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In the business world, we’re always talking about exponential growth. But more important than user growth or revenue is the exponential societal growth prompted by philanthropic giving. By volunteering your time and resources to help others, you can create a ripple effect that has the power to outlast your business legacy. Who cares about creating $10 billion of enterprise value for various companies? During my lifetime, I want to build one million fearless leaders. After all, what really matters is being a good person and instilling those values in others.
I began to recognize the impact of philanthropy as a kid when I would do all sorts of activities with my parents and sister, Beth, who was born with Down Syndrome. From supporting her youth groups to her Special Olympics training, every weekend our family would engage in some act of charitable giving.
As I got older and entered “the real world,” I discovered new ways to give. My friends would question why I spent my Saturday mornings coaching Little League rather than going out on Friday nights. At the time I didn’t have a good answer, but looking back, I knew the impact my actions could have: I’d seen the difference they made in Beth’s life firsthand. When I started my career at 21, I set up a little system to give a percentage of each paycheck to charity as well as my 401K.
Now, at 54, after being a CEO for 23 years and having six successful exits, I understand the impact of giving more than ever. I know you can wake up and go volunteer on a Saturday morning for Special Olympics and travel home in awe of the impact you had on those athletes in just a four-hour period. It makes you realize, come Monday, the impact you can have in 40 hours.
Maximizing Impact by Aligning Philanthropy with Values
When I first began consciously investing my time and money into various charities, I just gravitated to what I was presented with. If our company was doing United Way, I did United Way. If our company was doing homeless shelters, I did homeless shelters. I really didn’t have a particular area, I just kind of went with the flow.
Later, my wife and I had a number of employees, friends, family and neighbors approach us, and we just didn’t say no. We gave to a wide range of causes—everything from breast cancer, to youth sports, to elderly care. Then one time while doing a tax return, we asked ourselves if we made a significant impact with the money we gave. Sure, we had made lots of small, micro impacts, and every charity we gave to was undoubtedly worthy. But we realized we weren’t giving in a deliberate way.
The Rolling Stone Culture Council is an invitation-only community for Influencers, Innovators and Creatives. Do I qualify?
In 2012, Dana and I established our foundation, The Keegan Family Courage & Faith Foundation, with the goal of giving $10 million. My wife and I wrote a mission statement and decided that our goal would be to build the next generation of leaders and give them an opportunity to prosper. To achieve this, our focus has been on youth academics, athletics, and at-risk youth, giving to academic institutions in the greater New Hampshire Boston area (it’s amazing how little we pay our teachers considering how formative they are in our development!).
By writing larger, targeted checks to smaller organizations, we witnessed tangible changes that wouldn’t have been possible without our concentrated support. While we occasionally deviate away from our target groups for compelling cases, staying true to our mission allows us to drive meaningful change for the next generation of leaders.
Leading by Example: Integrating Philanthropy into Corporate Culture
If we relied on individuals alone for philanthropic giving, there would be a large gap between what nonprofits need and what they’re actually able to get. Business plays a pivotal role in helping nonprofits meet their quotas while spurning more individuals to make charitable giving part of their lives.
One powerful way to weave philanthropy into corporate culture is by quietly extending invitations to employees or colleagues to join charitable events. Maybe it’s not something you should be sending a mass email about, or requiring mandatory attendance on a Saturday. But by casually inviting a few colleagues to engage in mentorship programs or run a 5k for a cause close to your heart, you lead by example and inspire others to give back.
Another actionable strategy to enhance charitable giving in the workplace is to incentivize it on the company level. At some companies that I’ve been a part of, we provided every employee with two days of paid time off where they could volunteer at their charity of choice. We didn’t put any constraints on what they could do, and it gave people who wouldn’t normally volunteer the chance to go out and do it. The benefits were far beyond people getting their jobs done. It really affected the culture, prompting our employees to take pride in working for a company that values giving back. This translated into improved retention — an important thing in a competitive labor force.
The Ripple Effect: Amplifying Impact Through Leadership
As you go through life, you may find that all the goodwill and karma you put into the world can absolutely come back to you in fun and fascinating ways. Some of the best relationships, most impactful moments and kindest people I’ve ever met in my life have come to me through my involvement with philanthropy. It’s never correlated one-to-one, but if you give and you have a big heart, you can receive abundance.
By instilling values and leading through charitable endeavors, we can create a ripple effect of positive change. Getting involved in philanthropy in business settings can inspire ever more leaders to make charity an integral part of their lives. One fearless leader can impact five, 10 or 15 people who, in turn, inspire others. That, ladies and gentlemen, is the exponential power of leadership through giving.
