2017-03-01 00:00:00 Self Employed English Choosing the best charities to donate to requires a little time and effort, preventing your business from making a potentially bad decision. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/Female-business-consultant-poses-for-photo-in-office-while-discussing-corporate-philanthropy.jpg https://quickbooks.intuit.com/ca/resources/self-employed/how-choose-charities-corporate-philanthropy/ How to Choose Charities for Corporate Philanthropy

How to Choose Charities for Corporate Philanthropy

2 min read

Contributing to charitable causes can be a great way to give back to the community that supports your small business. Whether you give financial donations or put in volunteer hours, it’s important to consider which charities are the best fit for your philanthropic efforts. Take some time to evaluate prospective nonprofit organizations. Learn about their accomplishments, and consider which charitable concerns resonate with you and your employees. You might even want to create a corporate mission statement on charitable giving that aligns with your company philosophy. In addition to the personal satisfaction that comes from corporate philanthropy, your company can also reap benefits through your charitable work by generating positive feelings about your business in the community.

Make It Personal

In a small business environment, it’s likely that some of your employees are already involved in volunteerism. Certain causes may hit especially close to home. If one of your team members is diagnosed with a serious illness, for example, their coworkers might feel highly motivated to support a charity that provides medical services, conducts research for a cure, or educates the public about tools for early detection. Personal connections generate passion for a cause. Participating in a marathon, collecting canned goods for a food pantry, or serving meals at a homeless shelter can also boost company morale and promote team building.

Keep It Local

If you operate in a defined geographical area, take on causes that have roots in the community. Consider raising funds for your local animal shelter, or write a check to support after-school programs in your area. When employees and clients feel connected to a charity, they’re more likely to stay involved by signing up for extra volunteer hours or by making periodic financial donations after a fundraising campaign ends. It’s often easier to feel a personal connection to a small local charity than a large national organization. Actually seeing the positive impact a local charity has on your community is a powerful motivator for involvement.

Know Who You’re Supporting

There are thousands of charitable organizations across Canada. Perform due diligence when choosing a charity to support. It’s simple to research nonprofit organizations and their track records by conducting some basic online research. Charity Intelligence Canada makes online financial reports available to the public and also affixes a rating to each listed charity. Promote organizations with a history of responsible stewardship of donations. If you can’t find financial information online or if the charity hesitates to provide an accounting of donations, that should send up a red flag. Choose local, transparent charities that support causes with personal meaning for your employees and that fit your company’s mission statement. That helps everyone involved feel good about your company’s philanthropic endeavors. Be sure to record financial donations to get the maximum tax benefits. The QuickBooks Self-Employed app helps freelancers, contractors, and sole proprietors track manage your business on the go. Download the app and take control of your financial future.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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