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New study finds British Columbia's corporate community contributes $370 million annually to the province's charities
October 18, 2013 (Vancouver, BC) – Today, the Business Council of British Columbia released a first-of-its-kind study conducted by MNP which found that British Columbia’s business community contributes approximately $370 million in cash donations, sponsorships and partnerships to community and charitable organizations across the province each year. This is the first comprehensive study on the current levels of overall charitable contributions and partnership made by BC businesses in the province.
“Businesses of all sizes across the province are integral members of our communities who make significant contributions beyond jobs, capital investment and paying taxes,” says Mackenzie Kyle, MNP Managing Partner of Advisory Services in BC. “The report, which is the first of what will be an annual report, found that of the estimated $370 million in annual contributions, 85% are charitable cash donations, while $55 million are contributed through sponsorships and partnerships.”
This is the equivalent of approximately 17 per cent of all corporate taxes collected by the provincial government and excludes donations of time and in kind support.
“Whether it be donations to social services charities, health foundations or education causes, BC’s business leaders are often the drivers who address a need or an opportunity to improve our society through the personal or corporate contributions of time, money and expertise,” says Greg D’Avignon, President and CEO, Business Council of British Columbia. “Business leaders who I meet and work with at the Business Council aspire to make BC a better place and to make a positive contribution to the social and economic prosperity of those who live in the communities in which their business operates.”
“Strong competitive economies create prosperous businesses who contribute to the overall well-being of the communities in which they live,” said D’Avignon. “Prosperous companies and their employees are able to creatively give back to their communities through employee donation matching programs, employee volunteer programs and fundraising initiatives.”
“Our research identified how these contributions go beyond simply writing a cheque, as companies seek strategic partnerships where their employees can become engaged in the charity’s work and the specific outcomes in their local communities,” said Mackenzie Kyle.
As part of the study, MNP gathered donation and sponsorship data through an online survey, direct company interviews and by researching corporate reports from across BC’s major sectors for a total sample size of 80 businesses. Additionally, they reviewed a myriad of past studies on corporate giving.
MNP is the fastest growing major chartered accountancy and business advisory firm in Canada with 2,800 team members in 70 offices across the country, 15 offices of which are in BC. MNP is a member of Praxity AISBL, a global alliance of independent firms and have been named among the 50 Best Employers in Canada by MacLean’s magazine for four straight years.
The Business Council of British Columbia, now in its 47th year as the premier business organization in BC, represents 260 leading companies and enterprises in every key sector of the economy. Our membership, found throughout every region of BC, represents 25 percent of all jobs in the province.
Click HERE for full report
Click HERE for background summary
Business Council of British Columbia