Contributing to Charity: It’s Payback Time
While making money is a key priority for businesses, a large number of them also look towards giving some of it back to the community. Have you been thinking about contributing to charity of late? Great idea, we say! There are many ways to support a cause that is close to your heart; here are some ideas.
Identify an organization that you’d like to associate with.
Contributing to charity is not really as simple as it sounds. Sure, the philanthropic motive is the cornerstone of this decision, and regardless of the cause you choose to support, it is money well spent... still, you might want to reflect upon the uses your money will be put to. Select an organization which shares your ideals and ideology. There is an abundance of charitable and not-for-profit agencies out there, many of which support only specific communities based on religion or ethnicity. You might want to stay away from these, especially if your business is an equal opportunity employer, and has a multicultural staff. On the other hand, giving to an organization like the Breast Cancer Donation Shop, which you can do through, is a commendable way of demonstrating your support to those battling the disease.
Also, find out what the reputation of the recipient agency is like – do they use the money wisely, is it deployed quickly, and are the people contributing to charity kept well informed of new developments?
Choose a suitable cause.
It is a smart tactic for businesses contributing to charity to identify a purpose that is in sync with their main activity. For example, a knowledge or education based business may like to sponsor the schooling expenses of kids from poorer households. On the other hand, the owner of a handicrafts gallery may wish to do something to improve the condition of local artisans. Remember, that your company is making a very deliberate statement about the values it espouses by contributing to charity. Make sure the public reads your lips right.
It takes more than money.
Who said contributing to charity only meant writing out an annual check? Even if your business is small, with limited financial resources, you can make a great contribution in other ways. If you truly believe in a certain cause, don’t shy away from wearing your heart on your sleeve. As a business owner, you probably have a say in your community, and are part of a network that includes professional associates, informal member groups and so on. Reach out to them. You can render even greater service by securing the participation of others in causes that you hold dear.
Ensure continuity.
Charity, like everything else, needs the commitment of its supporters in order to succeed. While you’re in business, you should plan to align with a charitable cause over a long term period. More importantly, you can ensure that the relationship lives on even after you’ve moved out of the business. If you’re selling out, you can donate stock to certain authorized community foundations. Not only will that ensure the continuity of your association in the future, it will also bring you immediate financial gains in terms of tax relief. Now that’s money worth spending, isn’t it?
Hi, I'm Akhil Shahani, a serial entrepreneur who wants to help you succeed. If you like to work smart, check out http://www.SmartEntrepreneur.net . It's full of articles and resources to help you start and grow your business successfully. Please visit us & download our special "Freebie of The Month" at
http://www.smartentrepreneur.net/freebie-of-the-month.html
Article Source: ArticlesBase.com - Contributing to Charity: It’s Payback Time