‘Dry July’ – the original idea that got us all into charity.

Dry July, the popular fundraising initiative, has gained significant traction over recent years, encouraging us to ‘go alcohol-free’ for the month of July while raising funds for people affected by cancer.??

We all do our bit to give back to society, but this initiative is also a reminder for Australian companies to reflect on their position regarding charitable causes and whether to strengthen their presence in the philanthropy sector.??

Australians individually donate $13 billion to charities annually.??

The demand for establishing more meaningful connections and relationships within corporate and social communities has never been stronger. Corporate Australia continued record levels of giving to community causes at the end of 2022, with the latest GivingLarge report revealing billions of dollars in donations. According to the report more than $1.22 billion was donated from the top 50 corporate givers, representing an increase of $50 million on the previous year’s figure and continuing the trajectory of growth set in 2020 and 2021.??

The funding has flowed to causes like social and public welfare, public safety, and the environment.?

Companies are now working proactively with charities in a constructive way to not only bring clients and colleagues closer but also emphasise deeper key messages and values within their business, elevating their branding to another level.??

There are multiple reasons why a philanthropic state of mind can create a meaningful impact for a company's branding and relationship with the community. These include:?

• Increased brand awareness?
• Attracting and retaining new talent?
• Developing trust with all stakeholders?
• Boosting employee morale?
• Compliance and regulatory benefits (ESG)??

Brand awareness: An active program of charitable activities demonstrates a commitment to social responsibility and community involvement, leading to a more positive corporate image. These activities create multiple PR and marketing opportunities to promote wellbeing messages. Ultimately, this can be a key differentiation aspect compared with competitors, inspiring trust from clients and employees.?

Attracting new talent: The financial sector often grapples with the imagery that it’s dull and sterile. Prospective employees, especially millennials and Gen Z, are increasingly seeking purpose-driven workplaces that go beyond just financial success. When a firm actively engages in philanthropic initiatives, it not only brings a humane element within the finance community but also showcases its commitment to making a positive impact on society. This resonates with socially conscious candidates who prioritise meaningful work and want to be part of an organisation that aligns with their values.??

Such philanthropic involvement signals a company's dedication to corporate social responsibility, fostering a sense of pride, purpose and trust among employees. As a result, the firm becomes an attractive employer, drawing skilled talent eager to contribute to both the company's success and its key beliefs.?

Developing trust: Philanthropy provides firms with an opportunity to connect with their stakeholders on a more emotional level. When customers, employees and investors see a company actively contributing to social causes, it fosters a sense of loyalty and pride in being associated with the brand.??

Boosting morale: Involving employees in philanthropic initiatives can boost their morale and overall job satisfaction. Participation in volunteering activities or fundraising events can create a sense of purpose and fulfilment among employees, leading to higher levels of engagement and productivity.?

Compliance and regulatory benefits: Many jurisdictions offer tax incentives and regulatory benefits to companies that engage in philanthropic activities. By integrating philanthropy into their calendars, financial companies may be eligible for tax deductions or other financial incentives, providing additional financial advantages against competitors.??

Popular channels available to companies to engage with charitable causes include:?

1. Community grants which provide financial support to local organisations and initiatives.??
2. Corporate sponsorships where companies partner with nonprofit organisations for mutually beneficial projects.??
3. Volunteer grants which reward employees for their volunteer efforts with donations to their chosen charities.??
4. Employee grant stipends that enable staff members to allocate funds to causes they are passionate about.?
5. Matching gifts where companies match their employees' charitable donations.??
6. And volunteer support initiatives, encouraging employees to actively participate in volunteer activities.?

Case Study: Wattle Partners Gifting Program.?

Wattle Partners, an independent financial planning firm, does more than just provide financial and investment advice – it advocates increased financial literacy and improvement of investment education standards in Australia.??

With these objectives in mind, Wattle Partners participates in a charity donation plan called the Greenlight Foundation Gifting Program, which allocates donations to charities associated with children, education and housing. These three sectors collectively support the key brand values that Wattle endorses and continues to incorporate within its brand.??

So if you are not sure where to begin, contact us at Capital Outcomes.??

We can help map out the philanthropic strategy for your company and brand.??

Contact:?

Simrita Virk??

E: [email protected]?

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