Why and How Entrepreneurs Give to Charitable Causes
- Efficient use of donated funds
- Proven track record or results
- Personal employee referrals
- Must be IRS-qualified public charity
- Grants to the organization may benefit their companies — drive business/alignment of cause with business mission
- Company may have ability to direct grants to specific programs
- Strong third-party rating
Entrepreneurs are early adopters of strategic giving vehicles
More than a third of respondents facilitate employee giving through company match or payroll deduction, and about 30 percent would consider establishing company match, payroll deduction and/or fund charitable accounts for employees.
Personal reasons and attitudes for supporting charities
- 48 percent say charitable giving was part of their upbringing.
- 42 percent have personally benefited from the charity of others.
- 90 percent donate time through volunteering, board service, lending expertise, etc.
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