate giving includes all charitable initiatives where a company donates goods, services, or outright sums of money.
These actions benefit a non-profit organization, for social or humanitarian purposes.
The main objective of corporate giving is to grow one's reputation towards the stakeholders.
Corporate giving programs
A company can support organizations through various programs:
- Corporate philanthropy: charitable donation made to a non-profit organization that is carried out without any profit for the company. It is the simplest program and does not require a prior agreement for both parties;
- Strategic corporate philanthropy: a company's donation that is part of a competitive strategy and meets the needs to balance economic and social objectives;
- Cause Related Marketing (CRM): the company contributes to realizing a social interest project by providing financial resources in proportion to the turnover resulting from the partnership;
- Licensing: also translated as logo licensing. In practice, the partnership allows the non-profit organization to grant its brand to the profit company in exchange for an economic compensation;
- Sponsorship: also translated as social sponsorships. It is a sponsorship agreement where the company commits to funding a non-profit organization, in return for the possibility of associating its own brand with that of the organization;
- Joint promotion: a form of commercial collaboration where the product is used as a means to convey the message;
- Joint fund raising: a form of commercial collaboration where the company acts as an intermediary for fundraising among its customers and the non-profit organization;
- Prize contests and point collections: initiatives in favor of a non-profit organization, where there is a catalog and products for point collection;
- Volunteer program: corporate giving programs that involve the internal staff of the company;
- Payroll giving: a fundraising initiative where the company itself advocates collecting donations from employees. They can choose either to make a monthly donation or to donate one or more hours of paid leave.
Taking inspiration from these programs is important to know which corporate giving program can support your company.
You can do it too, you just need a lot of commitment and an excellent marketing and sales platform.
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