Most corporations continue to support community engagement initiatives during the COVID-19 pandemic. The current pandemic has forced corporations to create flexibility in their corporate giving and community engagement strategy. In order to better understand the current corporate giving efforts and strategies, Social Endurance has started video interviews of for-profit companies to share with the nonprofit and events industry. Overwhelmingly, corporations continue to support nonprofits, especially those nonprofits affected by the COVID-19 pandemic.
The lockdown that occurred due to the current pandemic created a negative impact on many nonprofits and event companies. This forced nonprofits and event companies to evaluate their funding streams. Many nonprofits realized that they had too few funding streams and most of their 'eggs' in one basket - individual giving. Event companies relied to heavily on registration revenue. Nonprofits and event companies quickly realized that they have to diversify their funding streams and still continue to grow revenue. The question is how? Social Endurance continues to promote the value and benefits of partnerships between corporations, nonprofits, and endurance event companies.
The Chief Executives for Corporate Purpose (CECP) is an organization of about 300 multibillion-dollar global companies that focus on social strategies to support the community. They also have some of the best data on corporate giving. Their data shows that its members are contributing close to 1% of pretax income back into the community. That's about $30B just from the CECP member companies alone. These global companies can also be seen as industry leaders and will inspire other companies from within their industries to do the same. People, customers, like to spend their money with companies that give back to the local community.
Here are just a few examples of how companies are giving during this pandemic.
Under Armour is donating one million dollar donation to Feeding America. The company is also manufacturing face shields and face masks to the medical industry.
Golden Thread. The Houston-based company is donating 30% of all of its proceeds from the Community Collection sales to the Houston Food Bank
Nonprofits and event companies have an excellent opportunity to diversify funding, grow revenue, and brand awareness through corporate partnerships. Nonprofits and event companies also provide excellent opportunities for corporations to meet their community engagement, giving, and employee wellness initiatives. Corporations can also receive great benefits through co-marketing and co-branding opportunities with nonprofits and endurance event companies. This also helps support two corporate goals - increasing employee engagement and brand loyalty. As you can see, if done right, this can be a big win-win for all parties involved.
Social Endurance partners with nonprofits and event companies to better understand the needs of corporations so they can create great corporate partnerships. Social Endurance also partners with for-profit companies to help develop impactful community engagement and employee wellness initiatives that increase overall employee engagement. Learn more at socialendurance.com