CECP Releases New Data Report on Trends in Corporate Philanthropy
NEW YORK, November 11, 2009 — Today, the Committee Encouraging Corporate Philanthropy released the 2009 edition of Giving in Numbers, an annual report on corporate giving trends available for free download. Giving in Numbers offers a comprehensive analysis of 2008 corporate contributions drawn from 137 prominent companies, including 55 of the Fortune 100.
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.
This year’s report contains the following special sections:
• Giving and the Economy - investigates the economic impact on total giving and presents the myriad reasons for changes in giving. This section also includes a special look at how financial results affect giving and how philanthropy budgets are set.
• NEW! Comparing Industry Data Sources - examines key findings from Giving USA, The Chronicle of Philanthropy, and the Foundation Center with CECP results to determine where alignment occurs for significant trends.
• Fortune 100 Analysis - details changes in corporate philanthropy programs among America's largest public companies.
• Benchmarking Tables - provide philanthropy statistics by industry, pre-tax profit, revenue, and size of workforce.
• 2008 Findings - highlight the industry’s most-watched giving components, such as pro bono service, matching gifts, volunteerism, international giving, corporate foundation giving, and management and program costs.
According to CECP Executive Director Charles Moore, “CECP’s 2009 Giving in Numbers report illustrates that despite adverse economic conditions, corporations continue to invest in sustainable change solutions. Commitment to measurement and sharing of best practices will be critical as the corporate sector continues to address societal problems in partnership with public and non-profit entities.”
Giving in Numbers is a free, annual public report on corporate giving trends. The 2008 data are based on CECP’s annual Corporate Giving Standard survey of philanthropic initiatives. The Corporate Giving Standard (CGS) is the industry’s top philanthropy measurement tool, containing over $60 billion in the form of cash, foundation cash, and non-cash contributions. The CGS offers participants unprecedented peer benchmarking and year-over-year trend reporting on corporate giving programs. For more information on joining the CGS, please visit www.corporatephilanthropy.org/cgs.
Download a free copy of Giving in Numbers 2009 Edition: www.CorporatePhilanthropy.org.
The Committee Encouraging Corporate Philanthropy (CECP) is the only international network of CEOs and chairpersons actively working to affect positive change through corporate philanthropy. Its mission is to lead the business community in raising the level and quality of corporate philanthropy. CECP’s 170 members include CEOs and chairpersons of the world's largest and most well-regarded corporations from a diverse and broad range of industry sectors.