CECP Releases New Data Report on Trends in Corporate Philanthropy
High level findings include:
• A majority of companies surveyed increased giving from 2007 to 2008 despite 68% experiencing profit declines.
• Non-cash giving surged among companies that increased giving.
• Strong profits through the third quarter, beyond-budget disaster-relief giving, and improved contributions tracking were among reasons given for increased giving.
• Poll results show that CEOs and giving officers are devoted to fulfilling pre-existing commitments to grantees while working to more closely integrate philanthropic strategy with company-wide business objectives.
• Despite sustaining greater profit declines that their non-Fortune 100 peers, 60% of Fortune 100 companies increased giving from 2007 to 2008.
• Pro bono service projects at CECP member companies such as Deloitte LLP, Capital One Financial Corporation, Target Corporation and Gap Inc., exemplify how pro bono service can complement and extend current community investment strategies.
• Corporate giving is increasingly reported as becoming more proactive and strategic, signifying a closer alignment between a company’s competitive strengths and the focus area of the recipient organization.