The Council on Foundations released a new publication today that examines the role philanthropy plays at the intersection of business and society. Increasing Impact, Enhancing Value: A Practitioner’s Guide to Leading Corporate Philanthropy (the guide) will be presented to a group of 60 corporate philanthropic leaders as part of the Council on Foundations Annual Conference, April 29-May 1 in Los Angeles. The project signals a call to action for the field and invites corporate philanthropy to take an investment portfolio approach to giving in order to help the business have a greater positive impact on society.
The guide is the product of a year-long field research project to identify the state of corporate philanthropy and establish the opportunities for greater impact in grantmaking for both societal change and business benefits. Led by the Aspen Institute’s Chris Pinney and sponsored by ArcelorMittal, the Amgen Foundation, The Dow Chemical Company, the Eli Lilly and Company Foundation, the General Mills Foundation, IBM, the ING Foundation, the Intel Foundation, Kaiser Permanente, the Medtronic Foundation, and the Pfizer Foundation, the guide represents the most compelling picture of the state of and opportunities for corporate philanthropy available today.
“Increasing Impact, Enhancing Value: A Practitioner’s Guide to Leading Corporate Philanthropysprung from the growing imperative that corporate philanthropy address both business impact and societal demand,” said Jeff Clarke, the Council’s interim president and CEO. “Created for the field, from the field, the guide is both visionary and tangible.”
The guide’s five-point framework offers an opportunity to redefine the role of corporate philanthropy by issuing a call to:
- Create a new narrative for corporate philanthropy as an investment in society.
- Develop an inclusive “operating system” for philanthropic investment.
- Professionalize the field.
- Improve collaboration, communication, and knowledge sharing.
- Mobilize field leadership behind the agenda.
“Business’ role is changing and society has an increased expectation for corporate responsibility and leadership in addressing social problems,” said Chris Pinney, senior fellow, Aspen Institute. “The guide sets out a practical, effective framework for businesses to manage corporate philanthropy as a social investment aligned with the business and focused on value creation. We hope this agenda will help practitioners understand and embrace this approach to ensure the vitality and success of corporate philanthropy.”
The guide is available now at www.cof.org/corporateguide.