Screening of Donors (Know Your Donors)
As with customers, your donor relations and endowments, should also align with your brand values. It can be irrevocably detrimental to partner with donors who do not share your values. Therefore, it is vital for the growth of your business, to remain informed when partnering with donors
Bolster your philanthropy with good intel and due diligence reporting
Robust and comprehensive business intelligence reporting and advanced technology will aid your business in conducting philanthropic partnership selection with confidence and pride.
Billions in charitable donations are doled out annually to organizations and in partnership with business entities. Social impact and community development are more integral to business growth than ever. Consumers care what companies are willing to do to foster growth in their communities and that includes what causes they are willing to back. Typically driven by a mission to help, it’s a sad fact that some companies also use philanthropic entities as a cover for corrupt business practices. So, it is also true that donations are disseminated in an effort to corrupt, used for corrupt influence, or as a bribe and when uncovered, can brutally take down even the most unknowing partner of that charitable organization.
Also, it is worth noting that government regulating bodies have tightened controls around how philanthropy is conducted among business entities Violation of regulatory rules can lead to irreparable harm to business profitability, an irrevocable loss of reputation, legal exposure and/or a loss of tax-exempt status.
Don’t use the excuse of ignorance because it can ruin your charitable efforts and your business.
The Provident Group provides solutions so your organization can understand your recipient or donor and ensure all benefits exchanged meet corporate rules, applicable laws, and public perception. Our featured solutions include: