Corporations routinely use philanthropy to build a strong brand and reputation. Some philanthropic donations are in the form of time, but most are monetary donations. For example, billionaires like Bill Gates, Michael Dell, and Warren Buffet regularly donate to nonprofit organizations and charities, including their own foundations. Between 2014 and 2018, Buffet donated $14.7 billion and the Gates donated $9.9 billion.
What do billionaires gain from donating excessively high amounts of money? Their donations and involvement with meaningful causes establishes a positive reputation that creates consumer trust and tends to outweigh negative press.
Have you been curious about how philanthropy can support your business?…Continue reading