Survey gives peek into business community generosity
WE RECENTLY RELEASED the results of a survey of Chartered Accountant Australia and New Zealand members looking at the extent of their pro-bono and voluntary support for charities and Not-for-Profit organisations.
The survey also gives an insight into the generosity of the general business community, supporting the invaluable work carried out by our community organisations.
For example, the vast majority (80 percent plus) of respondents to our survey gave “to help community organisations” as their primary reason for volunteering. Personal satisfaction and professional responsibility also rated highly.
Less than 10 percent of respondents listed “May lead to paid work” as their main motivation. I’d be surprised if business people felt much different. Among the NFP organisations I have been involved in, there have been a number of great business people who have contributed immensely.
Our survey also gives insights into the charity sub-sectors members, and in all likelihood business people, support. Culture and recreation organisations topped the list with respondents spending 40 percent of their volunteer hours with this sub-sector.
Someway behind are education and research, religion and social service which together accounted for another 28 percent.
Where this volunteering time is spent further highlights the community focus of our members’ pro bono work and volunteering which, again, is likely to be repeated throughout the business community.
SIMILAR SKILL-SET
Business people perhaps offer a similar skill-set to our members. Not surprisingly, two thirds of survey respondents rely on their financial and management skills when providing services.
Another interesting aspect to our survey is the longevity of our members’ involvements with charities. Nearly half of respondents report they had worked with charities for more than six years. So commitments are long term. The survey also looked at the barriers to volunteering. A long way out in front is a “lack of time” – cited by nearly 90 percent of respondents.
Other obstacles include professional risk and lack of information on opportunities to volunteer.
Our survey did not include monetary donations, another whole area of business giving.
As background, many charities face massive funding challenges on the back of falling income from traditional sources such as street appeals and bequests.
There are more than 27,000 New Zealand charities registered with Charity Services, the government agency which registers and monitors charities.
New Zealand has one of the highest ratios of charities per capita in the world and we expect consolidation and rationalisation.
Our tax system encourages charitable giving, offering tax benefits for corporate giving.
You can claim a tax deduction for donations made to an “approved donee”. You may also be eligible for a tax deduction on sponsorship to these organisations. Most registered charities are approved donees.
Like our members who donate their time “to help community organisations”, when a business donates to worthy local causes, it signals a commitment and concern for its community.
In your business planning for 2017, have a look at how you can give a helping hand.