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CORPORATE GIVING - GOOD FOR EVERYONE
Benefits of corporate giving:
CORPORATE GIVING OPTIONS
If you own a family business or are an officer of a corporation, you may want to consider one of the following options for your company’s charitable giving:
Corporate Giving Program
Many corporations operate an annual giving program to make
charitable grants, funded as part of their annual operating budgets. Business
owners can blend their family business with family philanthropy by channeling
their charitable support through their family corporation(s). A corporate giving
program has no independent endowment, and its budget is typically administered
by corporate staff and directed by the CEO or an advisory committee of
management staff members. A corporate giving program is not subject to the rules
and regulations governing private corporate foundations.
A company can create a
corporate foundation as an independent, tax-exempt private foundation. A
corporate foundation is usually started with a single gift that can become the
endowment, to which the company can add future contributions as it wishes. The
foundation's officers are usually the company’s owners and key executives,
although leaders from headquarters communities are sometimes included. At some
companies, employee committees make giving recommendations about projects they
believe are worthy of support. The corporate foundation is subject to the same
rules and regulations applicable to other private foundations.
Companies can create
their own donor advised funds at a community foundation of their choosing.
KEYS TO SUCCESSFUL CORPORATE GIVING
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