Fourth in a five-part series on Small Business’ Commitment to Corporate Social Responsibility
At Davis & Hodgdon Advisory Group they integrate economic, social and environmental imperatives into their activities. This practice of Corporate Social Responsibility (CSR) is part of the firm’s fabric. A multi-year development of a CSR policy has enabled the firm to practice what it preaches and facilitate the same for interested parties. The entrepreneurial spirit of this CPA firm is evidenced by its actions locally and statewide.
Part one of our series on corporate social responsibility (CSR) outlined the importance of a formal yet “reasonable” CSR policy for businesses of ALL sizes; not just corporate giants.
Read Part One: The Triple Bottom Line for Small Business.
Part two focused on promoting the ‘people’ in “People, Planet, Profit” through a cohesive employee volunteer program.
Read Part Two: Promoting the ‘People’ in “People, Planet, Profit” – Employee Volunteer Program.
Part three continued to focus on the “Community Works” section of the policy and the belief that a business’ relationship with the community is the solid foundation of its success – specifically concentrating on the “Charitable Giving” component of our Community Works efforts.
Read Part Three: The Three Ps of Charitable Giving for CSR Success.
While part four remains dedicated to the “Charitable Giving” component, the focus shifts to Event Sponsorship.
Charitable Giving is made up of four categories:
- Event sponsorship
- Firm-initiated donations
- Employee match
Davis & Hodgdon supports causes we care about by sponsoring programs and events right here where we live, work, and play. Sponsorship is an excellent opportunity to market your business while giving back and helping organizations, which support your charitable giving “cause areas.” For our firm, we’ve identified our causes: financial literacy, entrepreneurship, and Vermont’s green economy.
Opportunities for sponsorship are evaluated based on:
- Alignment with our cause areas.
- Opportunity to create long-term value.
- Ability to reach target market and build relationships.
- Potential for long-term, sustainable partnership or relationship with the nonprofit.
- Opportunities to align with leading edge organizations, which share our priorities for giving.
- Track record of success and reputation of the host organization and their event.
- Positive exposure for our company on the web, in traditional media, and during the event.
- Opportunities for category exclusivity and exposure compared to other sponsors.
We seek two to five sponsorship opportunities annually with preference for those that might result in multi-year commitments. These help strengthen a relationship with an organization, which in turn helps make the deepest impact.
A large slice of the Event Sponsorship budget is allocated to the firm’s “Signature Partner” – a proactively selected local nonprofit organization that aligns well with the firm’s mission.
Part five, and the final in our series, will describe in detail the role of the “Signature Partnership” in the CSR policy.