topic Re: Navigating profit allocation for social impact: Decision-making and factors in 1% Profit Group

Navigating profit allocation for social impact: Decision-making and factors

Michelle Fifis — Wed, 20 Mar 2024 14:58:20 GMT

On your journey of giving back through profit donation programs, having a clearly defined process for selecting recipients and distributing funds is beneficial.

To kick off the discussion in this new group, let's explore the following:

How are decisions made regarding the allocation of profits for donation purposes in your organization? What factors do you consider when determining the recipients and the distribution of funds?

Some things to think about:

Aligning donation goals with the company's values and mission.
Assessing the impact potential of different donation recipients and projects.
Engaging stakeholders and employees in the decision-making process.
Ensuring transparency and accountability in fund distribution.

Please share your ideas, examples, and suggestions to improve our impact programs. Thanks for your participation!

Re: Navigating profit allocation for social impact: Decision-making and factors

Ricky-Marton_Koru — Wed, 20 Mar 2024 16:35:04 GMT

This topic is highly aligned with our work at Koru and find it helpful to think of giving from a different perspective. When thinking about channeling your organization's profits into donations, the trick is to marry your philanthropic efforts with the essence of what your business stands for. Imagine each dollar as an ambassador of your company's values, journeying out into the world to sow seeds that grow into the impact you wish to see. It's not just about selecting a recipient; it's about crafting a long-term narrative of change that your company is a key part of. Consider the stories that your donations could tell and how they reflect on your company's mission. This could mean diving deeper into the causes you support, ensuring they not only align with your business's ethos but also have the power to bring about significant, positive transformations. Engaging your stakeholders (employees, consumers, investors, etc.) in these decisions can add a rich, collaborative layer to your giving strategy, deepening the sense of purpose.

Above all, maintaining a transparent narrative about where and why funds are allocated in this way solidifies trust and cements your reputation as a business that doesn't just aim for profit but strives for purpose.

Re: Navigating profit allocation for social impact: Decision-making and factors

Michelle Fifis — Wed, 20 Mar 2024 19:49:04 GMT

Thank you for your comment, @Ricky-Marton_Koru . Your perspective on turning each dollar into an "ambassador of your company's values" is truly inspiring. It's about more than just where the money goes; it's about the stories we want to tell and the change we want to see.

Re: Navigating profit allocation for social impact: Decision-making and factors

Kali N — Wed, 10 Apr 2024 01:58:51 GMT

Thanks @Ricky-Marton_Koru ! I'd love to know more about your comment on " maintaining a transparent narrative about where and why funds are allocated in this way" - is this something you release outside of an annual report? I'd love to know where & how you communicate this, it's definitely something we're talking about how we could improve

Re: Navigating profit allocation for social impact: Decision-making and factors

Ricky-Marton_Koru — Wed, 10 Apr 2024 16:00:27 GMT

Hi @Kali N ! Sure thing! This topic is really important to me; the concept of fund allocation and finding synergy between partners and causes was a core component of my PhD research actually! We, Koru, don't release this sort of thing but our core business model revolves around helping other companies find the right avenues to lean into and help them push this public transparency to be front and center regarding their giving and sustainability initiatives. The impact sector has long been fraught with the negative feedback of being a superfluous nice-to-have that is often mistaken for a PR boost, but we're working to redefine the rhetoric around giving. I'd love to find time to dive deeper into this if interested!