Corporate Donors and Executives Slow Their Giving

November 25, 2008

Corporate Donors and Executives Slow Their Giving

Corporations and their executives who traditionally have supported charities are slowing down giving this year, reports The Wall Street Journal.

Bear Stearns Companies, Lehman Brothers, and Merrill Lynch are among the companies that used to be big donors — and now have folded or been bought.

And many executives are holding back because of business woes.

For example, David Koch, an executive vice president of Koch Industries, an energy and manufacturing company in Wichita, Kan., and the largest private corporation in the United States, said he is turning away solicitations for new gifts because he expects earnings from his company to sink 50 percent this year. (See The Chronicle’s profile of Mr. Koch.)

(A paid subscription is required to view the Wall Street Journal article, and a paid subscription or short-term pass is required to view the Chronicle article.)

Comments

It’s not about the corporate gifts. Billionaires and multi millionaires need to step it up personally in this country when 90% of the wealth is controlled by 1% of the population. Greed in this country is amazing. So is the generosity of those that really get it.

— Gary Nov 25, 03:19 PM #
Mine is not exactly on this topic, but just related. Where can a foreigner like me ( a Ugandan) access educational sponsorhip for MBA. In october this year I was admitted to LSBF for a 3-module MBA costing £4,500. I have tried several foundations and individuals in UK & US etc; but I have got no positive response so far. Can any one assist me in this?

— Peter Kabanda Nov 26, 02:00 AM #

Commenting is closed for this article.

Previous: Congressman's Fund-Raising and Political Activities Examined
Next: Federal Jury Convicts Muslim Charity and Employees of Terrorism Charges