3 Benefits of Corporate Giving

Corporate giving has become an important tool for businesses to demonstrate their commitment to making a positive impact beyond profit margins. Corporate giving, also known as corporate philanthropy, is the act of businesses donating funds, resources, or products to charitable causes, nonprofit organizations, and communities. The purpose is to support the betterment of society by addressing social, environmental, and humanitarian needs.

Companies that engage in charitable giving recognize the value of giving back to the community. By incorporating corporate giving into your operations, you can not only benefit your communities and the causes you support but also benefit your company. Here are just a few benefits of corporate giving for your business:

1) Tax Benefits

Donations to qualified charitable organizations often come with tax deductions that reduce a company's overall tax liability. In general, you can get deductions on charitable donations of up to 50% of your Adjusted Gross Income (American Express Business Blueprint, 2023). Corporate giving can be financially advantageous while simultaneously making a positive impact on society.

2) Increase Customer Engagement

Consumers are more likely to do business with companies that have a reputation for charitable giving. 85% of consumers said they would choose a brand that supports a cause/charity over one that does not — meaning corporate giving attracts more customers and improves brand reputation (Rastegar, 2023).

3) Improve Employee Recruitment

Many employees today are looking for more than just a paycheck; they want to work for companies that are making a positive impact in the world. Corporate giving can improve your new employee recruitment efforts by making your workplace more appealing to purpose-driven workers. Corporate philanthropy is especially appealing to younger candidates like Millennials and Gen Z. 77% of recruiters believe that offering employee engagement opportunities is an important recruitment strategy to attract millennial candidates (Thompson, 2022).

Businesses can, and should, be a force for positive change and leave a lasting impact on the communities they serve. In the spirit of giving and making a difference, you can help develop youth in our community by making a financial investment in Mercy Works. Your contribution, regardless of size, will be used to deliver the highest possible quality of service to our young people and their families. There’s no better time than the holiday season to join the ranks of charitable companies, support your community, and create a beneficial influence on the lives of others.

References:

Joelle Harleston