The Role of Wealthy Individuals in Community Development

As a retired CEO and founder of a diverse family of over three dozen companies, I have had the privilege of contributing to the development of various communities. In my experience, the integration of businesses into a new community often involves significant financial investments tailored to the specific needs of that community. These efforts go beyond mere economic contributions and aim to foster a strong sense of corporate citizenship. This article explores how wealthy individuals can meaningfully engage in and contribute to community development.

Economic Investment and Employee Benefits

One of the primary ways we make an impact in a new community is through initial economic investments. Upon entering a new home, our company frequently allocates substantial resources to meet the unique needs of the community. This investment goes beyond the conventional economic contributions made through payroll and extends to various initiatives designed to enhance the quality of life for community members.

A sometimes overlooked yet significant aspect of our approach is our commitment to employee welfare. Prior to making these investments, I often hear from employees that they are paying too much for health insurance. At our company, we address this concern by providing comprehensive health insurance coverage with no premiums, co-pays, deductibles, or maximum out-of-pocket expenses. This arrangement significantly boosts each employee's disposable income, allowing them to better contribute to their families and community. Moreover, all pre-existing conditions are fully covered, ensuring a healthy and inclusive workforce.

Investment in Community Facilities and Programs

In addition to economic investments, our company seeks to partner with and support local schools and community organizations. This cooperation can take various forms, such as funding improvements to athletic facilities, sponsoring yearbooks, and providing financial support for extracurricular activities. For example, we have invested in the development of athletic fields, supporting the construction and maintenance of state-of-the-art facilities that enhance physical education programs and promote active lifestyles among students.

Another critical area of focus is the school's yearbook program. We understand the value of these publications in documenting the growth and achievements of students over the years. By sponsoring yearbooks, we help capture these important moments and ensure that a lasting record is preserved for future generations.

Furthermore, we provide funding for less glamorous but equally important initiatives such as drama departments, PTA transportation to and from away games, and event support. These efforts contribute to a well-rounded and engaging educational experience, fostering creativity, teamwork, and a strong sense of community among students and parents alike.

Become a Valued Corporate Citizen

The ultimate goal of our community involvement is to establish ourselves as a valued corporate citizen. This broader citizenship includes an ongoing commitment to the economic, cultural, and social well-being of the community. It goes beyond the immediate economic benefits and focuses on creating sustainable and meaningful relationships with local stakeholders.

Our approach is not just about financial contributions but also about understanding and addressing the specific needs and aspirations of the community. By engaging in such initiatives, we help to build a stronger, more resilient, and more vibrant community. This is achieved through a combination of philanthropic efforts, community partnerships, and transparent communication with local leaders and residents.

Being a valuable corporate citizen means being responsive to the community's needs and providing continuous support in areas such as education, health, and community events. It also involves being a good neighbor, respecting local traditions, and collaborating with local businesses and organizations to enhance the overall quality of life for all residents.

Ultimately, the journey of community development is a long-term commitment that requires patience, dedication, and a willingness to adapt to the evolving needs of the community. By striving to become a valued corporate citizen, we can ensure that our contributions have a lasting and positive impact on the community we serve.