Any economy is only a strong as it’s community. Our businesses are committed to ensuring Colorado’s nonprofit sector is strong, too.
That’s why we joined with B:CIVIC, DaVita, TIAA and the University of Denver last year to actually start measuring that commitment and show how business is impacting our state through giving. And, the results are in from the inaugural “Good Business: State of Corporate Philanthropy in Colorado” report. Here’s what we found:
Size doesn’t always matter. In fact, large and small organizations approach philanthropic giving in similar ways, most commonly giving through cash donations, in-kind donations and supporting fundraising events. One distinction in size is that smaller companies don’t spend as much time planning their giving with only 41 percent of small businesses (those with 10 to 49 employees) reporting they have a plan at the beginning the year compared to 76 percent of large companies (those with 50 employees or more) who develop such a plan.
We keep it local. Among responding businesses, 85 percent of cash donations stayed in Colorado!
Strategies are changing. While giving money is the largest investment still being made by businesses, more and more companies are placing greater emphasis on active engagement, such as encouraging nonprofit board service and volunteering.
Time and money are a challenge. Sixty-nine percent of companies stated that budget limitations have been a barrier to giving more, followed by 39 percent citing staff capacity limiting participation. That said, it was encouraging to find that 50 percent of companies provide flexible work schedules to allow employees to volunteer and serve on boards.
After reading this, we’re hoping you want to get even more engaged in your community. Here’s how you can:
Get up to speed. No matter where you are in your career, there’s more to learn not just about your community but also how you can play a role in leading it. Our Denver Metro Chamber Leadership Foundation has built strong leaders for nearly 45 years. You can explore their programs to see how they can help you engage in the community using the values of Colorado’s Civic DNA™.
Connect with others. We know we can accomplish more when we work together. That’s why we were a founding member of B:CIVIC, which works to harness that power in corporate social responsibility, connecting businesses who are passionate about their community.
Engage your team. We know more and more employees want to work for a company where they can make an impact, and giving back in the community is a great way to keep your team engaged and inspired. When your team plays a role in deciding on the organizations you support or the volunteering opportunities you provide, they’ll make your giving plan sustainable – and will bring new ideas to the table. You can check out Metro Volunteers for volunteering opportunities.
We are so proud to represent companies who care so deeply – thank you all for making Colorado stronger!
Kelly Brough is the president and CEO of the Denver Metro Chamber.