Corporate givers are faced with special challenges — not only is the funding that they provide needed more than ever before, but they are also faced with the need to demonstrate to their boards how their actions are cost effective, and how giving decisions align with corporate needs and mission. But how does one measure impact when the results of giving are sometimes more qualitative than quantitative?
A new report recently released by the Committee Encouraging Corporate Philanthropy (CECP), entitled Measuring the Value of Corporate Philanthropy, strives to provide information for corporate givers who are trying to answer this question. The report contains an analysis of various measurement studies, models currently deployed in the field, and evidence gleaned from complementary business disciplines and the from the social sector as well.
Using a list of frequently asked questions that senior corporate management and giving professionals are often presented with, the report contains information for three “conversations”:
- The conversation between a grant recipient and the funder’s Chief Giving Officer (CGO), regarding assessing the grantees’ success at achieving results.
- The conversation between the CGO and CEO when the CEO requests a “business case” to demonstrate how the philanthropic initiative is valuable to the business.
- The conversation between the CEO and the investors, who want assurance that spending on philanthropy enhances (or at least does not diminish) shareholder return, or who want to ensure that the corporation is doing enough to perform as a socially responsible company.
The full report, an executive summary and a giving officer summary can all be downloaded from the CECP website for free.
