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June 07, 2013 at 11:57 AM
Large companies increased both cash and noncash giving since 2007, with a higher percentage of noncash contributions in 2012 defining the post-recession giving era, according to a report from the Committee Encouraging Corporate Philanthropy released Tuesday.
CECP analyzed survey responses from 240 companies whose median revenues were $30 billion in 2012. The survey was conducted in association with The Conference Board.
The report showed that total giving increased for 59% of companies from 2007 to 2012, with 38% of all companies increasing their giving by 25% or more.
Aggregate corporate giving rose by 42% ($4.5 billion) from 2007 to 2012 in inflation-adjusted dollars.
Noncash contributions (including product donations and other services) as a percentage of total contributions grew in aggregate from 57% in 2007 to 69% in 2012. Excluding pharmaceutical companies, which accounted for the majority of noncash giving, all other companies increased noncash giving from 28% of total giving in 2007 to 39% in 2012.
“Noncash giving is defining the new corporate societal engagement,” CECP’s CEO, Daryl Brewster, said in a statement. “This has major implications for NGOs all over the world.”
