Half of big companies gave more to charity in cash and products last year than they did in 2007, just before the recession took hold, according to a report released today by the Committee Encouraging Corporate Philanthropy.
However, not all companies are increasing their giving: One-fifth of companies last year decreased their giving by at least 25 percent of the sum they gave away before the recession started. [Editor's note: The previous sentence corrects a factual error that previously appeared in this item.]
The study, “Giving in Numbers,” examined 184 companies. The Committee Encouraging Corporate Philanthropy represents company chief executives and grant makers.
The situation for cash giving was not nearly as rosy as overall donations, the report found. More than half of the companies surveyed gave less cash in 2010 than they did in 2007, and 42 percent reduced cash giving by 10 percent or more. Companies that increased their cash giving last year said the primary reason was to support earthquake-relief efforts in Haiti.