Recent Studies suggest that millennials have driven the social responsibility movement, with 70 percent of them reporting that they'll spend more with brands that support causes. Given that millennials represent$2.45 trillion in spending power, the notion of "giving back" may be very powerful for your company's sales, not to mention, it's overall purpose.
You don't need a huge budget or full marketing team to execute a strong "giving back" campaign. Corporate donations are a great way to generously help nonprofit organizations that matter to you, your employees, and your community. Most small businesses are able to make charitable donations each year. There are numerous benefits to corporate donations, but here are four that you may want to consider.
1. Employee Matching and Volunteerism
Intercompany programs that promote employees getting involved. You can do this by encouraging your employees to get involved in a local charitable organization either by volunteering their time or making regular donations. As a corporation you can match the donation and or donate to the organization using a simple equation based on dollars equal to the amount of time the employee gives to said organization.
2. Tax deduction
The most obvious part of giving to a 501 c 3 organization on a regular basis is of course the great tax write off.
3. Increased marketing reach
Giving = Getting. Clients believe in social responsibility. They are more apt to trust a corporation or product that gives back for the betterment of others. We all know that emotions are a big part of sales. The idea of working with a company that practices the social responsibility of giving back to their community, their state, their country is the “edge” that every company should have.
4. It’s Good for the community
Who does not want a safe happy environment to live and work in? Charitable donations help better your community and the public will notice when a company is making a real effort to improve its surroundings.
When you choose to work with Michaels Memories we will help you set up these programs and supply you with all the necessary HR and tax information to get your annual giving program up and running.