Estimated reading time: 3 minutes
Many successful organizations understand the importance of corporate sponsorships and giving back to the communities in which they operate.
These organizations, both large and small, recognize their responsibility to support their communities and those living within them.
According to the foundation center, 86,203 grant-making foundations gave an estimated $62 billion in 2015 alone!
Larger organizations often have the resources to provide substantial contributions but smaller businesses can also provide value for their communities.
For instance, if you operate a local restaurant, you can encourage employees to volunteer to help clean up flooded areas in your community.
Giving is relative and the small needs of one organization may be just as important as the large need of another.
So whether your organization sponsors an annual fundraiser for cancer research, donates supplies for disaster relief, or provides volunteer labor to help a neighborhood food bank, every gift is important!
6 Advantages of Giving Back to Your Community
1. Having A Cause
As human beings, we all yearn for a purpose and a reason to exist and employees enjoy working for an organization that makes them feel like they have meaning in their work!
Corporate giving provides employees with an opportunity to champion a cause for positive change and give back to their communities.
This opportunity is what makes employees proud to represent an organization that gives.
2. Positive Public Relations
Giving back to the local community is another tactic that can be incorporated into your public relations strategy.
People will consume products and services from businesses that they see supporting their community.
These efforts send subtle, yet positive messages about the businesses’ interest in giving back by supporting a local event or charity.
3. Advertising/Name Recognition
Organizations that participate in local fundraising events get the added benefit of marketing their name and business.
Having the organization’s name and logo printed on signage, t-shirts or other marketing materials is a great way to advertise and increase name recognition within the community.
For example, think of the names you see printed on the backs of t-shirts at the annual Susan G Komen race.
4. Some Tax Advantages
Tax laws are complex, and seeking a professional about all of your tax questions is important, but there are some tax advantages to corporate sponsorship.
Seek a legal professional to see what advantages you might have when giving to a community event.
5. Employee Engagement
Employees want to work for organizations that demonstrate moral, ethical, and caring behaviors.
Employees take pride in working for an organization that gives back to its community and will often have a higher level of employee engagement.
6. Team Building Opportunity
Some businesses pay employees to volunteer for those organizations they sponsor and have relationships with.
I have seen this with teams of employees participating in a disaster relief project or a group of employees volunteering at an early childhood center.
Either experience takes the employee out of the work environment, fosters team building, and helps employees empathize with the needs of those less fortunate.
It is important for all of us to give back, but it is especially important for businesses to support the communities in which they operate.
Taking time to explore the needs of others, and committing resources to help those in need, is what makes us different from so many other nations.
If you would like to get started, there are many resources available to help find organizations in need of volunteers and corporate sponsors.
Does your organization sponsor anyone?