As needs escalate and profits sag, corporations are looking for ways to bolster their local communities and, in turn, their own financial well-being.
To be more effective in the dismal economic climate, corporations must take active steps to restore public trust through philanthropy, says a report by the Committee Encouraging Corporate Philanthropy.
The report says corporations should:
* Align philanthropic efforts with their overall business strategies and goals.
* Collaborate with a variety of companies and organizations to develop new ideas.
* Ensure funds are invested wisely by adhering to high performance standards.
* Find new and creative ways to give, including product donation, volunteerism and pro-bono services.
The Committee Encouraging Corporate Philanthropy is a forum of business leaders that aims to raise the level and quality of corporate giving.