5 Ways Working with a Non-Profit Can Benefit Your Business
Philanthropic involvement can positively influence your business in a variety of ways.
Many small and large businesses have learned that donating to and working with a non-profit organization or charity is beneficial to their growth and success. Philanthropic involvement can be extremely rewarding for your business as well as individual employees, both personally and financially. While non-profit companies depend on the support of small and large businesses to sustain their purpose, businesses depend on charities for networking, publicity, and personal fulfillment. Charitable involvement is produced without the expectation of financial gain, but there are certainly associated advantages. Making a positive difference within the community goes hand in hand with business accomplishments. Businesses across the nation have learned that donating and working with a non-profit organization or charity is beneficial for several reasons. Here are five major ways working with a non-profit can help your business.
Creates a Rewarding Experience for Your Employees
Working with a non-profit has a considerable number of perks, but one of the most important aspects is personal fulfillment. Being a part of something for the greater good of the community is not only beneficial for your business, it can also be extremely rewarding for individual employees. Donating to a charity or being a part of a philanthropy event is a great way to keep business employees happy and achieved. Happy employees lead to positive work environments which can increase productivity and stimulate creativity. Sponsoring and attending charity events as a team is a constructive way to build and improve employee relationships.
Increases Free Publicity
Donating or sponsoring a charity is a way for your business to raise awareness for a cause while promoting your business in partnership with an organization or event. Working and donating to a charity increases brand awareness, consumer goodwill, and company image. Sharing images of volunteer activities through social media is a great way to create free press. The charity or non-profit organization that your business is working with will most likely post your donation on their social media pages as well. There are a variety of marketing and public relations strategies that your business can use to lend your brand to a specific cause.
Establishes a Positive Reputation in the Community
Working with a non-profit organization or charity not only promotes positive publicity, it can build respect and a good reputation for your business. Giving back for the greater good can both maintain and increase the respectability of your business and those who are associated. Philanthropic events and donations maintain a valuable reputation for your business within the community. Consumers and clients tend to better support businesses that are involved with organizations they care about.
When your business donates to a non-profit group or charitable organization, the amount you donate is tax deductible. Charitable contributions can qualify as tax deductions against your business’s tax liability. In order to receive a tax deduction, the charity that your business is associated with must be approved by the IRS. They must also issue a tax form that you can file with your tax return.
Generates Networking Benefits
Building a respectful relationship with non-profit organization owners and business owners creates a continuous web that is favorable on both sides. Success and networking are often related. Attending networking events or planned charity meetings with others who are involved in the same cause creates new contacts and potential personal relationships. Building a personal relationship with charity employees and volunteers leads to making valuable new contacts with those invested in the same cause.
Overall, philanthropic involvement is valuable to your business, whether it be large or small. Volunteering or donating to a cause that your business cares about is essential to a healthy work environment, forming networking relationships and increasing the respectability of your brand and image. With hundreds and thousands of non-profit organizations growing and developing nationwide, there is a charity for every business owner or employee to take part in.