TREND LINES: Think about a giving program for your business

It's that time of year. In between holiday parties and year-end closures, it's time to think about next year and taxes around the corner. For a small business owner, this also means it's time reassess your approach to charitable giving.

Not only is corporate philanthropy socially responsible, it's good for business. A sound charitable giving program can build a positive reputation for your business, can reinforce relationships with your customers and can foster closer ties with community leaders and government officials.

Company philanthropy is also good for the community. Healthy and vibrant communities have strong support for charitable and educational organizations. Financial support as well as volunteer support from local businesses contributes to a high quality of life in the community. This, in turn, benefits the business greatly.

A sound philanthropy program serves to build positive relationships with employees and, in turn, builds company morale. Contributing to and supporting organizations that are important to employees helps to build pride in the company and promote a positive work environment.

The key to a successful program is in the focus and in the planning. Here are some tips to help you think about your company's approach to philanthropy.

Develop a formal policy and guidelines for your charitable giving. Without a focus to your program, you're a "sitting duck" for every request that comes your way. Be strategic. Ask yourself what's important to you, to your employees and to your community. One major corporation I worked for had a policy of supporting efforts in three defined areas -- local education, arts in the community and community organizations where any employee was actively involved. The key here is to set boundaries so you know clearly which requests to honor and which to refuse.

Maximize in-kind gifts and pro bono services. Consider which products or goods you have that might be used by appropriate education or non-profit organizations, such as obsolete inventory, returned goods, office furniture or old computers. Each of these might be important gifts to the right nonprofit. Also, consider services your employees might provide. Legal services, printing, consulting services, etc., are all needed in the non-profit community.

Support employee giving and make volunteering easy. Consider a program to match employee contributions to appropriate community organizations. Provide "release time" for employees to volunteer during working hours with approved community groups. Take a lesson from the Disney VoluntEars program. Organize company volunteer events such as a Habitat day or a can-a-thon. Work with local organizations to supply volunteer help for major fundraising events.

Corporate philanthropy is an important part of any community. Establishing a strategic policy and guidelines for your organization assures your company's charitable dollars and your employees' volunteer time are well spent.

An experienced business executive and organizational consultant, Jan Flynn teaches at the J. Whitney Bunting College of Business at Georgia College & State University.

This story was originally published December 22, 2015 at 9:11 PM with the headline "TREND LINES: Think about a giving program for your business ."