With all the chatter about the ups and downs of charitable giving during the down economy, it’s refreshing to hear some definitive - and positive - news. According to the 2009 Giving in Numbers Report, released this week by the Committee Encouraging Corporate Philanthropy (CECP), corporate giving was actually up during 2007-2008, despite worries that corporations would back down from charitable commitments as the economic turmoil raged in the second half of the year. What’s more, the data show that companies got creative when the economy started to sink, opting for pro bono work and skills-based volunteerism instead of simply backing down from their social commitments. In fact, the Wall Street Journal this week profiled how four chief executives at leading companies are rethinking their philanthropic strategies.
Other key findings from the CECP report include:
A majority (51%) of companies surveyed increased giving from 2007 to 2008 despite 68 percent experiencing profit declines
Among Fortune 100 companies, who experienced greater-than-average profit declines, 60 percent increased giving from 2007 to 2008
Of companies surveyed, a full 91 percent report having an employee matching-gift program
Ninety-four percent of survey respondents have at least one formal domestic volunteerism program and 49 percent of respondents have at least one formal international volunteer program
The median number of pro bono time donated was 1,080 hours by companies that reported having such programs
Consistent with past years, 86 percent of companies report having a corporate foundation
To download the full report for free, visit CECP’s Web site.