Corporate Philanthropy Recovering from Swoon

Corporate philanthropy is recovering from the economic crisis, according to a report released by The Conference Board on March 31. Fewer companies are cutting what they spend in “community involvement,” efforts. The Conference Board surveyed 114 U.S. companies during December and January, for its report, “The 2010 Philanthropy Agenda: Is the Pressure Easing?”

Companies’ giving agendas are being set according to “business needs, rather than economic concerns.” Although 20% of companies surveyed will reduce their philanthropy budgets in 2010, that’s a vast improvement from the 53% of companies that cut philanthropy budgets for 2009, according to the announcement. Fewer companies are cutting corporate philanthropy staff in 2010–just 4% of companies in the survey plan staff cuts, compared with 18% cutting philanthropy staff in 2009.