Giving Compass' Take:

•  Good360 discusses the multiple benefits of "product philanthropy," or donating goods. One reason includes keeping less stuff out of the landfills. 

• How can companies integrate product philanthropy into their supply chain?

• Read about strategies that work for corporate philanthropists. 

By instituting a regular practice of donating goods, companies can drive real benefits in all three areas. Product donations can improve the bottom line while directly helping communities in need around the country and internationally. They can also reduce the number of excess goods that end up in our landfills.

Product philanthropy can serve to better engage employees in the company’s mission and create a “halo effect” that helps in recruiting fresh talent. It can build brand equity and increase the loyalty of consumers who are increasingly voting with their pocketbooks to support socially conscious businesses.

Cleaning out your warehouse once or twice a year, and donating the excess goods to a charitable organization such as Good360 is a fine thing to do. We welcome any donations that can be of use to our nonprofit partners. The greater good comes when companies integrate product philanthropy directly into their supply chains, making it a systematic part of how the business operates day in and day out.

As these best practices illustrate, the key is to be highly strategic about what you’re giving so you’re delivering the right products to the right people at the right time. For decades, Good360 has been working to be the bridge that brings together corporations and nonprofit partners to realize this vision.

Read the full article about product philanthropy from Good360 at Medium