Corporate Philanthropy
To get more corporations involved in philanthropy efforts, the Committee Encouraging Corporate Philanthropy (CECP) was introduced. This is an International organization that is dedicated to reaching out to corporate CEO’s to encourage them to do all they can to assist with various charity organizations, research programs, and education programs.
CECP works on many different levels including the public and private sectors of corporations. The also work to recruit corporate CEO’s who are willing to promote the idea of philanthropy to other corporations. Philanthropy is promoted by explaining to corporations that providing society with such benefits everyone can win. Diseases can be eliminated, literacy rates can be improved, and low income children can have access to computers and other technological advances.
There are many major corporations out there around the world that are recognized for their philanthropy efforts. Sony is not based in the United States yet they donate millions of dollars each year for literacy programs, the arts, education, health programs, and human services.
Microsoft has been criticized for monopolizing the software industry yet Bill Gates donates at least $30 million dollars per year for various philanthropy efforts. Some are through the Bill and Melinda Gates Foundation and some are done through other collaborated efforts. Donald Trump is noted as being a difficult businessman to work with, yet he too donates millions of dollars each year to worthy causes.
Corporations are able to deduct the funds they donate to charity, research, and education programs for tax purposes. The corporation is not required to disclose the particular programs that they donated funds to publicly. This is to protect their image from those in society who won’t agree with where they choose to donate the funds.
Most corporations who are financially able to do so willingly engage in philanthropy to satisfy their investors and to give back to society. They realize that they better position consumers are in the more likely they are to continue making purchases. Some corporations use their donation status to influence their public relations. When a corporation donates large amounts of money to any given charity it is often well publicized. Any corporation can benefit from positive media attention that is in a positive light.
