Giving Compass' Take:

• The Economic Club of Canada convened at the Global and Canadian Perspectives on the Future of Corporate Philanthropy event in which many representatives from United Way spoke about the changing nature of corporate philanthropy. 

• Will corporate philanthropy become the new norm? Millennials are loyal to companies that are committed to social good; will organizations feel the need to join social causes? 

• Read these five steps for effective corporate philanthropy. 


So what trends are impacting corporate philanthropy and what does that mean for those engaged in social purpose work?

This question was explored at the Economic Club of Canada event entitled:Global and Canadian Perspectives on the Future of Corporate Philanthropy featuring the leadership staff of the United Way movement in Toronto, Canada and globally and was moderated by the Economic Club President, Rhiannon Traill.

According to Brian Gallagher of United Way Worldwide (UWW) there are many trends to be aware of. The one that Brian believes is impacting society most profoundly is the transition from an industrial economy to a knowledge-based one. This new economy, Brian asserts, is driven by technology, is less geographically focused and leads to greater income inequality exacerbated by the pace of change that is requiring us to re-write our social contracts.

Daniele Zanotti of United Way Greater Toronto (UWGT) noted the need to go beyond fundraising or social service provision to “building civic muscle”. He gave examples of how they are now co-creating neighborhood programs with corporations like BMO, and working with labor, public and private sector partners on the implementation of Community Benefit Agreements around the Eglinton Crosstown extension.

This is a key area of focus worth exploring more fully: the fact that it is possible to not only “do good” but to achieve business objectives while doing so. This approach is often more sustainable than traditional philanthropy as it keeps corporates engaged from the C-suite on down and is less likely to be seen as a distraction.

In building a pro bono ecosystem in Canada, we have focused on the movement from transactional to transformational relationships. United Way agrees that the time of transactional relationships is over. It is now about “customized approaches that are being built to move the needle on social issues”.

Read the full article about corporate philanthropy by Allyson Hewitt at Medium.