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Corporate giving can restore trust, report says

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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.

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