Corporate giving can restore trust, report says

March 27, 2009

As needs escalate and profits sag, corporations are looking for ways to bolster their local communities and, in turn, their own financial well-being.

To be more effective in the dismal economic climate, corporations must take active steps to restore public trust through philanthropy, says a report by the Committee Encouraging Corporate Philanthropy.

The report says corporations should:

* Align philanthropic efforts with their overall business strategies and goals.

* Collaborate with a variety of companies and organizations to develop new ideas.

* Ensure funds are invested wisely by adhering to high performance standards.

* Find new and creative ways to give, including product donation, volunteerism and pro-bono services.

The Committee Encouraging Corporate Philanthropy is a forum of business leaders that aims to raise the level and quality of corporate giving.

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