4% of the world’s billionaires are of Indian origin. In comparison to most developing countries, philanthropy in India has grown a lot in the recent years. It has been observed that India’s younger generation has created a new wave of social responsibility and giving. As the Indian economy grows and the spending capacity of people increases, the individual mindset of people is also changing. Such a change in thought isn’t just limited to individuals and groups, but also corporates, who have recognized the benefits of what has been termed – ‘strategic giving’.

Let’s begin by understanding what strategic giving really is. No, it isn’t just an annual CSR activity where you sign a grant cheque for a non profit, and in turn gain some goodwill. The relationship between a corporate and a nonprofit is much more nuanced, in a way that ensures both are equal beneficiaries of the partnership. This means companies ensure that their charitable activities are targeted towards a certain issue that will support their own business objectives. For that, companies need a predetermined strategy that includes, goals, budgets, investments, and long-term giving objectives. That said, strategic giving can be narrowed down by certain criterion that define its underlying logic.

• Fundraising activities are chosen based on pragmatic rationale, as opposed to emotion
• A company’s fundraisers will have a common area of focus, one that aligns to its value objectives
• A strategic giver aims to give larger donations, even if to fewer causes
• Strategic giving isn’t just about money, but also about volunteering, collaboration, and activating personal networks

Strategic philanthropists are most successful when their charitable work reflects the vision and mission of their own business. The reason is that donating to an organization doesn’t just mean giving a donation, but it means that you have aligned yourself with their cause. Therefore it is vital to pick causes that you are comfortable being associated with for a long time. Going further beyond, organizations should aim to leave a legacy with their philanthropic strategy. Take the example of the TATA group, that is known and honoured for their contribution in the charitable sector. With regards to philanthropy in India, the TATA group formed one of the largest trusts that has fueled innumerable development projects in the country.

Contemporary philanthropy has taken many different forms. With technology and digitization playing a major role in our lives, the newer generations are leaning towards online giving through fundraising India campaigns. Growing concepts such as these encourages strategic philanthropy and social work, simply by making the process much easier. One simply has to choose an online crowdfunding platform and set up a campaign for the cause. Nonprofits too are beginning to see their growth opportunities through crowdfunding, and hence using NGO crowdfunding campaigns for funding.

Strategic giving make a difference not only in how you are viewed, but also in increasing business opportunities, drawing in employees, as well as in providing a meaningful way to express one’s personal philosophies. Now more than ever, corporates are in the midst of a culture that propagates social responsibility. With an array of options such as online fundraising and crowdfunding, corporates have the chance to grow their philanthropic portfolio and make it as comprehensive as possible. Implementing a strong strategy for giving is the best way to do well in your own ventures, as well as to make a difference in society.