17 Jan. 2014 | Comments (0)
Philanthropic contributions by U.S. companies continued to grow in 2012, according to Giving in Numbers: 2013 Edition, a report from CECP in association with The Conference Board. The study finds that corporate giving of cash and in-kind donations totaled $20.3 billion in 2012, compared with $19.9 billion in last year’s sample.
The average company provides most of its giving in cash from corporate budgets and its corporate foundation, with other contributions provided in the form of noncash resources, such as products and pro-bono service.
Why it matters
- Corporate philanthropy has returned to prerecession levels. In 2012, the majority of companies contributed more than they did in 2007. Since the economy began to recover in late 2009, companies have become more strategic in their support of community partners.
- As companies increase the noncash contributions they make to their communities, employee volunteering programs have become more popular. Paid-Release-Time volunteering programs, which allow employees to volunteer with a charitable organization during normal paid work schedules, were the most successful of these volunteering programs in 2012.
For more information, download Giving in Numbers: 2013 Edition at www.conference-board.org/gin2013 or contact Matteo Tonello at firstname.lastname@example.org. Chart of the Week is a series that highlights key findings from our portfolio of benchmarking research on corporate governance, proxy voting, corporate sustainability, and citizenship.