Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders. CSR takes a number of different forms, and companies can implement customized CSR strategies that fit their business models and are responsive to the needs and interests of their employees. Regardless of the form that a CSR program takes, companies that implement and prioritize CSR report the following benefits:
- Improved Public Image
- Increased Media Coverage
- Boosted Employee Engagement
- Satisfied and Engaged Customers
- Increased Innovation and Creativity
- Cost Savings
- Brand Differentiation and Competitive Advantage
- Attraction and Retention of Employees and Investors
Central Indiana Community Foundation (CICF) can be your philanthropic partner in the development and implementation of CSR programs for your business owner clients. (Read how we’ve recently done this work with OrthoIndy.) Businesses of all sizes are increasingly turning to corporate-advised funds, where the donor company invests money in an account dedicated solely to charitable giving and then uses that money to make a difference in the community, as the foundational piece of their CSR program. Organizations of all sizes can reap the benefits of a corporate-advised fund, as corporate-advised funds provide many of the same benefits of a private foundation without the added hassle and, for many companies, prohibitive expense. CICF works with the company to determine the guidelines for the kinds of nonprofit organizations the corporate-advised fund will support. Many companies use their corporate-advised fund to support charities and causes their employees are passionate about through an employee advisory committee and/or an employee matching gift program. Others set guidelines that align with the company’s mission or values. Some focus their giving on specific organizations or issues connected to the company’s industry. Whatever the company’s philanthropic goals, CICF can help.
a business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders
A corporate-advised fund can be sustained with a one-time donation or through recurring gifts. The company is typically the primary funder, but employees and others can contribute to the fund and receive a charitable income tax deduction. At the company’s recommendation, the corporate-advised fund can be invested in one of the community foundation’s investment pools or invested with its own financial advisor. A corporate-advised fund can be a perfect addition to an existing CSR program or a great place to start. It can be the overarching umbrella of a company’s CSR program and then smaller, more detail giving programs can be implemented within that umbrella to meet the needs and interests of employees and the community. Through a corporate-advised fund, CICF can assist in the implementation and management of these additional services, including matching gift programs, employer scholarships, identification and management of company-wide volunteerism efforts (company-wide volunteer work days, other volunteer opportunities, volunteer tracking, etc.), and more.
The scope of services offered to corporate donors reaches far and wide. CICF’s expert staff works closely with each organization to tailor its strategy to fit the company’s culture and financial capacity. Establishing a corporate-advised fund, developing a customized CSR program to meet the company’s needs, and outsourcing all backend logistics to CICF allows your business owner clients to focus on what matters: building and sustaining a culture of philanthropy throughout the organization.
CONTACT US TO learn more about how CICF works with companies of all sizes
Vice President of Development and Strategy
Director and Legal Counsel for Charitable Gift Planning
Senior Gift Planning Advisor