Each cycle, every LBG Canada company participates in a detailed, line-by-line audit of their entire community investment portfolio.
The purpose of the annual audit (or benchmarking) is to assist each company in demonstrating value of their portfolio of cash, in-kind, time and management expenditure, as well as employee volunteering & giving efforts. The results allow both LBG Canada companies and external audiences to be confident that figures stated in reporting and communications are a true reflection of the value of the community investment portfolio.
Submitting community investment data for review is designed to be a simple and straightforward process, and to assit, SiMPACT has compiled a list of frequently asked questions and answers to help define what type of information can be included in the benchmarking process.
What should I include for Contribution/Investment Data?
In addition to your company’s line-by-line cash transaction list, you would include any in-kind contributions and volunteer time that occurred during working hours. In-kind contributions are non-monetary donations that can have a cash value assigned to them and are assessed at cost value and not market value.
When referring to Matched Giving contributions, should I differentiate between the contributions donated by employees and those matched by the company?
Yes. It is important to keep these numbers separate as donations made by employees, clients, or suppliers would be considered external resources leveraged, and valued separately from the company matched contribution.
What kind of external resources can I leverage?
Employee’s time volunteered during non-working hours, money raised through fundraising events initiated by your company, funds donated through a payroll giving program, funds donated by clients/customers through your company’s fundraising initiative, supplier funds, government funds, etc.
What should I include for program management costs?
Most costs associated with managing and maintaining a community investment program/department are considered eligible under “program management costs”. This can include: staff salaries, overhead costs (benefits, rent, IT –sometimes determined by a percentage of the overall cost to your company), communication or public relations resources in relation to community investment, travel costs, training and development, memberships and subscription fees, as well as any costs associated with research and evaluation.
If you have questions around the eligibility of specific contributions, or would like more information about the LBG Canada Benchmarking process, then please contact SiMPACT Strategy Group for more information.