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The Philanthropic Initiative Releases Corporate Philanthropy and Social Responsibility Research

Findings Released at Solomon McCown & Company Panel Focus on the Economy’s Impact and Communication Strategies for Challenging Times

The Philanthropic Initiative Releases Corporate Philanthropy and Social Responsibility Research

Findings Released at Solomon McCown & Company Panel Focus on the Economy’s Impact and Communication Strategies for Challenging Times

Published 06-24-09

Submitted by Solomon McCown & Company, Inc.

Boston, MA - June 24, 2009 - At a panel hosted by Boston-based communications firm Solomon McCown & Company (SM&), The Philanthropic Initiative (TPI) released findings from an ongoing CEO survey exploring the evolution of corporate philanthropy toward a "new normal." With corporate giving down nearly 8% in 2008, the report focuses on the economy's impact on best practices and provides insight from trailblazing CEOs about the future of corporate giving in an era of scarcity.

"Nearly every CEO interviewed talked about the importance of authenticity in corporate social responsibility and corporate giving and embedding philanthropy in the core of their corporate culture as part of its brand identity," says Ellen Remmer, president of the Boston-based TPI and author of the study. The research found outliers - some CEOs who believe these times demand a reduction of CSR and corporate giving and a few others who advocated for increased giving despite economic hardships. However most of the CEOs interviewed recommend new, creative approaches in response to these challenging times, including non-cash contributions of expertise and deep employee involvement. Robert Glassman, co-founder of Wainwright Bank, says "We've found we can increase our impact by getting behind political platforms and exercising our voice on issues that matter to us and our market - and that doesn't necessarily cost money."

"In this economic environment it is particularly important that CEOs be direct and transparent in their communications with stakeholders about changes in giving strategies," said panel host and Solomon McCown CEO Helene Solomon. "It is the only way to maintain trust in the brand."

"You don't need to take out big ads to talk about what you do," said corporate leader Ann Fudge. "Do great work with local nonprofits and make it visible at the community level - you can then save your advertising dollars to support those nonprofits."

Fudge, Former Chairwoman & CEO of Young & Rubicam Brands, and Robert Glassman, Chairman of Wainwright Bank and Trust Company, participated in the panel, along with Ellen Remmer. The discussion was moderated by Boston Globe Editorial Page Editor Renée Loth.

This event is the eleventh in the SM& Presents series of discussions among experts addressing topical issues in the news today as well as some of the most challenging aspects of branding for emerging businesses, established companies and mission-focused organizations.

Co-sponsors of the event included the Harvard Kennedy School of Government Center for Public Leadership, The Commonwealth Institute, Massachusetts Business Roundtable, Boston College Center for Corporate Citizenship, and the Rappaport Institute for Greater Boston.

The Philanthropic Initiative, Inc. (TPI) is a nonprofit social business with a mission to increase the impact of philanthropy in society. For twenty years TPI has been working across the globe to advance the field of strategic philanthropy and advise family, foundation and corporate donors in their giving.

Solomon McCown & Co. (SM&) provides strategic communications, public affairs and crisis management services to national and regional companies and to mission-focused organizations. We leverage all of our assets - experience, skill sets, networks, processes and energy - to help clients achieve the recognition, definition and protection they need to achieve their goals.

Solomon McCown & Company, Inc.

Solomon McCown & Company, Inc.

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