Innovation in Corporate Philanthropy

When thinking of corporate philanthropy, direct monetary gifts first come to mind. However, today’s CSR plans use “strategic philanthropy” to advance company goals and increase revenues, with cause-related marketing emerging as an important and influential activity. Diamond Head Research tracks the different approaches to corporate philanthropy and highlights those that can best impact the “triple P’s” of CSR – people, planet, and profit. Some of the areas we track include:

•Corporate philanthropy

•Company donations to charity

•Corporate foundations

•Cause-related marketing

•Charitable donations based on product sales or other performance criteria

•Matching gifts

•Grants

•Volunteer and employee grants

•Award programs

 Examples of CSR Innovation in Corporate Philanthropy

  • Johnson & Johnson Center for Health Worker Innovation

    We like Johnson & Johnson’s Center for Health Worker Innovation, funded in part by the Johnson & Johnson Foundation. The timely goal of the Center is to address human resources shortfalls in the global healthcare industry. The Center focuses on equipping nurses, midwives, and community health workers with training and equipment. The Center also has $50 million earmarked specifically for frontline health workers battling Covid-19.

  • GE Foundation's Next Engineers Program

    We’re tracking the progress of the GE Foundation’s Next Engineers Program, which represents a commitment of $100 million over 10 years to increase diversity in young people in the field of engineering. Starting with four cities, the program aims to reach 25 cities by 2030, engaging with over 85,000 students aged 13 to 18. The program will provide scholarships and grants to students, encouraging their pursuit of an engineering focused education.

  • Google to build 20,000 Bay Area Homes

    We’re watching the progress of Google’s $1 billion commitment to bring 20,000 homes to the Bay Area of California, home to its corporate headquarters. Over the next ten years, the company will repurpose its land from commercial zoning to residential zoning, paving the way for 15,000 new residences. Another $250 million has been established in a separate fund to provide 5,000 additional affordable housing units. Originally announced in 2019, we will be watching the progress of this massive investment into the community.