By Susan Smith, Staff ReporterCORPORATE JAMAICA could face monetary challenges fulfilling future obligations to charity or gift giving. The Financial Gleaner learnt this from speaking with sources in the business community who offered support to Jamaica's restoration efforts after Hurricane Ivan. Although Hurricane Ivan was not a budgeted event, some members of the corporate community said the funds donated came from their annual benevolent budget.
These hefty donations may later have an impact on companies' ability to give and even their regular Christmas activities. General manager for Grace, Kennedy and Company Limited, Michael Ranglin admits that giving in the future will be impacted. "It will have an effect on our ability to give for any other emergency or charitable cause in the future," he said. "Some of the money used to assist is coming from that budget," he added.
The City of Kingston (COK) has also dipped into its outreach budget to assist its members according to Mrs. Klayo Lewis, public relations specialist for COK.
WAIVED THE REMITTANCE FEES
"What we did for our members was to reduce our rates, set up loans where they could borrow from $5,000 and up at very low interest rates and waived the remittance fees," she informed. "Everything is at a cost and some will come from the outreach budget," she admits. Managing director of Marcia Erskine and Associates, Marcia Erskine says, some companies will curtail their Christmas activities to make up for the money allocated to these donations. "The information I have gathered from some companies is that they are going to forego staff Christmas parties and activities for anniversary," she said. Mrs. Erskine said that some companies will find it difficult to find the additional resources and they will not want to renege on their commitments to these charitable organisations.
Nevertheless, the PR specialist believes that 'Ivan' will not dampen companies' ability to give come Christmas. "I imagine 'Ivan' would have some impact on the budget but, whatever they give to charity at Christmas, the assistance would be brought forward. I don't think they would forfeit on this," explained Mrs. Erskine. "It won't affect our giving for Christmas," says Errol K. Miller, head of corporate communications public relations for Cable and Wireless Jamaica. Spokespersons from Dicigel Jamaica, Cable and Wireless Jamaica Pan Caribbean Financial Services, National Commercial Bank, Texaco Jamaica Limited told Financial Gleaner that their giving would not affect sponsors and donations for Christmas. "We donated $7.5 million to relief efforts" says Monique Todd, marketing and new product manager for Pan Caribbean. "It's an unbudgeted expense.
BUDGET FOR CHARITY
I cannot say what per cent of the yearly budget for charity this is, but I know we will still have our donations and sponsors for Christmas," she assured. "It will not affect our contribution at Christmas. We normally host a feeding programme for children at children's homes along with other ventures,"says Mrs. Sheree Martin, assistant general manager for Corporate Communications for the National Commercial Bank. NCB pledged $100 million to restoration efforts.
