Many small and medium-sized businesses drive the corporate-community codependency.
Causes, charities, and nonprofits depend on the philanthropic gifts that come to them via the business community. This dependency is not only monetary. Businesses, especially local community-based ones, are equally dependent on the support of residents and citizens.
From the business side, it is a do good to make good dynamic, meaning that efforts of a company to assist a charity will be met with an elevated mindset of the supporters and possibly be reciprocated. Good for business, good for the community.
From the charity side, the input of the business community is essential – again, not only for monetary support. It is businesses that supply raffle prizes, show up for events and outings, lend volunteers, and, yes, buy sponsorships. Many of the cause-related efforts would be far less successful without that.
Business executives often lend their expertise to charities by advising, mentoring, and by taking board positions. The ranks of many grassroots nonprofits are thin when it comes to business acumen and the benefit greatly by the guidance of experts. Such topics as marketing, fundraising, logistics, donor retention, and long-term planning are in the wheelhouse of business management.
Long Island businesses are very active in food, clothing and blood drives, car shows, and even distribution of much-needed items to the needy. Although our area is not atypical, it is very strong.
Nonprofits are well advised to foster relationships with business owners and executives, for they are the conduit to much-needed assistance. Owners should make themselves available as much as possible.
The codependency is beneficial in the overall wellness of our area.
Many donor-advised funds (DAFs) have been established by corporations and business owners. Grants to qualified nonprofits are made regularly. Such forward-thinking methods of giving can be tapped for the money that is needed – another reason for the business-charity relationship.
The fostering of the corporate-nonprofit dynamic is essential.
Greg Demetriou is the CEO of Lorraine Gregory Communications.
