Approach
RBC believes in contributing to communities across North
America and around the world where we operate.
Cornerstones
Donations and sponsorships are the cornerstones of the RBC
Community Blueprint in our community investment programs.
While donations are given as gifts, sponsorships are deliberately
negotiated for marketing purposes, to align with our brand
and business strategies and deliver a quantifiable return
on investment. By leveraging our strategic partnerships, we
can truly differentiate RBC as a leading company committed
to enabling the success of our customers and our communities.
Governance
The member companies of RBC administer charitable donations
in Canada through the RBC Foundation®, established in
1993. Our Donations Policy covers our guidelines and strategy
and is reviewed annually by the Public Policy Committee of
the Board of Directors.
RBC Foundation has its own Board of Directors, representing
each of our businesses, to set policy and ratify all donations
made in North America. The Foundation is staffed by five employees.
To ensure our giving fulfills local needs, we also have professional
grant-makers situated in each of our regional Canadian
headquarters as well as in our United States and Caribbean
businesses.
Due diligence
RBC Foundation in Canada receives about 25,000 requests for
funding each year - more than 10 requests for every hour of
the business day. With this many proposals, we notice when
mandates of different charities overlap and we encourage synergies
between organizations. Our goal is to ensure that our charitable
partners have sustainable sources of funding and use their
donors' funds responsibly.
Our grant-makers follow a rigorous process when evaluating
proposals to ensure our funds are invested with the utmost
care and responsibility. We look at whether the charity has
a wide range of support and assess its ability to deliver
programs. We assess the charity's fiscal management and governance
practices, and require that all charities provide audited
financial statements.
Social impact
The RBC Foundation requires, where possible, our charitable
partners to demonstrate the social impact of our contribution,
and to provide details about their goals and gaps they encounter
during the time they receive funding.
RBC is committed to supporting sponsorship opportunities
that are important for our customers and our communities.
As part of this commitment, we sponsor numerous Canadian and
international programs as well as community and cultural events
in the neighbourhoods where we do business.
Targets and performance
We are a founding member of Imagine Canada, which encourages
philanthropy and citizenship, and are committed to donating
at least 1 per cent of pre-tax profits measured on a five-year
rolling average. Click
here for a complete list of donations over $500 given
in 2007.
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