Philanthropic responsibility is the pillar of corporate social responsibility that challenges how a company acts and how it contributes to society. In its simplest form, philanthropic responsibility refers to how a company spends its resources to make the world a better place. This includes:

  • Whether a company donates profit to charities or causes it believes in.
  • Whether a company enters into transactions only with suppliers or vendors that align with the company philanthropically.
  • Whether a company supports employee philanthropic endeavors through time off or matching contributions.
  • Whether a company sponsors fundraising events or has a presence in the community.

Similar Posts

Understanding Philanthropy

Bysaif Gill

Philanthropy refers to charitable acts or other good works like volunteering your time or efforts that help others or contribute to the well-being of society overall. For some people, philanthropy means donations of money, often large sums, to support or create university buildings, research centers, or fund four-year college scholarships. For others, acts of philanthropy mean…

What is corporate philanthropy?

Bysaif Gill

Corporate philanthropy refers to the activities that companies voluntarily initiate to manage their impact on society. Typically, corporate philanthropic activities include monetary investments, donations of products or services, in-kind donations, employee volunteer programs and other business arrangements which aim to support a social cause. While some companies spearhead and operate corporate philanthropy programs themselves, others…