Recent studies suggest that millennials have driven the social responsibility movement, with 70 percent of them reporting that they'll spend more with brands that support causes. Given that millennials represent $2.45 trillion in spending power, the notion of "giving back" may be very powerful for your company's sales, not to mention, it's overall purpose.

Numerous enterprise businesses have come up with some pretty creative ways of doing social good - for example, Stella Artois' "Buy a Lady a Drink" campaign, which provides access to clean drinking water to women (mothers) in third world countries. But you don't need a huge budget or full marketing team to execute a strong "giving back" campaign. Corporate donations are a great way to generously help nonprofit organizations that matter to you, your employees, and your community. Most small businesses are able to make charitable donations each year. There are numerous benefits to corporate donations, but here are four that you may want to consider.

  1. Employee Morale
  2. Increased Marketing
  3. Tax Deduction
  4. It's Good for Your Community

Read the full article about the business of philanthropy by Molly St. Louis at Inc.