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Generously eyeing the bottom line -- of charities
By John
Burke • Bankrate.com
Not only do most U.S. small-business owners actively
support charitable efforts, they also set high standards when it
comes to deciding just which causes and groups get their company
contributions.
Ninety-one percent of owners of companies with four
to 99 employees support local charities and groups. The Princeton
Survey Research Associates study, conducted on behalf of the Better
Business Bureau Wise Giving Alliance, also found that these smaller
corporate philanthropists prefer to give to charities based in the
local community and they lend their support in a variety of ways.
And, as good business people, they scrutinize the
use of donated funds and other accountability issues when determining
which charities to support.
"At a time when many charities at the local level
are struggling to raise funds and deliver critical services, it
is good news indeed to see the widespread support that small businesses
provide to local nonprofit organizations," says Art Taylor,
president and CEO of the Better Business Bureau Wise Giving Alliance.
"We tend to think of large corporations when
we talk about business giving, but this survey clearly shows that
small-business giving is in itself an important force in philanthropy
and one that should be recognized and encouraged."
Monetary gifts lead
Most small businesses prefer to give money. Eighty-five
percent of the 809 owners and managers who participated in the survey
donated cash to charities in 2000. Nearly two-thirds (63 percent)
gave in-kind contributions of products or services.
Other popular ways of supporting local charities include
participating in fundraising or promotional events, advertising,
youth-team sponsorship and charity auctions.
When it comes to determining which charity or group
to give to, small-business owners focus on the charity's finances
and how it distributes its funds. Eighty-three percent said how
a charity spends its money is very important, while 63 percent stated
that the clarity of fundraising program descriptions is important.
How does your company stack up on giving to charity
and supporting your community?
-- Posted: May 24, 2002
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