Corporate Giving Delivers Philanthropic and Strategic Impact
According to Giving USA, in 2024, charitable giving in the United States was $592.50 billion, with over 44 billion dollars coming from business and corporate giving. For enterprises and executives, a well-strategized corporate giving program can not only create significant philanthropic impact, it can help align brand identity, reinforce corporate values and deepen relationships with key stakeholders such as customers, partners and more.
Focused Giving is Critical to NonProfit Mission
For some nonprofit organizations, these kinds of gifts can make a big difference in their ability to carry out their mission. For EveryCat Health Foundation, a nonprofit that has been supporting groundbreaking feline health research and education since 1968, and other mission-focused nonprofits, educating enterprises and private donors on effective special interest giving plans is key to mission success.
Special interest giving and planned bequests from executive leadership – as well as private individuals, carries significant impact.
“About 75% of our annual income is from individual donors who are alive or have left us a bequest,” said Jackie Ott Jaakola, President and CEO of EveryCat Health Foundation “We literally could not carry out our mission of contributing to the health and well-being of cats around the world without the generous gifts from our donors.”
Any individual or enterprise has the ability to have a profound effect on a nonprofit organization through their special interest giving. However, Ott Jaakola says people who are thinking about leaving a gift to a group they support should keep some considerations in mind.
How to Create a Special Interest Interest Giving Plan for Charitable Donors? Three Key Steps
- 1. Getting professional help is critical. The importance of involving a financial planner and attorney in a special interest giving plan cannot be understated. These professionals advise their clients on the most effective ways to leave gifts to nonprofits so their money can make the most impact. They also keep abreast of changes in the law that can affect bequests in order to provide invaluable advice to their clients.
- 2. Forming relationships with organizations helps understand impact. As people or enterprises go through the planning process, it makes sense to form a relationship with the groups they want to remember in their wills and trusts. For enterprises, forming a relationship helps ensure that final giving decisions are fully aligned with company values, and ensure best use of donated funds.
For Individual Donors
“People can meet with the executive leadership of nonprofit organizations to let them know they want to name the group in their trust,” said Ott Jaakola. “Donors can talk about the details of their bequest and what it means to them. In addition, nonprofits will provide details about where their money will go and how it will benefit their cause. This can help people feel good about the legacy they’ll leave behind through their donations.”
- 3. Involving loved ones makes the process easier. For personal and executive giving, heirs should be made aware of their loved one’s plans so they don’t have to deal with surprises as they’re grieving. When people have tough conversations with their family members and friends about their wishes, they should also talk about their special interest giving desires.
“The more honest and open conversations people have with their loved ones, the better,” Ott Jaakola said. “Heirs can become part of the planning for special interest giving, so they understand how important the gift will be to the nonprofit—and to the donor. People may not realize that their family member’s passion for a certain cause can actually translate into boosting the effectiveness of an organization’s work.”
The Giving Goal
Ultimately, the goal, says Ott Jaakola, is for people and organizations to be proud of their gift and rest assured that they will be making a difference. With thoughtful planning and communication, this goal can be achieved for enterprises and impactful individuals alike.
