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Want to get your business involved in some charity work, but not sure how to go about it? Giving to charity as a business can be a great way of giving something back to the world. It does however require getting to grips with legislation surrounding charity work as well as having a clear cause. Here are the steps you should take when getting your business involved in charity work.
Find your cause
First, you need to decide your cause. This could be anything that’s personal to you or related to your line of work. You need to then decide whether you’re going to donate to an existing charity or set up your own charity from which you get to choose exactly where the money goes. The latter option is a little more complicated, however it could give you more control over where your funds end up.
Decide how you’re going to raise money
There are lots of different ways to raise money. You could organize a crowdfunding event such as a fair or a sponsored run. Alternatively, you could set up a collection jar for people to put their spare change into which could be placed in your work building or taken out on the streets for members of the public to donate money into. You could even simply donate a sum of your earnings to charity or donate a set share of your profits each month.
Set up a charity account
If proceeds are going into your bank, you’ll want to set up a charity account to separate these donations from the rest of your earnings do that you don’t get taxed on these donations. If you’re setting up your own charity, you’ll need to register it first before creating an account. It’s worth shopping around for charity accounts at comparison sites like https://www.money.co.uk/current-accounts/charity-bank-accounts.htm as interest rates and fees can differ. Money in a charity account can only be legally taken out and used for charitable purposes – you could get into a lot of trouble for dipping into it for other expenses.
Monitor your funds
When it comes to more complex forms of donation, it’s worth setting up a system to monitor this money coming in. You can find donor and fundraising services to do this at sites like http://www.globalfacesdirect.com/our-services/retention-and-monthly-donor-management/. This could allow you to keep track of individual donors so that you can thank them for their contributions.
Promote your cause
Just as you would market your business, it’s worth doing some heavy promotion of your cause – especially if it’s the public that will be doing most of the donating. Shout about it on social media, mention it on your website and mention it to clients in person. You should try to get your employees involved too – they’re likely to feel good about participating in your cause, although you should respect the issues of anyone who doesn’t want to get involved for personal moral reasons.