In the century since steel baron Andrew Carnegie launched the Carnegie Corporation of New York, corporations have been driving strategic philanthropy and social impact. Corporate Social Responsibility (CSR)  has become expected from the modern American corporation: corporations have not only achieved social impact through their foundation counterparts, but also through giving billions of dollars of private funds in causes each year.

A new report from the Council on Foundations (COF), “Increasing Impact, Enhancing Value: A Practitioner’s Guide to Leading Corporate Philanthropy,” outlines steps to redefine corporate philanthropy in the U.S. building on a 2010 survey in which the majority of respondents stated that it was no longer enough for corporations to solely give money. COF’s guide outlines strategies for corporations to better integrate philanthropy into their business practices. This approach is meant to create sustainable “shared value” (a belief that the health of the company and the health of society are intertwined) through social investment (which considers both financial return and social good), identifying causes that align with the company’s mission, monitoring outcomes, and disseminating philanthropic results throughout the corporation.

“Increasing Impact” was developed at a critical point for corporate philanthropy. The corporate world needs to see philanthropy less as dollar donations and more as a symbiotic partnership where both communities and corporations benefit. The Center for Arab American Philanthropy houses business donor-advised funds to meet your company’s philanthropic goals. Contact us to learn more about business donor-advised funds and how your company can create shared value with the causes you wish to impact.

Related articles

Leave a Reply

Your email address will not be published. Required fields are marked *