Beyond Profits

January 30th, 2013

This week on Business Matters, we talk about what it means for businesses to go beyond profits.  What can happen when businesses decide to give back to the community?  What benefits do companies perceive may arise from philanthropic work?   How can “doing good” affect employee retention rates?  In what ways do philanthropies themselves benefit from corporate involvement?  What are the preferred ways for companies to be involved in community organizations?

We discover some surprising statistics about the amount of money, investment in volunteerism, and the number of corporations involved in giving back to their communities, and the reasons “giving back” is important to business.  We hear the interesting story of a philanthropic project offered by Hewlett Packard to economically depressed areas, noting the many benefits and some pitfalls of this corporate-community collaborative project.  Then we discuss the benefits to communities and businesses when corporations offer support to local not-for-profit organizations, including employee retention,  community resiliency, and long-term interactions with consumers.  We also hear suggestions for business leaders who are interested in offering such support.

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Margaret Coady

Margaret CoadyMargaret Coady is Director of the Committee Encouraging Corporate Philanthropy.  Since joining the organization in early 2005, Margaret’s close work with member companies, oversight of the Committee’s proprietary Corporate Giving Standard online benchmarking system, and her authorship of four editions of the annual “Giving in Numbers” report have established her as a leading authority on emerging trends in the field of corporate giving.  She lectures for national and international audiences and has appeared on television and radio programs including BBC World Report, CNBC Morning Call, and CNBC Street Signs.  To learn more about Margaret, visit the CECP website.

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David Fetterman, Ph.D.

David FettermanDavid M. Fetterman is President and CEO of Fetterman & Associates, an international evaluation consulting firm. He is Professor of Education at the University of Arkansas at Pine Bluff and the Director of the Arkansas Evaluation Center. Over 25 years of service, he held positions in Stanford University’s administration, School of Education, and School of Medicine. He is the author of many books, including Empowerment Evaluation Principles in PracticeEthnography: Step by Step, 3rd Edition, and most recently, Empowerment Evaluation in the Digital Villages: Hewlett Packard’s $15 Million Race Towards Social Justice.

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[audio: FettermanPodcast.mp3]

Nancy Wackstein

Nancy Wackstein 2Nancy Wackstein has been Executive Director of United Neighborhood Houses of New York (UNH) since 2002.  UNH is the federation of the City’s 38 settlement houses and community centers.   Prior to her UNH appointment, she was the Executive Director of Lenox Hill Neighborhood House, a settlement house on Manhattan’s East Side, for eleven years.

Ms. Wackstein served as Director of the Mayor’s Office on Homelessness and SRO Housing from 1990-1991 under Mayor David N. Dinkins.  She was Senior Policy Advisor for Human Services in Manhattan Borough President David Dinkins’ Office from 1986-1989, where she was also Staff Director for the Task Force on Housing for Homeless Families.

Ms. Wackstein currently serves on the Board of Directors of several non-profit organizations, including the United Way of New York City and is Immediate Past Board Chair of the Human Services Council of New York.  Ms. Wackstein was appointed by Mayor Michael R. Bloomberg to the New York City Youth Board, the Citywide Coordinating Committee to End Chronic Homelessness, the New York City Commission for Economic Opportunity, and the NYC Commission on LGBTQ Runaway and Homeless Youth.

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