Could a corporate foundation be right for your company?
Do you want a simple way to focus your corporate social
responsibility activity and unite your charitable giving? Did
you know that setting up a corporate foundation could help you to
achieve this?
It’s not as scary as you might think, according to
Brewin Dolphin - one of our clients who made
this leap with great success.
To commemorate the company’s 250th anniversary in 2012, Brewin
Dolphin wanted to do something which engaged its employees and made
a real difference to the community. The easy option would have been
a one-off event - or even a year long charity partnership - but
Brewin Dolphin opted to make a long-term commitment and create a
corporate foundation.
With 2,000 employees in offices across the UK, there was already
plenty of charitable activity going on; but with the foundation,
Brewin Dolphin was able to centralise this activity and make the
management and reporting easier.
Working with our Advisory team, Brewin Dolphin created a
framework and strategy for the foundation which included:
- to raise more money for charity
- to engage all staff
- to demonstrate the values of Brewin Dolphin at a more local
level
- to increase charitable activity which has a social benefit
- to ensure an enduring legacy
- to enhance business reputation
To avoid the expense and delays often associated with setting up
a standalone charity, Brewin Dolphin opted to use a CAF Company Account to
manage the foundation. This is a simple, low-risk option which has
allowed Brewin Dolphin to test the waters of a corporate
foundation.
To ensure they fully engage their staff with the foundation, a
network of charity ambassadors has been created. These individuals
help promote the foundation, encourage involvement and use their
local knowledge to allocate grants as a result of employee
nominations. Brewin Dolphin also integrated its foundation with its
CAF Give As You
Earn scheme, meaning that in addition to corporate money the
foundation funds itself with employee donations.
Although it’s too soon to identify the full impact the Brewin
Dolphin foundation has had, since the foundation launched there’s
been a 50% increase in the number of employees
donating through CAF Give As You Earn.