Approach
RBC believes in contributing to communities in which we operate,
across North America and around the world.
Cornerstones
Donations and sponsorships are the cornerstones of the RBC
Community Blueprint, our vision for helping create strong
communities. Both donations and sponsorships have a positive
social impact, but they are undertaken with different objectives.
Donations are given as gifts, with no strings attached. On
the other hand, sponsorships are undertaken and deliberately
negotiated for strategic marketing purposes that align with
our brand and business goals and are expected to deliver a
quantifiable return on investment. But there is one common
theme: with both donations and sponsorships, we hope to differentiate
RBC as a leading company committed to enabling the success
of our clients 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 by the Corporate Governance and 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, that our charitable
partners demonstrate the social impact of our contribution
and 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 clients 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 member of Imagine Canada, which encourages philanthropy
and citizenship, and are committed to donating at least 1%
of pre-tax profits measured on a five-year rolling average.
Consult our complete list
of donations over $500 given in 2008.
