3 Tips for Picking the Right Corporate Philanthropy Partner

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value of money

Partnering with a company to help with your corporate philanthropy duties can lessen the stresses related to giving on a large scale. Ensuring that the money being gifted finds the proper recipients in a timely fashion can save your corporation the headache of receiving negative publicity. Delivering on your promise can create positive publicity for your organization while generating good business karma for your company.

Corporate social responsibility managers need to choose partners which fit their core needs. Ensure that your potential partner uses robust systems to effectively track funds.Using real time tracking tools can help you keep your employees abreast of how and when money is distributed. Select a corporate philanthropy partner who can work efficiently and properly address your needs in a timely fashion.Before choosing a solution ensure that your potential provider can meet your specific requirements. Time spent vetting partners now can create a smoother process once funds change hands.

Ensure that You Lessen Your Company’s Workload

The main reason why you hire a corporate philanthropy partner is to lessen the workload placed on your employees. Even the largest, most productive corporations tend to have a difficult time handling the increased tasks that are consistent with handling charitable or philanthropic endeavors. If your partner creates more obstacles than solutions terminate your relationship and choose a company which makes your job easier.Select an organization which has displayed a high level of service in dealing with their customers.Seek references from current customers to gain confidence in your prospective philanthropy partner. Word of mouth marketing is usually a strong indicator of how effectively a company can offer their services to a client.

Seek a Strong Return on Investment

Gauge whether or not your partner is saving your business precious time and money before continuing your relationship. Each business transaction involves the exchange of money for some product or service. Checking your return on investment, or ROI, can quickly indicate whether or not your money is being spent wisely. If you can see similar returns by simply adding a few additional team members in house you should terminate your partnership and go the less expensive route.

Demand that the Money Arrives Where it Needs to Go

Corporate philanthropy providers should move funds to where they need to go quickly and effectively. If the money being gifted does not reach the proper recipients in a timely fashion your company can suffer a black eye.Ensure that your company’s generosity finds the right people by hiring a partner which maintains their own distributing and processing system. Avoid organizations which hire out a third party to handle these duties; using a third party can result in improper handling of funds and delays in processing.

About the Author: Kelli Cooper is a blogger who enjoys writing about philanthropy and charitable endeavors. Click the John Studzinski profile to learn more about starting a philanthropic venture.For more information on philanthropy please click the following link John Studzinski.