Advantages of charity for corporate companies

Philanthropy means initiation for the public good standard life. It slightly differs from charity as the charity aims to receive the suffering from the problem whereas philanthropy deals with the cause of the problem. Many companies offer charity for the cause. 

Many companies think of charity as an investment. Corporate donations to charity have a relationship with society. Charity gives a great investment for your business and makes you special from other businesses.

     Employees like working for a company that gives back. There is a survey that Charity increases employee productivity by 13%.

     Employee engagement is directly related to charity giving, employees become loyal, happy with these kinds of programs.

     Millennials choose philanthropy, The companies prime market is millennials and also the employees are millennials the companies usually hire. So to attract a particular age group this charity does wonder.

     A good reputation in the market. A positive reputation in the market is priceless. Charity gives you good standing in the local community. It boosts your business. The charity works as an investment.

     Increases the business as the charity shows a huge impact on the bottom line. It increases the sales of the company.

     It enhances the loyalty of the consumer.

     It enhances brand awareness.

     Consumers choose the brand with a cause.

     Charity giving helps to have a strong relationship with the consumers.

     Charitable giving is a great way in reducing the taxes of the companies.

     Networking of a company is done easily with this kind of charitable business.

Tax benefits of giving charity:

     A charity to an organization may entitle you to a charitable contribution deduction in your income tax if the company itemizes the deduction.

     A contribution is dedicated to the year in which it is paid.

     Most charitable organizations qualify for charitable contribution deductions. But some are not qualified for it.

     There are some limits for the deductions but are usually high. If the contribution is made to a public charity, the deduction is limited to 60% of your contribution base.

     If you give a property for charity use for a year then the value of the deduction is equal to the value of the property market value.

     Proper documentation is necessary for claiming the reductions.

     Be careful especially when valuing a donated vehicle.

Remember one thing it's always better to give than receive. The glory of charity is that we give and receive at the same time. Many companies offer charity in many ways. 

There is a mutual benefit for the company as well as the charitable trusts. The companies offer a percentage of income for charities which helps them get a good reputation in society. Thus charity helps the companies in so many ways.

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