Launching a corporate philanthropy program

Giving back and being a good corporate citizen can create a “feel good” moment for the family and potentially garner positive public relations for the business. But this will happen only if family members remember that a company’s philanthropy is a business decision first and foremost, not an extension of family members’ personal interests or passions of family members. Corporate philanthropy must have its own process and strategy, defined and driven by the board or whoever makes the major business decisions in the company.

A corporate philanthropy program is no different from any other departmental activity. It needs clear directives, an action plan, clear measurement criteria and a budget.