Friday, February 22, 2008

Corporate contributions rise

Corporate contributions among 189 major corporations and corporate foundations in the U.S. and abroad amounted to $10.2 billion in 2006, up from $9.8 billion in 2005, the Conference Board reported in a recent survey of corporate giving to worthy causes.

Total U.S. giving among the 189 corporations polled was $7.9 billion, which represents 62 percent of the overall estimated $12.72 billion in corporate charitable giving in the nation in 2006. Median U.S. contributions were $10.7 million, up from $8.7 million in 2005.

Reflecting the increased global reach of business operations, international grantmaking is becoming more significant to large companies, with overseas charitable contributions at $2.3 billion in 2006.

Health and human services continue to be the top-ranking recipient of corporate support in 2006, with education gaining as a beneficiary category for companies. For the first time since 1999, survey participants reported an upturn in the share of U.S. contributions to education, up 7.1 percent from 2005, to 17.8 percent.

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