Charitable giving by America’s biggest companies will probably be flat in 2011, after a sharp rebound in 2010, according to a Chronicle of Philanthropy survey of 180 of businesses.
Cash giving rose by 13 percent, a relief to charities after the recession caused a decline of 7.5 percent by companies in 2009.
Seventy-four of the 107 companies from the Fortune 500 that provided projections said they expect this year’s giving to remain about the same as last year’s. Twenty-seven expect total giving to increase, while six expect a decrease.
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April 27, 2010
From News
April 27, 2010, Chronicle of Philanthropy — Many companies are in the midst of transformation in the way they think about creating social good -- and are interested in finding models in which they can simultaneously improve the world and their bottom line, participants in a session for corporate grant makers said today.
In a talk at the annual Council on Foundations conference, Kyle Peterson, managing director of FSG Social Impact Advisors, said that businesses have moved in the last 10 years from ignoring or understating problems to wanting to solve them and believing that doing so can be beneficial to their companies.
"What we're looking at now is how to move toward more shared value," Mr. Peterson said.
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