President Obama today encouraged corporate executives and the companies they run to continue their philanthropic giving.
“Today’s challenges demand solutions that come not only from government, but also from entrepreneurs and business leaders around the world,” said Mr. Obama in a letter to the Committee Encouraging Corporate Philanthropy. “Through their skills, ingenuity, financial support, and dedication, corporate philanthropists and their employees have answered the call to serve, giving back in meaningful ways that help those in need.”
The president sent the short letter to mark International Corporate Philanthropy Day, which is meant to promote giving by businesses. As part of the day’s events, the committee is gathering 50 chief executives from big companies, including Alcoa and General Mills, to discuss the future of corporate philanthropy. The committee has been conducting an ongoing study into what business giving will be like during the next 10 years or so.
In addition, the New York-based committee released a report, “Measuring the Value of Corporate Philanthropy: Social Impact, Business Benefits, and Investor Returns.”
Among its topics, the report looks at how more companies are trying to evaluate the effectiveness of their philanthropic efforts and asking the charities they support to show results.