7 Advantages of Participating In A Charity Fundraising Event
If you're in business long enough, you will be approached regularly by charities and non-profit organisations wanting you to donate your products, services, money or time for their fundraising events.
Here are some of the advantages to donating to a charity.
1. It's a cause you believe in
Altruism is literally, a money-can't-buy feeling. If you have personal exposure to the cause that the charity is raising money for, you will want to support it. It also just feels easier to provide something for nothing when you're passionate about it. If your employees feel a strong connection to a particular non-profit organisation, it becomes easy to make it part of your annual charitable giving program because your staff have "bought in" that it needs their support.
For example, my grandfather went legally blind in the 10 years before he died. Now my husband and I support Guide Dogs Victoria by being puppy raisers. We have donated our time for the past year, as well as getting behind drives to collect bedding for the puppy breeding centre. We are about to give back our little black Labrador Whimsy (pictured) who we have been looking after since she was seven weeks old.
2. The charity clearly relates to your business products or service
It makes most sense if your company supports a non-profit which has some kind of relevance or tie-in with your products or services.
A lingerie company supporting a breast cancer foundation is a natural fit (pardon the pun), while outdoors company Patagonia offers grants for small grassroots environmental activist organisations.
3. You make more of a direct difference to a smaller charity than a larger one
You can choose to work with a charity that isn't already well-funded and publicised and would really appreciate your support. While the biggest charities have the most support and, it must be said, credibility, your individual contribution tends to get lost in the reams of companies listed as sponsors, making your business somewhat of an also-ran unless you're the top supporter.
Simply put, you are more likely to make a bigger direct difference to a smaller non-profit if you are a small-medium business.
4. Create a brand-new event
If you plan to donate serious amounts of your products and services, cash or staff time, you can determine how it will best benefit the charity but also your business. You could even establish a particular special event connected with that charity depending on how much support you're giving.
5. You may be able to claim your donations
Check with your accountant before you plan to donate products, money or staff volunteer time. There may be certain levels from - as well as limits to - which you can claim taxable deductions for your donation.
6. Reach a new customer base
Another benefit of participating in a charity fundraising event is that you can reach new customers who may have never heard of your business before. Because the non-profit appeals to them, if your business has relevance, they may become more interested in your products and services.
7. Raise your profile in your community
Participating in a charity fundraising event may help raise your business and personal profile in your community. Let your customers and suppliers know who you're supporting and why - you might even get more people involved. Businesspeople of all levels tend to gain a certain credibility and respect for helping support a worthwhile cause.
Next post: The disadvantages of participating in a charity fundraising event.