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How to Start a Corporate Philanthropy Program

May 03, 2024

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For those wondering how to start a corporate philanthropy program, in this article, we’ll look at what makes a corporate philanthropy program work, some ways in which it benefits corporations, and giving vehicles commonly chosen by corporations looking to make an impact.

Greater Houston Community Foundation partners with corporations large and small to develop corporate giving programs that align with and support business goals. 

If you’re interested in developing an impactful corporate giving program, send us a message today. 

Key Insights

  • Corporate philanthropy programs are the strategic allocation of a company’s resources to charitable causes. 
  • Corporate Citizenship and Corporate Social Responsibility take a broad view of how a company effects positive change. 
  • Corporate giving programs have the potential to positively impact organizations and the communities that they serve.
  • Donor advised funds and scholarship programs are some of the most popular giving vehicles for corporations. 
  • When it comes to corporate philanthropy, Greater Houston Community Foundation is your trusted partner. 

Table of Contents

What is a corporate philanthropy program?

A corporate philanthropy program, more commonly referred to as a corporate giving program, describes the strategic allocation of a company’s resources to charitable causes and initiatives. While the types of resources, the causes and initiatives, and the structures of these programs will be unique to the company, the concept of corporate philanthropy and its benefits remain the same. 

To understand what an effective corporate giving program encompasses, it’s important to understand terminology related to corporate philanthropy. 

  • Corporate Citizenship is, according to the Boston College Center for Corporate Citizenship, “how a company exercises its rights, obligations, privileges, and overall corporate responsibility within local and global environments.”
  • Corporate Social Responsibility takes the concept of Corporate Citizenship and elevates it to the level of global issues and environmental impact. 

Generally, you will find Corporate Citizenship Programs at small- to medium-sized organizations, while Corporate Social Responsibility Programs can be found at larger, global corporations.

Continue reading about Corporate Citizenship and Social Responsibility via our conversation with Joni Baird

Benefits of starting a corporate giving program

Corporate giving programs have the ability to make an immense impact on both the businesses running them and the communities they serve. Some prospective benefits of starting a corporate philanthropy program with Greater Houston Community Foundation include:

  • Reduced administrative burden on your staff can allow your business to focus on your mission and vision.
  • Working with an outsourced team of professionals can help assist with tax and fiduciary compliance.
  • Developing corporate programs can strengthen your brand reputation and open new opportunities.
  • Philanthropic partners like the Foundation can provide invaluable insights into the communities you want to reach.
  • Simplify your corporate giving by easily donating complex assets like stocks, bonds, real estate, business interests, or other illiquid assets. 
  • Partnering with the Foundation can simplify the grantmaking process, allowing you to share your vision while we handle the logistics to make it happen. 
  • Offering a meaningful corporate citizenship program can help your business attract and retain the best talent in the workforce. 

Aside from the numerous benefits that a giving program can provide for your company, the increased resources and administrative power of even the smallest business can multiply the positive impact that community members can make on their own. 

Getting started: how do you create a philanthropy program?

Before your company can effectively begin charitable giving, it is essential to develop a strategy that aligns with your organization’s values and optimizes your resources. Key components necessary for a successful plan include:

  • Evaluate your current corporate giving initiatives
  • Identify and assess the resources available for your giving strategy
  • Determine key issues that could impact your business and employees
  • Align your company’s desired community impact and target audience for philanthropic efforts
  • Define the roles of executives and employees as it relates to charitable giving
  • Explore causes that align with you company values and mission
  • Evaluate the impact of your charitable investments
  • Research the crucial elements of a corporate giving program, including the design, development, implementation, and monitoring of philanthropic initiatives.

There is extensive work required in refining the design and implementation of your program before considering the most suitable types of corporate giving programs for your organization. A comprehensive understanding of your organization’s goals will result in a more efficient and authentic philanthropic experience. A trusted partner like the Foundation can make this process easier for you by providing guidance, resources, and support every step of the way. 

How to organize corporate philanthropy: choose your giving vehicle

Once your charitable goals are developed, focus can shift to exploring the most suitable giving vehicles to achieve those objectives. 

While corporate philanthropy programs can vary in form, what is included in a corporate philanthropy program should be tailored to your unique needs. Working with an experienced team of philanthropic advisors is the best way to ensure that your giving program is customized to meet those specific needs. Some commonly effective types of corporate giving programs include the following. 

Types of corporate giving programs: corporate donor advised funds

A corporate donor advised fund is a great way for a business to streamline its philanthropic activities and is often a simple way to get started. Donor advised funds can potentially offer a tax-advantaged and flexible way to establish a culture of giving at your company and can be established at the individual or organizational level. 

Continue reading: What is a donor advised fund?

Types of corporate giving programs: scholarship programs

Creating a scholarship fund is a popular way to support hard-working students in your community and beyond, as well as potentially benefit corporate employees and their dependents. Through scholarships in Houston and communities your company calls home, your company can provide transformative opportunities that can impact communities for generations. By investing in education and empowering students with the resources they need to succeed, your company can make a lasting difference in the lives of individuals and the broader community, including your employees’ loved ones.

Greater Houston Community Foundation is here to remove the administrative burden of application and scholarship processing, allowing your company to be as engaged as you’d like in the scholarship process. Our team manages the entire scholarship fund process in compliance with IRS regulations.

Continue reading: How do you start a scholarship fund?

Types of corporate giving programs: other ways to give

While donor advised funds and scholarships are common methods of giving, there are various ways your company can engage in corporate philanthropy. Greater Houston Community Foundation offers additional opportunities, including:

  • Establishing employee relief funds for natural disasters in Houston and communities where your employees live can offer critical assistance to those in need, while supporting your internal team during times of crisis. 
  • Implementing matching gift programs can demonstrate support for employees’ charitable endeavors and amplify their impact. 
  • Establishing executive funds, which are personal charitable accounts that can accept either cash or a variety of appreciated assets, can also serve as a meaningful way to demonstrate appreciation for key leaders within your organization.

Your corporate philanthropy program can consist of a diverse range of giving vehicles. Regardless of how you give, who you partner with can have a significant impact on aligning your corporate giving program with your company mission and relieving the administrative headache that often accompanies such ventures.

Your partner in corporate giving: Greater Houston Community Foundation

When it comes to corporate giving, Greater Houston Community Foundation is your trusted partner. Whether you are seeking implementation and administration services or require consulting to clarify your giving vision, we are here to assist. By collaborating with your organization’s internal financial planners and advisors, we can help alleviate the administrative burden of establishing a program and transform your philanthropic aspirations into reality.

To learn more about how to start a corporate philanthropy program, contact us today at 713-333-2200 or connect with us to start a discussion. Discover how Enbridge and other clients have partnered with Greater Houston Community Foundation to effectively support their community’s needs.

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