Direct your charitable contributions toward marketing effortsTax-free charitable contributions are good for business in a number of ways. As a good corporate citizen, you want to give back to the community that supports you with charitable donations as part of your karmic business model. And you want to direct your charitable gifts to organizations that serve and are served by your customer base.
If you have not set up a regular business charitable contributions program, take the time to start. Use the tax-free charitable contributions to offset your tax burden and increase your goodwill in the area where your business is located. Make the charitable contributions an integral part of your marketing and public relations strategy. This is no time for modesty. Nonprofit organizations appreciate your charitable donations and are happy to give you exposure and sing your praises. Begin this process by doing the following:
1. Choose two or three nonprofits to target your business charitable contribution.
2. Sponsor a popular event with a tax-free contribution.
3. Assign an employee to keep the accounting for charitable contributions or outsource the job.
Find like-minded groups to support with business charitable donations
Attach your name to a good cause with charitable giftsSponsors are used for popular events such as golf tournaments, running events and fundraisers. Many charitable organizations receive a plethora of local media attention and will include your company name in programs, on banners and in advertising brochures. In addition to all the feel-good benefits and marketing opportunities you'll get from your charitable contributions plan, you also will be exposed to networking opportunities when you attend the event.
Designate a business charitable contribution point personAmong your staff, there is most likely one person with sensitivity to local charities that can help guide your charitable gifts program. Large corporations often have an entire department to take care of their philanthropy. Other companies choose to outsource their charitable contributions efforts or bring in a consultant as they make their first decisions.
- Offer paid time for all employees to become involved in a local charity. You can spread the tax-free contribution around a little more while building goodwill in more areas than you could as the owner, chief officer or philanthropy officer.
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