22 Corporate Philanthropy Essentials in Business

Welcome to our guide on 22 corporate philanthropy essentials in business! In today’s world, it’s becoming increasingly important for companies to not only focus on their bottom line, but also give back to the community and make a positive impact. That’s where corporate philanthropy comes in.

1. Corporate Philanthropy: The act of a corporation or business promoting the welfare of others, generally via charitable donations of funds or time.

    

2. Corporate Social Responsibility (CSR): A self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public.

    

3. Social Impact: The effect of an organization’s actions (particularly its CSR initiatives) on the well-being of the community or society.

    

4. Nonprofit Organization: An organization dedicated to furthering a particular social cause or advocating for a shared point of view, without the goal of making profits.

    

5. Charitable Trust: A trust established for charitable purposes, and is a more specific term than “charitable organization”.

    

6. Matching Gift Program: A corporate philanthropy program that matches employees’ charitable contributions.

    

7. Grant: A financial donation given to a non-profit organization, often by a corporation or a foundation.

    

8. Sponsorship: Financial or in-kind support of an event, activity, person, or organization by a business or individual, often for specific benefits.

    

9. Community Investment: Financial contributions, including grants and sponsorships, made by a company to community-based organizations.

    

10. Corporate Foundation: A private foundation that derives its principal fund from a for-profit company.

     

11. Philanthropic Strategy: A plan or approach employed by a corporation to achieve its charitable and community support goals.

     

12. Employee Volunteer Program: A company-sponsored program that encourages employees to volunteer their time to support community service activities.

     

13. Impact Investing: Investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return.

     

14. Sustainable Development Goals (SDGs): A collection of 17 global goals set by the United Nations to achieve a better and more sustainable future for all.

     

15. Cause Marketing: Marketing strategies used by a company to increase profits by supporting a social cause or issue.

     

16. Social Entrepreneurship: The use of business techniques to develop, fund, and implement solutions to social, cultural, or environmental issues.

     

17. ESG (Environmental, Social, and Governance): Criteria used to assess a company’s ethical impact and sustainability practices.

     

18. Community Outreach: The practice of conducting local public awareness activities through targeted community interaction.

     

19. Donor-Advised Fund: A philanthropic vehicle that allows donors to make a charitable contribution, receive an immediate tax benefit, and then recommend grants from the fund over time.

     

20. Stakeholder Engagement: The process by which an organization involves people who may be affected by the decisions it makes or who can influence the implementation of its decisions.

     

21. Volunteer Time Off (VTO): A company benefit that offers paid time off to employees, which they can use to volunteer at a charity of their choice.

     

22. In-Kind Donation: A kind of charitable giving in which, instead of giving money to buy needed goods and services, the goods and services themselves are given.

These terms encompass the various aspects and forms of corporate philanthropy, providing a comprehensive understanding of how businesses engage in and contribute to societal and community welfare.