Home Archives November 2008 Philanthropy: How to still do good when times are bad

Philanthropy: How to still do good when times are bad

| Print |  Email
Saturday, November 01, 2008

THE ECONOMY IS IN shambles, the end of the year’s approaching and you’re just now thinking about having your business make some sweeping philanthropic gesture.

Is that a wise move to make?

“By all means do it,” says Laura Winter, vice president for advised funds with the Oregon Community Fund, a nonprofit that administers some 1,400 charitable funds across the state. “There are a lot of resources in our state and a lot of foundations doing great work here.”

Many larger companies budget for charitable contributions on an annual or quarterly basis, so their resources have already been allotted for the year. But for businesses that still want to make contributions in 2008, it’s not too late — and it’ll be worth it.

For starters, contributions of cash, merchandise, property or other assets may be deducted on a business’s income tax return. In order to enjoy the tax benefits, however, donations must be made to legitimate public charities. A list of registered charities in Oregon is available at the Oregon Department of Justice’s web site: doj.state.or.us.

“And [OCF] would certainly be able to help any business in a community connect with an organization that is providing important services,” Winter says. The foundation is online at ocf1.org.

During this economic slump, companies may also get creative in their giving by, say, supporting employees who volunteer for an organization or by matching employee contributions to a nonprofit. Winter also says that financial hard times will be hitting organizations such as food banks and homeless shelters hard, so those areas are likely to need more help in the coming months.

Beyond the financial benefits, businesses may also find that charitable giving goes a long way in earning respect in a community.

“Certainly it provides a very positive community profile for the business,” Winter says. “We all enjoy good corporate and business partners.”

And finally, Winter says, there’s no doubt the current fiscal woes are bound to have businesses tightening their charitable belts in the coming year. Companies that have made contributions in the past would be wise to meet with their charity partners to lay out what kind of support might be available in 2009.

“The giving pool is going to be less in 2009 because of what’s happening in the economy in 2008,” she says. “Start talking to your nonprofit partners now just to let them know if there is potential that you might be giving less until this turns around.”

JON BELL


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

Gone Fishing

October 2014
Thursday, September 25, 2014
BY LORI TOBIAS

Business has been good to Laura Anderson, leading some to suggest she must be awfully lucky to find such success in a business notorious for failure. But luck’s had little to do with it.


Read more...

The Rail Baron

October 2014
Thursday, September 25, 2014
BY LINDA BAKER

Oil is gushing out of the U.S. and Canada, and much of it is coming from places that don’t have pipeline infrastructure. So it’s being shipped by rail.


Read more...

Video: The 100 Best Survey

News
Thursday, August 28, 2014

100-best-logo-2015 500pxw-1OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.


Read more...

Constant Contact

October 2014
Thursday, September 25, 2014
BY AMY MILSHTEIN

To prevent burnout, companies are banning email and after-hours communications. But is the 24-hour workday here to stay?


Read more...

Private liberal arts education: superior outcomes, competitive price

Contributed Blogs
Tuesday, August 26, 2014
0826 thumb collegemoneyBY DEBRA RINGOLD | OP-ED CONTRIBUTOR

Why has six years become an acceptable investment in public undergraduate education that over-promises and underperforms?


Read more...

Measure 91: What Oregon Businesses Need to Know

Contributed Blogs
Wednesday, October 15, 2014
91 thumbBY DIANE BUISMAN

Some common misconceptions employers have about marijuana.


Read more...

What I'm Reading

October 2014
Thursday, September 25, 2014

Nick Herinckx, CEO of Obility, and Jake Weatherly, CEO of SheerID, share what they've been reading.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS