I assumed this was true also, but I also believe the company is receiving some sort of kick back from this otherwise they wouldn’t be doing it.
Also the political/social influence is real. Why bribe the government when you can outsource it to you and say it’s for a good cause. But the reality of the situation is they are giving a politician what they want and if the politician do something they don’t like they can move that “donation” to someone else.
The non-profit can hire the company executive and pay them, which if I understand correctly is exempt from income tax.
I think this can be a way for executives to avoid income tax: basically donate to a foundation through obscured means (crypto, purchase from third party, etc), then get non-profit money with exemption. They probably need to jump through many hoops and it is very likely still illegal, but I wouldn’t be surprised if this is common.
But anyway the couple dime people are donating probably is neglegible for tax purposes (I am guessing, I don’t have data). Yet I see no reason not to just donate to a charity you trust online…
Source about income tax: https://www.investopedia.com/ask/answers/08/nonprofit-tax.asp
It’s true but it’s not the full story .
Who gets to go the charity dinner and presents the check to the orphanage?
Who gets in Time magazine for “taking a stand” for corporate responsibility?
A corporation is not capable of benevolence. Give directly to the charity yourself, you’ll get a sticker and sometime a free pen.
Give directly to the charity yourself, you’ll get a sticker and sometime a free pen.
Lol. I can confirm, it’s true!
Joking aside, some of my most cherished possessions are hand-written thank-you notes from worthwhile causes that I support.
(Especially ones from children! “Donors Choose” is great when I need some crayon drawn notes in exchange for buying some school supplies.)
(And given the context, I should clarify, from my own money, not someone else’s.)
It’s a marketing thing. Stuff like this creates the illusion that they’re good corporate citizens.
Of course, they could donate a fraction of a fraction of a fraction of a percent of their own profits and make a much bigger impact, but that would set a bad precedent! Giving away your money is only for the working class!
The kickback is also in saying that they donated the money to charity … which was collected from other people
It’s like I asked you to donate money to a charity and I said I had to be the one to collect it … then I take your money and donate it in my name … basically, I took your generosity and claimed it as my own.
In many cases company’s also understand that they can’t openly do this because it would be too obvious … instead they just ride the generosity gravy train … they encourage people to donate to charities through their store/company/business … then the company may or may not give their own contributions but they get to attach their name to the donated amounts.
It’s like a billionaire selling you a can a beans and then asking you to donate a penny to a charity … I always say no because the idiot billionaire could spare 1% of their wealth and give millions of dollars to charities everywhere, why the hell are you asking me?
I never give to charities through a store/company or business … I give directly to charities on my own.
And decision-makers at that company feeling good about themselves at no cost whatsoever for the company or themselves.
