The Fast Company Impact Council highlights the transformative role of corporate philanthropy, especially amidst dwindling federal funding for nonprofits. The 2024 Giving USA Report shows corporate giving reached $36.6 billion in 2023, signifying its position as the fastest-growing revenue source for nonprofits. More than just financial contributions, corporations aim to engage strategically with communities through volunteering, expertise, and resources. Nonprofits can leverage employees' skills through volunteer programs, as studies reveal a strong correlation between workplace volunteering and employee advocacy, thus enhancing both corporate and community well-being.
Companies are looking for ways to strategically collaborate with organizations and communities, providing value beyond just financial support through time, talent, and treasure.
Employees who volunteer through their workplace are twice as likely to recommend their organization to job seekers, highlighting the reciprocal benefits of corporate philanthropy.
#corporate-philanthropy #nonprofit-funding #volunteerism #community-engagement #philanthropic-support
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