The current pandemic has had a significant economic impact on most everyone including charities and event companies. The current market has forced many to re-evaluate their revenue streams, expenses, and develop how best to go forward. Social Endurance encourages all charities and event companies to develop corporate partnerships to increase revenue and event participation, including through virtual events. For most charities and event companies, corporate partnerships have been underutilized and offer many benefits.
The benefits for corporations:
Increase employee engagement
Support employee health and wellness efforts
Support community engagement efforts
Increase employee retention
Reduce employee absenteeism
Team volunteer opportunities
The benefits for charities and event organizations:
Diversify funding streams
Increase event participation
Co-marketing - reach a new audience
At Social Endurance, we have recently received many questions regarding corporate partnerships. We are frequently asked, are businesses still giving during this pandemic? The answer is not all businesses are struggling right now. They need to continue to grow revenue. They are willing to entertain new ways to grow revenue and receive great public goodwill especially during difficult times.
These are just a few of the companies that are giving back big during this corona-virus pandemic:
Crocs will be donating 10,000 pairs of shoes per day to medical professionals
Dyson, known for their vacuums, are also manufacturing 15,000 ventilators for medical facilities.
Hugo Boss, has changed some of its manufacturing facilities to manufacture 180,000 face masks. They will also donate 10% of their sales to the American Red Cross.
Nordstrom is teaming up with Kaas Tailored to manufacture 100,000 sanitized masks and deliver them to Providence Health Services.
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.
Rhone. Will be donating 10% of all sales to the Direct Relief Foundation.
Kiehl's. Is donating 500,000 meals to Feeding America.
Theragun is partnering with Feeding America. They have contributed to more than 250K meals across the U.S. They will also donate 300 plus Theraguns and thousands of masks to hospitals around the U.S.
Golden Thread. The Houston-based company is donating 30% of all of it's proceeds from the Community Collection sales to the Houston Food Bank.
Made In Cookware. Will be donating 15% from the sales of it's Southern Smoke Collection to a local nonprofit.
Modern Citizen. For every order over $150, Modern Citizen will donate to Feeding America.
Summersalt will be donating $10 for every order over $125 to the No Kid Hungry nonprofit.
We also have to look at ‘Corporate Giving’ as a whole. Is corporate giving trending in the right direction and how are corporations engaging with the community? One of the best sources to view corporate giving is the Chief Executives for Corporate Purpose (CECP) website and yearly survey results. Corporate giving statistics:
Total giving by these 250 companies (multi-billion dollar companies) increased by 11 percent between 2016 and 2018, reaching $25.7 billion yearly
Contributions as a percentage of their pre-tax net income grew from 0.83 percent to 0.94 percent
Mostly composed of manufacturing companies, these showed the highest median cash giving in half of the program area categories, with Financial Services firms increasing their giving to community and economic development, and Industrials increasing their contributions to K-12 education.
The median percentage of employees participating in an annual workplace giving program was 39 percent.
Consistent with last year, 92 percent of surveyed companies offer at least one kind of gift matching program to their employees with 78 percent offering two.
Volunteer participation rates remained steady – increasing slightly from 33 to 34 percent. more companies are offering skills-based volunteer opportunities
At Social Endurance, we encourage all charities and event companies to develop corporate partnerships to increase revenue and event participation. This also diversifies your funding streams. The current pandemic provides you with the perfect opportunity to begin looking at how corporate partnerships can benefit your organization, recover lost revenue sooner and better stabilize your organization for the next economic year.