Let’s talk a little bit about corporate giving. After all, it’s probably (in some way) already a part of the way either you as an individual or your company spends money. But if you’re looking to be a better philanthropist, there are a few important factors to consider. And now’s a great time to start thinking about that. 

At the start of every new year, most businesses are thinking a lot about how they’re spending their money. They’re reflecting back on last year’s budget and figuring out how they’re going to budget for the year ahead. This is especially true if you’re getting ready to file taxes, and maybe you’re realizing that you didn’t do any (or as much) annual giving on behalf of your business as you would like.

If you’re interested in the idea of corporate giving, we recommend checking out a recent webinar we did, Modern Corporate Giving Strategies, led by Brittany Saadiq, Director of Development with the Russell Innovation Center for Entrepreneurs. But we’ve got a brief rundown to share with you right now.

To start, consider the fact that corporate giving makes up about 4% of all charitable donations made globally. That’s not as much as the 67% of all giving that’s done personally by individuals, but it still accounts for about $21.08 billion, according to a report put out by Giving USA in 2022. And those numbers are going up. In the past two years, more and more businesses are making a conscious effort to be better about giving.

Types of Corporate Giving

Event Sponsorship

A donation from a business or brand can take many different forms. One common type of corporate giving is that of an event sponsorship, where a business provides money for an event—such as a festival, parade, fundraiser, or competition—in return for having their business name and logo included on the list of sponsors.

In-Kind Sponsorship

Another common form of business giving is in-kind contributions, when a business will provide its product or service free of charge to a good cause. For e