Hi, I am Bette Hochberger CPA, CGMA, and on today’s Finance Friday, I have a special guest, Eric Chafin, who has come on to tell us about the ROI (Return on Impact) of charitable giving.
Erik Chafin is the Chief Development Officer at Children’s Harbor, an organization in Plantation, Florida, that helps teens who have gone through neglect, abuse, and abandonment. As Chief Development Officer, Erik’s primary role is to manage a philanthropic, educational approach to ensure the overall growth and long-term stability of Children’s Harbor, Inc. He also works to ensure the strategic direction and development of the agency through community collaboration and corporate partnerships. Before joining Children’s Harbor in his current capacity, Erik served on the board of directors, where he helped cultivate community relationships, awareness, and philanthropic relationships.
Erik explains in the video above the ROI of charitable giving. Although the ROI he refers to is not the typical ROI, we refer to in business but instead stands for return on impact. Return on impact answers the question, “What is the impact of the dollars that I’m giving to any organization here in Florida?” Children’s harbor is very intentional and very transparent about your ROI. They love to have those conversations with people in the community and do things a little bit differently. For every dollar they bring into the children’s harbor, eighty-eight cents of that dollar goes directly to the kids.
They throw these events quarterly with sponsors. Not only can you give back and help an organization like Children’s Harbor, but you have the opportunity to speak in front of a hundred plus C-level individuals. They have had a wide array of harbor keepers that help move the needle forward. They have high-level attorneys, bankers, CPAs, business brokers, and a ton of different folks coming there, and most of the time, they’ve been in the Broward county arena for decades.