What Gives?
Philanthropy strengthens our community. Philanthropy strengthens the businesses that practice it. In 2023, Americans gave more than $557 billion in philanthropic support to nonprofit institutions. Individuals accounted for 67% of that total, foundations 19%, bequests 8%, and corporations 7% — more than $36.5 billion. While the level of corporate support is smaller than many assume, this number is not reflective of the many ways corporations benefit our local and global communities. Outside philanthropic investments, corporate executives lend their professional experience, technical expertise and personal networks on nonprofit boards; marketing-oriented sponsorships provide financial resources, advertising, media and reputational capital; and employees provide countless hours in volunteer support.
How does this benefit those corporations demonstrating their commitment to the communities they serve? Increasingly, whether it is appreciating financial support; recognizing volunteer engagement, aligning with corporations’ social responsibility priorities, driving consumers to buy socially responsible products and services, attracting employees in an increasing competitive workforce environment, or securing investors seeking mission-aligned institutions in which to buy stock — companies on the leading edge of philanthropy, volunteerism and positive social change are increasingly those corporations that consumers are attracted to when making decisions on what to buy and where to invest.
Strategic philanthropy and community leadership drives the triple bottom line — of financial, social and environmental enrichment, revenue and profitability.
The cover story in this March edition of In Business Magazine looks at various for-profit and nonprofit organizations to examine different ways of aligning philanthropy with business goals and incorporating efforts into their business model. The Feedback feature takes one aspect of that, and three local businesses share their experience and the value of its impact on their workforce.
In feature article “10 Rules for Brainstorming Success,” Susan Robertson discusses how to navigate through the necessary level of chaos of listening to all suggestions to ending with a plan of action on a short list of ideas.
“Navigate” is also the key word Kurt Ranka uses in his Economy feature as he discusses how original equipment manufacturers, particularly those in industrial and motor-wheeled industries, are adapting their pricing in a time of cooling inflation and uncertainty around tariff policies.
In this edition’s Legal feature, Liz Goodman and Madelaine Biggs distill information to help businesses stay abreast of proposed legislation being discussed in the current session of our state legislature.
Addressing benefits needs in a multigenerational workforce, trending impact of lifestyle choices on real estate decisions and using AI to increase individuals’ privacy — not the usual angle associated with AI — are part of this typically content-rich edition of In Business Magazine.
And of course, In Business Magazine’s annual support of Arizona Gives Day in collaboration with AZ Impact for Good — this March edition includes the 2025 Giving Guide to help businesses participate in the giving event on April 1.
I’m pleased to help bring you this March edition of In Business Magazine. I hope this edition helps inspire you and your company to increase your generosity and enhance your community leadership.
Sincerely,
Richard Tollefson
Founder & President
The Phoenix Philanthropy Group
Richard Tollefson is the founder and president of The Phoenix Philanthropy Group, an international consulting firm based in Arizona. He established the firm in 2004 after a successful career in fundraising and advancement management. Phoenix Philanthropy partners with nonprofits and philanthropists to develop strategies and resources that maximize their impact. The firm provides strategic planning, revenue generation, constituent relations, and organizational development to help clients achieve their goals.
