Ignite Change Through Your Business

If you’re a business owner, chances are you’ve already made a positive impact on our Lorain County community. Like many philanthropic individuals, your business may contribute through event sponsorships, in-kind donations, and financial support for cherished organizations.

In 2022, corporate giving grew by 3.4%, totaling $29.48B. This growth is reflected in our Connect to a Cause Business Champion participation.  For 2023, our Business Champion support increased by more than 36%.  Adding to what currently totals more than $116K in bonus dollars for our non-profit Connect to a Cause participants. This impact extends beyond the various individual non-profit bonuses received, but with ALL our Connect to a Cause participants received over 17 % added to the funds they raised.  This means that for every $1,000 raised during Connect to a Cause, their organizations received an extra $177!

A recent Forbes article pointed out that 66% of small businesses donated to local charities in 2022, and entrepreneurs volunteered more time and made higher donations than non-entrepreneurs. This does not have to involve a significant investment from the company or the entrepreneur. In fact, a recent movement called Pledge 1% encourages companies of all sizes and stages to donate 1% of their staff time, product, profit, and/or equity to ANY charity they choose.

Empowering your corporate philanthropy 1% (or more) program could include any of the following:

  • Corporate profit- Companies with giving programs have a 2.3 times higher employee retention rate. Establishing a corporate donor-advised fund helps you organize your company’s giving without the extra work required to create a corporate foundation.
  • Corporate equity- Pledging 1% of equity is one of the easiest pledge types to execute as an early-stage company. It sends a message to your employees, customers and partners that you are a company that cares about giving back from inception.
  • Staff Time- Just 20 minutes of a 40-hour week is 1%! Company-sponsored volunteering, such as hands-on giving projects or skills-based volunteering, benefits employees by improving leadership abilities, morale and camaraderie.
  • Product- You can donate your product in full, revamp it for specific nonprofit use or provide a discount for non-profits to purchase your product. Your hard costs may help you determine which model (donation v. discount) is best for your business. The Community Foundation of Lorain County is eager to amplify your business’s impact and deepen your bonds with your community, customers, and employees by creating a philanthropy plan that supports causes that align with the wide range of your objectives.

If you want to simplify it, become a 2024 Business Champion on September 19th and have those dollars support more than 90 local non-profits. If you already have a giving program or match your employees’ donations, we’d be happy to chat about leveraging their giving (and your match) through Connect to a Cause.

Excited to make a difference? Feel free to connect with Laura Malone, Development Officer. Remember, it is always a good idea to consult with a financial advisor or tax professional to understand how to ensure you are maximizing the benefits of your charitable giving.