Corporate philanthropy or corporate giving is the act of corporations donating some of their profits, or their resources, to charitable causes.
Corporate giving is often handled by the corporation directly, or it may be done through a company foundation. Corporate marketing departments often handle cause-related programs in partnership with charities.
Corporations most commonly donate cash, but they also donate the use of their facilities, property, services, or advertising support (sometimes called in-kind gifts). They may also set up employee volunteer groups that then donate their time. Some companies give volunteer grants to charities.
Corporations give to all kinds of nonprofit groups, from education and the arts to human services and the environment.
Also Known As: Corporate Giving
Examples: IBM gives millions of dollars each year to nonprofits through its corporate philanthropy program.