Giving Compass' Take:

• Tim Smith, Head of Pledge 1% Boston and Senior Director at The Boston Foundation, shares the movement he sees in corporate social responsibility and business as a whole.

• How can philanthropy encourage this movement? 

• Find out how Audible is making an impact. 

What are the newest trends in cross-sector CSR and philanthropy you see from your vantage point?

The number one trend is efficiency. Companies used to make grants here and there and sponsor events, but now they are focusing on creating deep, multi-year partnerships with fewer nonprofits. They are looking at how funding can be amplified by employee time and product donation, and how their employees can give back along all of these different dimensions.

Companies are also working together through funder collaboratives, where a leading entity might define an issue in the community and, instead of one company taking the lead, they leverage the support of community foundations or philanthropic organizations. This approach is less focused on a company’s individual brand or funds, and more about the overall impact. On the nonprofit side, nonprofits are starting to understand that companies are only a small piece of the funding pie and that there is value in individual cultivation.

From your experience at The Boston Foundation, how do you think the next generation is shaping philanthropy within the corporate sector and making it a core part of business? 

Social impact is now ingrained in most founders of companies – either they themselves are learning the importance of respecting and connecting with their communities or they are realizing that is what people coming into the workplace are looking for in their roles. Corporate leaders are embracing the mixed motive – impact on the community, attracting/retaining top talent, and elevating the brand of a company. It is a no-brainer to give back whether that be through money, time or product. This work used to be driven by employees, but now begins with leadership and reverberates through the whole business.

Read the full article with Tim Smith about corporate social responsibility by Lauren Chasanoff at 3BL Media.