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Lately, I’ve been thinking about something a friend told me about his late grandfather. In his early 20s, the man left violence and oppression in Eastern Europe to find financial success on this side of the world, but the business went belly up during the Great Depression. He was in his early 60s before he found solid financial success again. Every year starting in October or November, my friend’s grandfather would sit down and send a donation to every one of the many charities that sent requests. It was usually $50, but sometimes it was more. The amount was less important than the act of recognizing his good fortune. “When I didn’t have it I couldn’t give, now I can so I do,” he would say. Seems to me that’s a good lesson for this season of giving and all year ’round.
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I want to take this opportunity to wish all my clients, colleagues, and friends a very happy holidays. Thank you to the County House Research team for all their hard work and good fellowship. A happy New Year to all. May 2018 bring health, peace, and prosperity. Cheers!
Philabundance is the Delaware Valley’s largest hunger relief organization distributing food to 90,000 kids, seniors, veterans, people with disabilities, and others in the community who need food assistance. As we head into the holiday season, please join us in supporting their efforts.
The business benefits of corporate philanthropy are often overlooked, especially by small and medium sized business. But even small businesses can benefit from incorporating giving as a tactic in their overall business strategy.
Whether you call it corporate philanthropy, social giving, or giving back to the community, a corporate giving plan can be advantageous to any company. As this article in Fortune points out, corporate philanthropy can improve a company’s brand, raise worker satisfaction, and increase networking opportunities. Being known as a community-conscious business helps with reputation building and recruitment. The opportunity to co-brand and cross-promote your business with a local or national charity is an important tool for raising a business’ profile. Of course, as the Chronicle of Philanthropy writes, there are some potential downsides. Businesses, especially smaller ones, may have little control over effectiveness and impact, and there’s the effort and expense to consider. For a more scholarly take and some case studies, check out “Making the Business Case for Corporate Philanthropy” from the Harvard Law School Forum on Corporate Governance and Financial Regulation.