How Corporates Can Support Philanthropy
Trends in global corporate giving
Giving in Numbers 2019 Edition, by CEO-led coalition Chief Executives for Corporate Purpose, offers a global benchmark of corporate social investments. The report indicates that international giving in on the rise – it grew by 9% in 2018 – and six out of ten companies increased total giving in the past three years.
The Payroll Giving South Africa initiative is an ongoing national project placing charities in front of potential corporate sponsors and donors. It is represented through independent trust The Giving Organisation, of which Archbishop Desmond Tutu is patron, and is affiliated to Payroll Giving – an organised forum through which companies and their employees can support worthy causes. Payroll Giving is an easy, effective way for employees to give money to charity, with an agreed amount deducted from an employee’s salary or cellphone account.
Online crowdfunding philanthropy platform different.org, which is funded by Different Life, has introduced ‘Different Payroll Giving’, a programme allowing employees to donate a portion of their pre-tax salary to the charity project of their choice via different.org’s e-wallet.
Payroll Giving provides non-profit organisations with a sustainable income, making it easier for them to plan, budget, and meet their objectives. Companies will meet their CSI objectives more easily and employees will have a lower taxable income and will receive Section 18A certificates to get tax benefits. Companies can also claim for Socio-Economic Development points on their B-BBEE scorecards.