Corporate grant making is one tool for supporting communities and driving social impact. We spoke with three corporate foundations, COPIC Medical Foundation, IMA Foundation and Get Grounded Foundation of GFM|CenterTable, to understand the approaches of foundations of differing sizes, maturities and focus areas. There are several common themes across the foundations:
- Focus areas address critical community needs while aligning with business strategies
- The review process incorporates many voices.
- Extending engagement with grantees and leveraging your business assets to further support and amplify impact beyond the grant.
Keep reading below for more insights on building your grantmaking strategy.
The Origins and Focus Areas of Corporate Foundations
COPIC Medical Foundation
The COPIC Medical Foundation was established in 1991, inspired by Harold “Hal” Williamson, COPIC’s first external non-physician board member. Hal’s passion for philanthropy led the COPIC Trust Board of Directors to give back to the Colorado health care community. The Foundation’s mission is to improve health care outcomes, with a current goal of enhancing the quality of healthcare delivery by reducing adverse outcomes and supporting innovation.
Today, the Foundation extends its efforts across multiple states. Since its formation, the Foundation has provided more than $12 million to improve patient care and medical outcomes.
IMA Foundation
The IMA Foundation was created 50 years ago, shortly after the incorporation of IMA as a company. As a majority-owned employee business, the Foundation represents the passions of IMA associates, allowing for strategic contributions to the communities in which they live and work. The IMA Foundation focuses on advancing youth through education, mental health, arts and culture, food insecurity, and homelessness. These focus areas evolved after extensive research and surveys, reflecting the changing needs of the community.
Get Grounded Foundation
GFM|CenterTable, formerly GroundFloor Media and CenterTable, started with a strong commitment to the community. In 2015, this commitment was formalized with the establishment of the Get Grounded Foundation, a 501(c)(3) providing community grants for programs supporting youth development in the Denver metro and Boulder areas. The Foundation’s key focus areas are child abuse and neglect prevention, youth mental health, and childhood food insecurity. These areas were selected based on team members’ passions, community challenges, and the potential for significant positive impact.
Managing Foundations and the Grantmaking Process
COPIC Medical Foundation
Managing a foundation like COPIC Medical Foundation involves navigating legal and tax requirements and having a well-informed Board of Directors, knowledgeable legal counsel, and financial advisors. The Foundation employs a strategic responsive grantmaking approach. Each fall, an RFP is publicly shared, with proposals due in January. Proposals are evaluated over three rounds using an evaluation matrix and scoring rubric. Intentionally, the Foundation selects a small number of one-time grantees each year, with grants ranging from $100,000 to $200,000, ensuring hands-on partnership for the year.
IMA Foundation
The IMA Foundation has two grant cycles annually—spring and fall. The public application process, managed through Blackbaud, begins with an Eligibility Quiz. Successful applicants proceed to the full application. Local market committees review hundreds of applications and make recommendations to the board of trustees, which meets in May and November to approve funding. The Foundation ensures alignment with business investments and adheres to compliance requirements to avoid self-dealing laws.
Get Grounded Foundation
The Get Grounded Foundation’s annual grantmaking process begins with a public online nomination platform opening in mid-June, with applications due in October. A 14-person volunteer review committee assesses proposals, which undergo final review by the leadership team before announcing recipients in November. The Foundation maintains flexibility within its strategy, allowing adaptation to evolving needs.
Engaging with Grantees
COPIC Medical Foundation
COPIC Medical Foundation values its relationships with both grantees and grant applicants. Following each grant application cycle, applicants can schedule follow-up calls to discuss proposals and reviewer comments. For grantees, the grant marks the start of a long-term partnership, including invitations to the annual Grantee Summit, features on COPIC’s podcast “Within Normal Limits,” and on-site visits by Foundation staff. Grantees submit annual and follow-up reports to track progress.
IMA Foundation
The IMA Foundation encourages local markets to coordinate volunteer activities with grant partners and hosts Foundation Partner Receptions to celebrate recent grantees. They strategically place associates on boards and request impact reports 12 months after grants are awarded to ensure continued engagement and support.
Get Grounded Foundation
The Get Grounded Foundation fosters meaningful relationships with grantees beyond financial support. They leverage media relations and social media to promote grantees and produce white-labeled videos for standout projects. Collaborating with the Colorado Nonprofit Association on marketing seminars and simplifying grant reporting requirements ensures grantees can focus on their impactful work.
Navigating Growth and Challenges
COPIC Medical Foundation
COPIC Medical Foundation devotes one of its quarterly board meetings to board member education and strategic conversations. As a small and nimble organization, the Foundation can pivot plans and evaluate approaches continuously. The Foundation is committed to being guided by data and metrics to inform decision-making.
IMA Foundation
IMA has experienced tremendous growth over the past five years, and the IMA Foundation has adapted to meet the growing needs of its communities. They are working with a consultant on a strategic plan to navigate challenges related to this growth.
Get Grounded Foundation
The Get Grounded Foundation actively fosters an environment that encourages innovation among grantees. The Foundation team identifies and addresses potential risks for grantees using their expertise in crisis and reputation management, staying abreast of emerging trends to support continuous improvement.
Where do you think grantmaking is headed next?
“When thinking about where the grantmaking space is heading next, it is my hope that the granting space continues to evolve in a way that elevates the partnership and relationships between funders and grantees. As all partners are working for the greater good in mission-driven organizations, the key to making the biggest impact is mission alignment and true partnership.”
-Meredith Hintze, Executive Director, COPIC Medical Foundation and Director, Corporate Social Responsibility, COPIC
What best practices would you share?
- Capacity Building: Support initiatives that strengthen grantees’ ability to achieve sustainable outcomes, such as training, networking, and marketing support.
- Risk Management: Identify and plan for potential risks to safeguard your foundation’s assets and reputation, including financial, legal, reputational, and project-specific risks.
- Stakeholder Engagement: Engage with stakeholders, including grantees, community members, and other funders, to build collaboration and ensure responsiveness to local needs and trends.
-Amy Moynihan, Vice President, GFM|CenterTable; Laura Love, Founding Partner, GFM|CenterTable
Corporate grant making is evolving, with foundations like COPIC Medical Foundation, IMA Foundation, and Get Grounded Foundation leading the way through strategic focus, innovative approaches, and strong community partnerships. Their experiences provide valuable insights for others in the corporate grantmaking space. If you have unique impact approaches, expertise, or best practices in CSR, DEI, or ESG, reach out to us at info@bcivic.org, we would like to share your story!
Thank you to our contributors:
- Meredith Hintze, Executive Director, COPIC Medical Foundation & Director, Corporate Social Responsibility, COPIC
- Amy Moynihan, Vice President, GFM|CenterTable
- Laura Love, Founding Partner, GFM|CenterTable
- Mikaela Gibson, Community Relations & Communications Specialist, IMA
- Kynnie Martin, CSR Specialist, IMA
- Ruth Rohs, SVP Corporate Communications & Executive Director, IMA Foundation