As head of CFO Selections corporate philanthropy initiatives, the question I get most often, especially now at budget time, from other company executives is, “What is the right amount of money to budget for donations?”
Before answering this question, I usually ask,
“What are you hoping to achieve with your corporate philanthropy?”
Being recognized for Corporate Philanthropy has long been thought of as a nice PR benefit of business giving. However, “giving” just isn’t enough. Even being a good corporate citizen can be improved upon. Being a socially responsible business should be the goal of every company's giving program.
Corporate Social Responsibility makes good business sense.
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