31 Jan. 2014 | Comments (0)
Corporate philanthropy now supports Education (K-12 and Higher Education) more than any other program area, according to the 2013 edition of Giving in Numbers, a report by CECP in association with The Conference Board. On average, companies allocated 29 percent of charitable contributions to Education in 2012, compared with 26 percent in 2011. This is the first time that Education has topped the list since the report began in 2006.
Health and Human Services placed a close second, receiving on average 28 percent of allocations. Companies based outside of the United States tended to prioritize K-12 support over Higher Education more than firms headquartered inside the United States, although all companies donated a larger percentage to K-12 Education than Higher Education.
Why it matters
- Companies that focus their giving on Education are increasingly highlighting the importance of the “pipeline” from education to workforce and their desire to boost the talent pool available to them in the future.
- Most companies target multiple program areas with varying levels of funding. Companies tend to balance consumer input, leadership discretion, employee interest, internal resources and expertise, historical partnerships, and community need to identify program areas to support.
For more information, download Giving in Numbers: 2013 Edition at www.conference-board.org/gin2013 or contact Matteo Tonello at email@example.com. 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.