Corporate Sponsorship and Donations: What You Need to Know
If you run a company, you may not have considered the benefits of offering corporate sponsorship to organisations or providing corporate donations. Below is an outline of some of the benefits of corporate sponsorship and corporate donations.
Corporate Sponsorship
Corporate sponsorship involves providing money in support of an event or an organisation. This money can be used to help to cover the operation cost of the organisation or event, or it may be used as part of a specific project, such as the construction of a new building or the purchase of new equipment. In return for your support, the organisation or event will typically list you as a sponsor on their promotional material, press releases, staff uniforms and will ensure that your company logo is displayed in a prominent position at any events. These actions help to boost brand awareness and increase the amount of positive media exposure that your company receives. Potential customers who are attending an event or interacting with an organisation you have sponsored will have the opportunity to learn about your business. By selecting events or organisations which are used by your target audience, you can increase the chance that your company will benefit from the offer of corporate sponsorship.
Corporate Donations
When you think of corporate donations, you probably think of offering financial assistance to a charitable or educational institution. While donating money is a valuable way of supporting other organisations, it can also be beneficial for your company. One benefit of making a financial donation to a charitable cause is that you can write the donation off when you need to file your tax returns. Depending on the size of the donation, this can help to significantly reduce the amount of corporation tax you need to pay. Donations can either take the form of one-off payments or ongoing matched funding. Matched funding involves making donations which match cent for cent the money raised by a charity over a fixed time period.
However, this isn't the only form of donation you can make. You may also want to consider donating equipment directly to a charitable organisation. For example, you could donate computers to a local school or sports equipment to a local school. Donating equipment, especially if it is equipment which your company sells, produces or uses, is a great way of promoting what you do.
To find out more, contact a company which specialises in this area.