Everyday people form the backbone of charitable giving in the USA, but business is a driving force behind that, with the National Philanthropic Trust finding that charitable business assets totaled $85bn. A clear sign of the importance US corporations place on philanthropy, these numbers only increase as foundations like the Gates’ influence smaller companies. What, exactly, motivates business to give money away to those less fortunate?
Brand and reputation are linked to charity but that’s not the only reason. It seems counterintuitive also to give money away freely, so money might not be the benefit. Instead, look at the stories of philanthropy, and how they inspire social change; in the end, everyone is benefited, including the business.…Continue reading