Launch timely as NVPC Corporate Giving Survey shows giving needs improvement in Singapore
Singapore, 27 February 2013 – In building a vibrant corporate giving culture, the National Volunteer & Philanthropy Centre (NVPC) has created the Corporate Giving Marketplace to engage corporates and help them give better to charitable causes. This includes the establishment of the sector-led Corporate Giving Council (CGC) that encourages and guides businesses in their community outreach efforts.
2 As the current level of interest in corporate giving increases, NVPC believes that the formation of the CGC as an industry initiative will enable greater peer-to-peer assistance. Said Tay Kok Chin, Chair of the Corporate Giving Council, “The role of the Corporate Giving Council is to bring together corporates that are at the forefront of giving. These passionate and skilled corporate volunteers have some inspirational stories to share based on their own experiences. We are also closely examining the results of the Corporate Giving Survey and will add to our programmes and initiatives to respond to the common giving challenges businesses face in Singapore.”
The Corporate Giving Marketplace is a collaboration between NVPC and other corporates, service providers and social enterprises. It aims to help and engage businesses in Singapore to give better to charitable causes and build up a vibrant corporate giving culture. As part of the launch, NVPC will also hold its biggest networking event, “The Art & Science of Corporate Giving” today. The event will be attended by close to 100 organisations, comprising some major corporates and leading CSR practitioners in the sector.
Corporate Giving needs improvement
This initiative is timely as NVPC releases Corporate Giving Survey 2012. The survey showed that 62% of givers contributed less than 0.5% of pre-tax profits in 2011. Although not strictly comparable, this is low compared to FORTUNE 500 companies’ median of 0.95% of pre-tax profits.
Said Laurence Lien, CEO of NVPC, “We have a long way to go with corporate giving in Singapore. Corporates can and should give more to charity as part of their corporate community investment. The happy news though is that more corporates are now seeking assistance to design meaningful programmes. Apart from starting a giving programme, corporates can adopt more strategic practices such as adopting charities and give from their expertise and assets, which may be of greater value to charities.”
Formalised giving practices and more informed giving needed
The results also showed that 3 in 5 respondents did not have formalised giving practices. Moreover, 2 in 3 respondents do not measure effectiveness of company contributions. This may be associated with the lack of regular senior management involvement in planning/approval of contributions.
Opportunity for non-profits to engage corporate donors more strategically
8 The top attribute considered before giving to NPOs was “past performance of the NPO in achieving its mission”. This shows that corporates do consider the impact of a charity’s work before deciding to give.
The survey also found that respondents want assistance in various areas. For example, 52% wanted information on NPOs, such as volunteer/donation needs, 46% wanted more talks to encourage employee volunteerism and 35% wanted best practices manuals on corporate giving.
Respondents relied mostly on information from NPOs, such as publications or interviews. “Instead of simply asking for donations, non-profits should cite past performance in their fundraising appeals,” said Kevin Lee, a director at NVPC.
10 NVPC hopes that a more vibrant corporate giving culture can be created through the Corporate Giving Marketplace. Apart from these initiatives, NVPC also builds capacity in corporates through organising Corporate Giving Orientation Talks, Corporate Volunteer Manager Training Workshops, Corporate-NPO Speed-dating and other Networking / Knowledge Sharing Sessions for businesses to deepen their knowledge and skills in corporate giving.
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Background to Corporate Giving Survey 2012
Developed by NVPC, the Corporate Giving Survey (CGS) 2012 is a study of corporate giving among members of the Singapore Business Federation (SBF). SBF is the apex business chamber that champions the interest of the Singapore business community. SBF has more than 18,400 members, which represents the top 10% of companies in Singapore. The survey showed that corporate giving practices in Singapore are still in the infancy stage and much can be done to help companies give better. The creation of a “Corporate Giving Marketplace” seeks to provide companies with the advice, help and support they need to enhance their corporate giving efforts.
About Corporate Giving Council (CGC)
Corporate Giving Council (CGC) is an industry initiative that aims to guide the private sector in Singapore in making meaningful and sustainable contributions to the community. Member organisations include companies and business associations, who are committed to promoting greater volunteerism and philanthropy within the corporate environment. It acts as a bridge between corporates and not-for-profits, addressing a need to foster leadership, professional guidance, development and best practice in corporate giving. CGC is incubated by the National Volunteer & Philanthropy Centre (NVPC). More information about CGC and its activities can be
found here.
About National Volunteer & Philanthropy Centre (NVPC)
Transform. Catalyse. Connect.
These words shape what we do, which is to help people and organisations give well to causes they care about, so as to build compassionate and engaged communities in Singapore.We do this by working with other non-profits, companies, and public sector bodies to facilitate and strengthen giving in Singapore, whether of time, money or in-kind. NVPC is an independent, not-for-profit organisation. Visit us at www.nvpc.org.sg.
