From the Pledge 1% movement to matching gift programs on Giving Tuesday, corporate philanthropy takes many forms.
One particularly innovative way corporations can engage in charity is through auctions, such as St. Jude’s online charity auctions organized on Charitybuzz’s platform. Getting started with charity auctions requires nothing more than a sincere commitment, and there are tons of tools and guides to help you get it right.
You can also look at examples such as GLIDE’s Power of One Charity Lunch Auction for inspiration on how corporate leaders can drive tremendous impact for a good cause simply by volunteering their lunch breaks.
Initiated over two decades ago by Warren Buffett, this annual event has become a landmark in corporate philanthropy, not least because of how it merges celebrity allure with some serious fundraising chops. It is also a model well worthy of emulating by leaders keen to give back to their communities.
The Power of One Charity Lunch Auction
To date, the initiative has raised more than $50 million for GLIDE, a San Francisco non-profit that has rallied against poverty, homelessness and social injustice since 1929.
In our recent discussion with Dr. Gina Fromer, CEO of GLIDE, we looked back at how Buffett and Benioff came to be involved with the organization and what their support has meant for GLIDE. “Both Warren and Marc have always gone beyond the dollar. For them, just like for me, working with GLIDE is about service. They’ve set up a model that others can emulate, and I applaud them for doing so.”
The last auction with Buffett raised $19 million, allowing GLIDE to continue to grow its services that are desperately needed in the community. “What Warren and Marc have done is allowed us to focus on delivering a tangible return on each dollar invested. When we deliver impact, everyone in San Francisco will see it” Dr. Fromer explained.
2024 marks a pivotal year for the Power of One auction as Salesforce CEO Marc Benioff takes the reins from Buffett. Benioff’s debut in this role is not just a continuation of a well-established tradition, but an opportunity to amplify the auction’s impact and take it to new heights.
Acquiring A Global Audience For Local Impact
“I’m so excited that Marc Benioff – a CEO who is known for his commitment to philanthropy – has agreed to take the baton from Warren Buffett and keep this amazing event going strong,” Jamie Iannone, CEO of eBay noted in our recent interview.
With eBay continuing as the auction platform, the event promises to maintain its global reach, encouraging participation from a wide audience keen on making a tangible difference.
As Iannone explained, combining global auctions with locally established non-profits has facilitated the raising of millions, illustrating the profound impact that innovative corporate philanthropy can have.
“We launched eBay for Charity in 2003 – the same year we first partnered with GLIDE and Warren Buffett on the Power of One Charity Lunch Auction. Over the past 20 years, the eBay community has made an extraordinary difference – raising more than $1.3 billion for nonprofits globally. I am grateful to every buyer or seller who’s contributed to this program, and know that eBay for Charity will continue to benefit millions of people around the world for decades to come,” Jamie reflected.
This year’s auction isn’t just a ticket for a high-powered meal.
The auction is a shared statement by Benioff, eBay and the bidders of ongoing commitment to the values that GLIDE stands for—equity, transformation, and community support.
As corporate leaders like Benioff and Iannone champion such causes by donating their own resources and time, they set a precedent for how businesses can play a pivotal role in fostering social change, making the Power of One Charity Lunch Auction a powerful model for others to replicate.
“This is infectious,” just like Dr. Fromer summarized our discussion on doing good by your own community.