Corporate social responsibility initiatives are increasing in popularity. In fact, a staggering 90% of companieson the S&P 500 published a CSR report in 2019. Companies pledge to give back to the economy, environment, and society through CSR initiatives.
Since 2008, the real estate development company Quattro Development has invested heavily in charity and philanthropy. Co-founders Rob Walters and Michael Liyeos don’t believe CSR should be a mandate, but they do believe that executives have a personal responsibility to make the world a better place.
“In my mind, if you have significantly more than you need and there’s people around the world who have significantly less than they need, to at least be empathetic and compassionate in looking out for ways to help those who don’t have as much,” Rob Walters says.
Walters and Liyeos share their perspective on CSR, Quattro Development’s philanthropic efforts, and how CSR can have a positive impact on business.
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Rob Walters and Michael Liyeos’ Perspective on Corporate Social Responsibility
Corporate social responsibility is a hot-button issue for businesses, consumers, and investors. In fact, 70% of consumers say they’d be more loyal to companies with CSR initiatives than those without CSR programs. These initiatives can range from employee volunteering and recycling to diversity, equity, inclusion, and belonging programs.
While many businesses embrace CSR at least in part for the marketing benefits or to appease their customers, Quattro Development takes a different approach. Instead of placing the onus of giving back solely on businesses, Walters and Liyeos believe that every individual has a personal responsibility to give back.
“I don’t think there’s any obligation for any company to donate, but I think Rob and I have decided, ‘Hey look, if we can lead by example and make contributions to people in need, we’d like to do that,’” Michael Liyeos explains. “Personally, I think there is a responsibility.”
While American philanthropy declined slightly — by 3.4% — from 2021 to 2022, 86% of affluent homesmaintained or increased charitable giving. Although business owners should also consider giving back through their businesses, Walters and Liyeos believe donations at an individual level have the power to effect greater change.
Quattro Development’s Personalized Approach to Philanthropy
Big businesses often do massive donation drives for large nonprofits. While this can certainly do a lot of good, Quattro Development is a small business that gives back on a more personal level.
“I think the way that we donate is more personal than the way that maybe larger corporations donate. I think we try to contribute to causes and people that we know personally as opposed to a big entity like the Red Cross,” Michael Liyeos explains. “Rob and I have always tried to do what we can to help causes or people that we think are deserving of help that might not get it from other places. We want to help any worthwhile cause, but specifically people that we know personally.”
Rob Walters always had a philanthropic itch. “Rob started an entity called First Chance, which was set up to send disadvantaged high school students to foreign countries. This afforded these students the opportunity to get a different experience than what they see everyday living at home and broaden their horizons and maybe give them hope and an idea of what they could do with their lives in the future,” Liyeos states.
“I spent half my honeymoon in Prague with some kids from the west side of Chicago that I had met at a YMCA where I did a Big Brothers type program,” Walters adds.
Quattro Development also contributed to Michael Liyeos’ son’s baseball team. The team had a chance to participate in a tournament in Cooperstown, NY which required some significant travel expenses. “We had a team where some families could afford it, others couldn’t. So as a team we decided, ‘Hey, how could we fundraise to make sure everybody could go?’” he says. After careful planning, Liyeos and Walters agreed to pay the fees for each team member. In exchange, the boys agreed to serve meals at least six times at a homeless shelter.
“I think it was a good way to not just cut a check and be done with it, but get kids involved that might not do charity work. They got to see what life is like for people that they don’t typically see, or maybe they see them on a street corner and don’t know much about them. But when you serve food to them and then sit down and enjoy that meal with them, you get to know them. Very quickly you realize that for as different as we all may seem to each other, we have a lot in common. We all want to connect with other people, and nourish our bodies and minds. It’s very fulfilling to connect with others on this level.” Liyeos says.
For the Quattro Development co-founders, it’s gratifying to see their company’s dollars going to such worthy causes. “I think the kids learned a lot from the experience, and that’s the kind of personal touch that I think we’re looking for when we’re getting involved in a charitable endeavor,” Liyeos adds.
“When you have that kind of personal touch, it can impact people in more than just the way of the money. I think it ends up impacting yourself and just seeing the power in being generous,” Walters adds.
Merging Business and Benevolence With Personalized CSR
Corporate social responsibility is rising, although Rob Walters and Michael Liyeos believe personal donations and charitable engagement should increase, too. Giving back certainly puts Quattro Development in the spotlight, but the co-founders believe CSR is simply the right thing to do — and that good karma will eventually reap dividends for their business. “Good things will come around when you’re a decent human being to other people,” Walters says.
