Corporate Charitable Contributions Continue to Rise

Corporate Charitable Contributions Continue to Rise: "Corporate Charitable Contributions Continue to Rise

By: SmartPros Editorial Staff

Oct. 13, 2004 (SmartPros) � Despite a less than stellar employment situation and the war in Iraq, total U.S. contributions to worthy causes have increased by 24 percent among the country's largest corporations and foundations, The Conference Board reports in its annual survey of corporate giving to worthy causes.*
Among the 232 survey participants, 58 percent (134 companies and corporate foundations) participated in both the 2002 and 2003 editions of the study. These matched cases, representing 65 percent and 58 percent of the survey participants in 2002 and 2003, provide the most accurate analysis of year-to-year trends in U.S. giving.
In the matched sample, total U.S. giving among companies and corporate foundations rose from approximately $3.13 billion in 2002 to $3.88 billion in 2003, representing a growth of 24 percent. Median matched-case U.S. contributions amounted to $7.4 million, compared to $6.6 million in 2002, an increase of 12.88 percent. Average U.S. giving among these matched cases increased by 24 percent from $23.35 million in 2002 to $28.97 million in 2003."