3 Ways to Win with Charitable Giving

'Tis the season for taxes, tax planning and contemplating new strategies to reduce your tax burden in 2017.  No doubt, you’re aware that certain charitable contributions qualify for a tax deduction.  But, have you thought about other ways your business can “win” with charitable giving? Taxes aside… Three more ways to “win”! 

Consider ways your business can get the most out of charitable giving: 

1. Choose a Relevant Cause:

Choosing a cause that “fits” your company and is in the geographic area where you do business can help build a more memorable and positive brand reputation.  For example, a local construction company might want to choose their local Habitat for Humanity.  Similarly, a regional pet food store might want to choose the animal shelters near each of their stores.

2. Involve Your Customers: 

Customers (and prospects!) can feel good about supporting your business when they know you’re supporting causes that matter to them.  Get the word out through your website, social media or print materials.  Get them involved as volunteers, invite them to events you sponsor or encourage them to contribute to the cause in another way.

3. Connect with Other Leaders: 

In the world of business, the adage “it’s not what you know but who you know” often rings true.  Look at the board of any charitable organization and you’ll often see an impressive lineup of people who are active and influential in their community.  It makes sense that connections made or strengthened through support of community charitable organizations just might open new doors for you and your company.

When companies support communities, its “win-win”! 

If you have questions about larger-scale or longer-term charitable giving options including charitable trusts or endowment funds, please refer to our Wealth Management Team.

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