Over 100 top leaders with 76 prominent nonprofit organizations met to share both success stories and challenges on how to attract corporate financial supporters from a group of highly philanthropic company leaders at the first-ever Satell Institute Nonprofit-Business Leadership Summit on November 14, 2019.
Most of the experienced nonprofits attending the Summit at the historic Franklin Institute in Philadelphia have already received recurring funding from members of the Satell Institute, an independent, nonprofit, fully endowed Think and Do Tank© for corporate social responsibility. One of the hallmarks of the Satell Institute’s work is a requirement that member companies contribute a minimum of $25,000 per year over four years to help support a nonprofit or nonprofits of their choice.
The Summit provided a way for nonprofit leaders to gain valuable insights into how best to attract funding partners for their work.
An expert panel of CEOs and corporate social responsibility leaders said it was important to understand how a nonprofit’s mission fits with a business’ goals, build relationships with management and tell stories in a compelling way that help attract company buy-in. Understanding the focus of individual companies gives direction to nonprofits seeking volunteer and financial support, the panelists agreed.
The focus became particularly clear in videotaped remarks by founder Ed Satell, who said nonprofit organizations do heroic problem-solving work within the community, and the most important nonprofit to any individual was the one they needed at any given time. He congratulated the nonprofits in the room for the great work they do and encouraged them to learn from each other.
For many who attended, the candid table discussions were one of the most valuable parts of the day. At each table there was a discussion among nonprofit leaders sharing their successes, goals and challenges.
Attendees left with the inspiring takeaways such as:
- Effective partnerships between the business and nonprofit community start with building open and candid relationships of interest.
- It is important to be specific about goals and to try to communicate often. Business wants, and benefits from, the information.
- Long-term commitments create the opportunity for more valuable two-way partnership and greater impact.
- Both businesses and nonprofits need to listen to educate each other in what is needed to create the desired outcomes for the business and the community.
The stimulation and knowledge gained left many of the attending experts and stakeholders looking forward to returning for the next Satell Institute conference.
The Satell Institute Continues to Welcome New Members
Membership at SI continues to grow with great companies and private business donors and foundations choosing to support CSR locally with initiatives of their choice.
The Institute continues to expand and proudly welcomes Danella Companies, a business dedicated to the impact of CSR in our region. The Danella team operates with pride in everything they do, delivering industry-leading construction and engineering performance across the utility, rail, and construction equipment rental industries. The company’s four-year commitment to LaSalle Academy’s 3rd to 8th grade at-risk students is a powerful example of aligning the company’s mantra — We Make Life Go—to community partnership.