23 Aug '11, 10am

Corporate Philanthropy: The Business Case

Corporate Philanthropy: The Business Case

Make sure the company’s business and giving programs have synergy : a building supplies company or engineering firm could donate to community housing programs; Tonello provides the analogy of publishing companies assisting literacy programs. The roles of executives and directors should be absolutely clear : strong oversight can avoid using corporate funds as a personal piggy bank for having a CEO’s name adorn his or her child’s private school gymnasium. According to Tonello, the board or a committee of directors and executives can ensure donation’s align with the company’s mission. Ensure board members’ independence : Are corporate gifts going to a non-profit closely tied with one of the board’s directors? Self-regulation organizations like the New York Stock Exchange or NASDAQ offer guidance on corporate philanthropy–many companies actually have standards that are even st...

Full article: http://www.triplepundit.com/2011/08/corporate-philanthrop...

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