Corporate Philanthropy: Products With a Purpose

Companies are not only donating more money, but they increasingly are also integrating philanthropy into their missions, reports Inc.com.

In addition to donating a certain percentage of their revenues, corporations are seeking to support charities that are closely tied to the products they sell, a strategy pioneered by companies such as Patagonia and Starbucks. The former, a maker of outdoor gear, gives 1 percent of its sales to environmental causes.

Several companies have found tremendous business success in linking philanthropy to their products, the article reports.

Says Patagonia’s president and chief executive officer, Casey Sheahan: “This is in large part enlightened self-interest. To have a business, our customers need to have wild places to recreate. . . . . There’s no business to be done on a dead planet.”

Read The Chronicle’s latest update on corporate giving by America’s biggest companies.

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