What about corporate philanthropy?

Summary:

Corporations donated about $12 billion in 2002 according to 'Inside Corporate Philanthropy.'

Inside Corporate Philanthropy (Vol. 3, No. 10, October 10, 2003 -- see http://www.onPhilanthropy.com) included a review of recent statistics about corporate philanthropy. Some hightlights:
"Corporate philanthropy in 2002 increased by 10.5% over 2001. And that 2001 had even been a better year than 2000. As a result, corporate philanthropy now amounts to over $12 billion, up from $10.7 billion in just three years."

This figure "does not include employee-volunteer release programs, sponsorships, or cause-related marketing. One estimate calculates that the inclusion of unreported or underreported resources transfers would increase the corporate philanthropic total to between $40 and $50 billion."

"The Conference Board's 2000 survey of corporate contributions contains data on type of contribution by industrial type and type of nonprofit outlet.

"First, the 49 companies in the top five industries (pharmaceutical, computers, food/beverages, banking, and telecommunications) in terms of total giving represent only 24% of the companies but 57% of total contributions and a whopping 84% of the value of goods donated.

"Second, These industries together represented 72% of the giving to health care and 56% of the giving to education. Indeed, taken together, health and education garnered between one half and four fifths of all corporate philanthropic resources when organized by industry. This compares to the 20.9% share of national philanthropy reaching health and education in general. "

Author Susan Raymond, Ph.D. is Chief Analyst for onPhilanthropy.com and Managing Director, Research, Evaluation, and Strategic Planning for Changing Our World Inc., a leading US fundraising and philanthropic services company.