Giving Compass' Take:

• Today more businesses are implementing corporate resources to address social issues, rather than making monetary donations. Both the healthcare and tech sector is getting involved in this new approach to corporate philanthropy. 

• Does your business offer corporate philanthropy programs? Why might these be more successful than financial contributions? 

• Find out what makes a successful corporate social responsibility plan.

Corporate giving increased by 8% between 2016 and 2017. Businesses are becoming more aware of the positive impact they can have on societal issues, and stakeholders and consumers are also pushing businesses to look into philanthropy.

In the past, businesses primarily made monetary contributions but today more businesses are developing corporate programs that leverage corporate resources to tackle issues. Healthcare and tech companies are positioning themselves as leaders of this new philanthropic movement.

  • A new way of giving: Businesses are replacing one-time gifts with a more strategic approach. This new approach to philanthropy focuses on developing local resources that benefit an entire community.
  • Healthcare and corporate philanthropy: Healthcare organizations are uniquely positioned to address social issues like widespread health problems, access to healthcare and overall well-being. These organizations have access to existing experience, expertise and infrastructure that can be used to make a difference.
  • Philanthropy in the tech sector: Tech companies have become a force for change via educational programs, hiring practices and a culture of equality. Some companies are making a difference via the products and services they develop. Some products connect individuals to causes they care about while others support the activities of nonprofits.

Read the full article about trends in corporate philanthropy from Up to Us at Medium.