Within just one week of the disastrous Moore, OK tornado, millions of dollars have been donated to charities and the city alike to help with recovery efforts. While individuals and many faith-based organizations are showing support, the donations from businesses and large corporations are particularly noticeable. From sports teams to Fortune 500 companies, the desire to donate is as fierce as ever.
The Chicago Blackhawks recently announced that a percentage of the profits from Game 5 of the Western Conference Semifinals will be donated to the tornado relief fund. The game is against Detroit. Even individual athletes such as NBA player Kevin Durrant are pledging up to $1 million to disaster relief efforts. Nike and Oklahoma City Thunder are also donating to nonprofits in Moore, OK.
Members of the National Automobile Dealers Association are making concerted efforts to assist dealers and victims of the tornado. Ford Motor Co., the Volkswagen of America Foundation, and the General Motors Foundation are supporting not only their dealerships and families in the area, but the greater community as well. Six employees from these car dealerships completely lost their homes from the tornado and 8 more sustained considerable damage.
Other than financial support, companies are donating in more creative ways as well by lending equipment, staff, buildings, volunteers, and other heart-felt donations. For instance, Chesapeake Energy has donated the use of some of their industrial heavy machinery to help clear debris from damaged areas. While this type of equipment is typically used to assemble drilling rigs, the teams are trained to work in austere conditions.
CFOs Play a Role in Charitable Efforts
Surveys show that the number 2 reason why CFOs want more influential roles in their companies is so they can have an influence when it comes to giving back through charitable roles. Because CFOs have such a prominent position, their willingness to volunteer time and resources sets an influential example for the rest of the company’s workforce. Whether they’re joining a new company or seeking to redefine their role, CFOs must develop soft skills such as leadership, communication, and guiding group dynamics to implement positive change and philanthropic attitudes.