| "The real leader of the pack isn't the foundation with the biggest checkbook; it's the one that takes the biggest risks."
Key Takeaways:
- There is a growing trend of consumers willing to pay more for a product that will do some good in the world.
- Companies should consider taking a long-term approach to grantmaking, investing large sums of money in phases to the same organizations over a period of time. This allows for less administration and more opportunity for impact measurement.
- There needs to be more transparency in corporate giving because the public must clearly understand where the money is going (for example, quantify a statement like "a portion of the net proceeds").
- Philanthropy helps MAC differentiate its brand not only with consumers but also with its employees, significantly impacting the company's rate of employee turnover.
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