Suggestions On Corporate Donations

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This issue of SynTao Think Tank Express (Click Here for Chinese Version) contains the updated donation information as well as several suggestions on corporate donations. It is our belief that the most important thing currently is to deliver the most needed to where they are most urgently needed. Meanwhile, there will be demand for funds throughout the year, and as the prevention and control of epidemic campaign proceeds, there will be different types of demand in the future. 

 

For further info, please contact Mr.Xin WANG by wangxin@syntao.com.

 

WHEN AND HOW TO DONATE

 
  • Medical companies can directly donate the emergency supplies as needed. There is desperately short of medical standard protective clothing, goggles and masks for medical professionals. And the supply shortage is expected to be alleviated in a week as the factories related resume the normal production after the Chinese New Year. Manufacturers of other emergency supplies (such as drinking water etc.) can also follow this recommendation.

 

  • Non-medical companies can donate fund or work with their local partners to purchase supplies needed locally and deliver them to Wuhan.

 

  • Proportionate funds may be reserved for areas such as post-epidemic support and assistance, reconstruction, and related scientific research. It is expected that after the epidemic, there will be increasing demand for psychological assistance for medical workers, and for patients with critical conditions and their families for psychological and financial assistance. It is also necessary for society and businesses collectively act on raise the awareness of wildlife protection, and publicise information on wildlife food safety and wildlife health knowledge, further enhance the emergency response system of non-governmental healthcare sector, and support the scientific research in related fields.

 

DISCLOSURE OF DONATION INFORMATION

 
  • Companies should keep all donation agreements, invoices and/or receipts for record, and disclose the key information to the public.
 
  • In terms of donation transparency and integrity, the donor companies and the recipient organizations should at least disclose three terms of information: announcement of the donation, the summary of the use of fund and the arrangement for the remaining fund (if any) after the supported program is completed. If conditions permit, companies can also disclose information during the process. For companies, adequate information disclosure is both positive public communication and self-supervision.

     

SUGGESTED DONATION CHANNELS

 
  • In early stage of the epidemic, donations are mainly given to medical institutions and NGOs (or the demand side), mainly in the form of medical supplies needed, and sourced by the companies directly. 

 

  • At the current stage, it is recommended that companies can channel their donations through the five charitable organizations in Hubei, either by themselves or through their partnering charitable foundation: Red Cross Society of Hubei, Hubei Charity Federation, Hubei Youth Development Foundation, Wuhan Charity Federation, and Red Cross Society of Wuhan.

 

  • If there are difficulties on contacting these organizations due to overloaded work, companies can pledge the donation first and publicly announce their donation commitment. Allocation of fund and materials can be arranged as conditions permit, to support the epidemic areas in a sustained way.

 

ACTIONS OTHER THAN DONATION

 
  • Learn about the unmet needs, especially pay attention to rural areas and areas outside of Wuhan.

 

  • Besides the donation, companies can also provide services needed by groups affected, such as emergency insurance, hotel services, especially free of charge or discounted rate and expedient services. For companies whose business related to the daily life, such as Internet, education, consumer goods, service, and recreational industries, there are adequate opportunities to leverage their business capabilities and business ecologies to support the epidemic campaign.

 

  • We also recommend you take good care of and protect your employees and partners to ensure stable and sustainable operations. You can cooperate with professional healthcare institutions or workplace safety organizations to set up or improve an enterprise-level emergency system for the disease prevention and control.

     

For further info, please contact Mr.Xin WANG by wangxin@syntao.com. 

 

Translated by Mr.Xin WANG with input of QTT.

2020年1月30日 10:25
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