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Report Offers Recommendations to Boards of Directors for Ensuring Effectiveness of Corporate Giving Programs
Source: Digital Journal  ·  August 2, 2011  ·  Excerpt

Given the evolving expectations for corporate philanthropy, corporate giving programs must go beyond simply "doing good." In order to ensure the effectiveness of corporate philanthropy programs, executives should apply the same prudence to giving decisions that they do to other business activities, according to the Director Notes report released today by The Conference Board, the global business research and membership organization.

The report — entitled Making the Business Case for Corporate Philanthropy — provides practical recommendations to companies and boards for ensuring the legitimacy of their corporate giving programs. It also discusses the role of institutional investors and questions surrounding disclosure, and highlights examples of corporate giving successes and failures.

"The evidence shows that, done the right way, corporate contributions can indeed be good for both the company performance and society," says Baruch Lev, director of the Vincent C. Ross Institute of Accounting Research and the Philip Bardes Professor of Accounting and Finance at the NYU Stern School of Business, and co-author of the report for The Conference Board with Christine Petrovits of George Washington University and Suresh Radhakrishnan of the University of Texas at Dallas School of Management.

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Our take
The report described above illustrates the importance of having a partner in monitoring trends and best practices in corporate giving - one of the key services Compass Pointe provides. One thing that has become abundantly clear in our research - and the article reinforces this point - is that corporate giving should be closely integrated with regular business activities, rather than viewed as an add-on or afterthought.

Contact us now to help determine what reports like this might mean for your company:

  • How do we implement the report's findings at the Board of Directors level and ensure that we see tangible results elsewhere?
  • What can Compass Pointe do to stay on top of publications like this and alert me only to the most relevant research in the future?

 

 
 
       
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