Walking the charitable walk
It’s no secret that corporate responsibility and community support are main core values here at IGY Marinas. However, it doesn’t matter how much you talk about giving back to your community, if you don’t actually follow through with your promises.
The easiest way to do that would be to just write a check and call it a day. But not taking the time to do your homework can be a major mistake. It’s vital for businesses to make sure they are doing their due diligence and researching the organizations they are supporting.
Especially after natural disasters, it’s more important than ever for businesses to make sure they are partnering with credible charities. Doing research will help ensure that efforts will truly benefit those most in need.
Given that marinas can be hyper local businesses, we often work more closely with our operating teams to gain insight into worthy organizations and causes. It is important to research which organizations will benefit the most from contributions, and which organizations will have the largest impact in the distribution of funds.
Organizations raising money for a wider cause awarded with a 501(c)3 certificate, are held to a set of standards to ensure funds are distributed and/or utilized for charitable purposes. One of the main benefits of donating to a 501(c)3 charitable fund, is the donation is 100 percent tax deductible.
At IGY, we have worked with many of our partners and investors to help establish The NYC Eastern Caribbean Relief Fund in order to help the areas impacted by natural disasters after Hurricanes Irma and Maria devastated the Caribbean Islands. While many of the areas may be receiving resources from organizations and individual government entities, donating to nonprofits is important.
Large organizations and government assistance can sometimes take a while to help certain areas due to approvals, regulations, and other political reasons we may not understand. By donating to privately held relief funds, relief is on-going, targeted, and localized. Especially in the parts of the Caribbean that were devastated by the recent hurricanes, it provides a much-needed extra hand and continually fills in any gaps.
All of these components should be taken into consideration when choosing charities to support with monetary donations. IGY also utilizes these as guidelines when speaking with charitable organizations for the annual IGY Marinas “Inspire Giving through You” initiatives.
While monetary donations are always welcome and an important component of corporate charity, volunteering also has many intangible benefits including satisfaction, pride and a sense of accomplishment.
Tom Mukamal is the CEO of IGY Marinas. For more information on IGY Marinas or its collection of marina destinations, visit www.IGYMarinas.com.
