1. Donations in lieu of Customer Appreciation Gifts: Rather than year-end customer/client appreciation gifts, make a donation to a charity that would resonate with your clients and that has a special meaning for, or a special connection to, your company (e.g., “In Honor of Jane Doe, Our Partner of 25 Years”).

2. Boost Employee Morale: For employees, instead of or in addition to the company picnic or cocktail party, arrange company-wide service projects for a day or two out of the office. Or, allow each employee to take one paid day off per quarter to volunteer at a company approved charity. Further, recognize, reward, and promote, both internally and externally, the volunteer efforts of employees and their appointment to significant roles within charities or socially beneficial organizations.

3. Enhance Training: For younger executives, help train them by partnering with charities that need executive-level assistance with marketing, strategic planning, budgeting, etc. “The best training for a young manager is to volunteer in a community organization.” — Peter Drucker

4. Donate Property Instead of Cash: Primarily for individuals, save taxes by making donations of highly appreciated, capital gain property rather than giving cash. For many types of property (but not all), there is a double benefit: the donor is entitled to a deduction for the fair market value of the property, and the charity pays no income tax when it sells the property.

5. “For-Cause Marketing”: Partner with a charitable organization that is aligned with your business interests. Contribute a percentage of each dollar of sales of a product to that charity (e.g., for every children’s book you purchase in February, we will contribute 5% of the sale price to the children’s literacy program).

6. Socially Responsible Investing: When making investment decisions, consider a company’s philanthropic and/or social values alongside its financial performance. Studies have shown that companies supporting philanthropic goals and socially responsible causes generally outperform those that do not.

7. Establish a Corporate Giving Program: Matching programs, corporate giving campaigns, and — at the high end — company foundations are all worthwhile endeavors that can build goodwill and customer loyalty. Every company and individual gets requests for donations; it is important to know your priorities so you can evaluate opportunities and respond appropriately.

8. Transfer High-Income Tax Assets to Charity: For individuals, retirement plans and IRAs can be transferred to charity to save both income and estate taxes. Again, there is a benefit to both the donor (i.e., avoiding income taxes) and the charity (i.e., receiving the property tax free).

9. Corporate Sponsorships/Nonprofit Collaboration: Think about synergistic relationships such as the Intercontinental Hotels Group and the National Furniture Bank, Avon and Breast Cancer, The Home Depot and Habitat for Humanity, Eckerd and Children’s Miracle Network, Disney and Make-A-Wish, WalMart and cheap prescriptions, and Microsoft and TechBridge. These are natural alliances born of shared values and goals and nurtured by a true exchange of resources. Your company, large or small, can forge similar alliances that produce important results.

10. For the Really Adventurous: Consider investing in social benefit organizations that combine for-profit activities with a social mission (e.g., wine labeling company that primarily employs disabled individuals, or the micro-finance company that makes loans to start-up enterprises in third world countries). Be aware of and consider supporting these new and emerging “hybrid’ organizations.