GROCO DISCOVERS THE BEST WAY TO GIVE COMMUNITY SERVICE… OFTEN!

FREMONT, Calif. – The economy has left many people, and the nonprofit organizations they rely on, in crisis. As a result, community service is more critical than ever.

Alan L. Olsen, managing partner of CPA firm Greenstein Rogoff Olsen & Co (GROCO), recently named a Bay Area Top 25 CPA firm by San Francisco Business Times, was asked his opinion.  He stated, “More than anything, what our country, communities and families require are everyday folks who can rise above their own circumstances to give back to the community. In doing so, they become true leaders; exactly what we need right now.”

Giving money or one’s time back to the community is more than just a nice thing to do. There are many tangible financial benefits to businesses that encourage volunteerism. Consider the following:

1. Companies engaged in social responsibility had a 10-year positive return on equity that was 10 percent higher than their counterparts and a 10-year relative return to shareholders that was 65 percent higher. (Source: Graves & Walker)

2. At large companies, 84 percent of executives say corporate citizenship contributes to the bottom line. (Source: Center for Corporate Citizenship at Boston College)

3. When price and quality are similar, 86 percent of Americans say they are likely to buy a brand associated with a social/community cause. (Source: Cone Corporate Citizenship Study)

4. Employees’ perception of a company’s corporate citizenship affects employee morale, spirit and pride, trust in their employer, and a willingness to recommend their employer as a good place to work (Source: GolinHarris survey)

5. 81 percent of Americans take into consideration a company’s commitment to a social issue when deciding where to work. (Source: Cone Corporate Citizenship Study)

6. Employees who work for organizations involved in the community are more likely to be engaged at work and stay with the company. (Source: Walker Information)

7. Volunteers agree that the experience improves motivation and enhances decision-making, problem-solving, teamwork, negotiating, and delegation skills. (Source: Deloitte Volunteer IMPACT, Opinion Research Corporation)

Walking the talk, GROCO and its employees enjoy a corporate culture that emphasizes giving back. Even during the grueling demands of tax season they find time to sponsor, participate in, and provide pro bono services for numerous worthwhile causes. As a result, GROCO revenues continue to achieve an astonishing double-digit growth due in part to developing a reputation for being a strong and generous community champion.  “You do the right thing and everybody wins,” Olsen explains. “It’s a no-brainer.” Examples of recent community events in which GROCO participated (even during tax season!) include:

• “Book Buck$,” a literacy program benefitting more than 37,000 local students
• “Ducks for Bucks Benefit Race,” which raises funds for local charities
• Leadership Fremont, a development course that includes a service project
• “Stamp Out Hunger” an annual food drive

“To become an Eagle Scout I had to implement a community service project. I have been involved almost continuously with all kinds of volunteer activities ever since,” says Olsen, who serves on several boards and is spearheading a $1 million fundraising campaign for the Northern California Boy Scouts of America. “In these economic times, it’s more important than ever. I know that civic engagement is rarely easy or convenient but, to me, it is both rewarding and the obvious solution to many community problems.”