A turning point for corporate philanthropy
In the century since steel baron Andrew Carnegie launched the Carnegie Corporation of New York, corporations have been driving strategic philanthropy and social impact. Corporate Social Responsibility (CSR) has become expected from the modern American corporation: corporations have not only achieved social impact through their foundation counterparts, but also through giving billions of dollars of private funds in causes each year.
A new report from the Council on Foundations (COF), “Increasing Impact, Enhancing Value: A Practitioner’s Guide to Leading Corporate Philanthropy,” outlines steps to redefine corporate philanthropy in the U.S. building on a 2010 survey in which the majority of respondents stated that it was no longer enough for corporations to solely give money. COF’s guide outlines strategies for corporations to better integrate philanthropy into their business practices. This approach is meant to create sustainable “shared value” (a belief that the health of the company and the health of society are intertwined) through social investment (which considers both financial return and social good), identifying causes that align with the company’s mission, monitoring outcomes, and disseminating philanthropic results throughout the corporation.
“Increasing Impact” was developed at a critical point for corporate philanthropy. The corporate world needs to see philanthropy less as dollar donations and more as a symbiotic partnership where both communities and corporations benefit. The Center for Arab American Philanthropy houses business donor-advised funds to meet your company’s philanthropic goals. Contact us to learn more about business donor-advised funds and how your company can create shared value with the causes you wish to impact.
- Study: Corporate philanthropy is falling short (The Nonprofit Times)
- Sustained strategic giving (Philanthropy in AAction)
- Redefining the roles of corporate foundations and philanthropy (Re: Philanthropy)
America is a land of immigrants, many of whom have found success and prospered in the new world. As a result, many Americans have felt compelled to give back to their home communities in the form of diaspora philanthropy. Andrew Carnegie, the father of modern strategic philanthropy, was an early pioneer of giving back to his homeland. Carnegie sent millions back to his country of origin (Scotland), which greatly impacted many sectors, including education, science, and social justice. Besides the Carnegie Corporation, many well-respected foundations were begun by immigrants, including the Skoll Foundation and the Omidyar Network.
Although diaspora philanthropy is not new, the trend is experiencing an upsurge in attention. In addition, the players and motives are changing as both charities and governments find common ground on issues such as social justice and policy change abroad - and working together to find solutions for these issues. Advances in technology make it possible for developing countries to collaborate with their diasporas across borders.
Notably, the Irish and Turkish diaspora populations have helped raise the bar for sending remittances from all around the world. Organizations such as the International diaspora Engagement Alliance (IdEA) and Diaspora Matters exist to promote engagement among diaspora populations through philanthropy, entrepreneurship, policy, and innovation. In addition, CAAP staff helps Arab Americans support organizations in their home countries that hold 501©(3) status in the United States through donor-advised funds, expert advice, and technical support for transnational giving.
- Diaspora Philanthropy: Private giving and public policy
- Sustained strategic giving: the Carnegie Corporation of New York
- Ireland Funds’ Young Leaders Commit to Raising Over $1 Million for the “Promising Ireland” Campaign at Their First Global Summit in New York
Photo credit: Neal
Sustained Strategic Giving
The Carnegie Corporation of New York is currently celebrating a “Century of Philanthropy.” Read more about Andrew Carnegie, the man who inspired a century of strategic philanthropy, at the American Libraries Magazine or watch the Carnegie Corporation’s video on Vimeo.
Scottish immigrant Andrew Carnegie pioneered the ideas of strategic philanthropy and grantmaking as an investment for the long term growth of communities. Today, CAAP applies these same principles to empower the Arab American community. In addition, the Carnegie Corporation invests in immigrant rights and has been an important partner to our friends at the National Network for Arab American Communities (NNAAC) since 2004.
To learn more about how CAAP can assist with your planned giving, contact us.
Center for Arab American Philanthropy
2651 Saulino Ct.
Dearborn, MI 48120