After Sharp Rebound, Corporate Giving to Hold Steady in 2011, Survey Finds

After Sharp Rebound, Corporate Giving to Hold Steady in 2011, Survey Finds

While a number of the nation's largest companies upped their cash and in-kind donations in 2010, most expect their giving to remain flat in 2011, USA Today reports.

According to a new Chronicle of Philanthropy/USA Today survey, cash donations rose 13 percent, to about $4.9 billion, in 2010. When combined with the value of in-kind donations, total giving rose nearly 20 percent. Despite the sharp rebound, 74 of the 107 survey respondents said they expect their 2011 giving to be about the same as last year, while 27 said they expect it to increase and six said it would decline.

Once again, Walmart topped the list of cash contributors, awarding some $319.5 million, followed by Goldman Sachs ($315.4 million), and Wells Fargo ($219 million). Drug maker Pfizer ranked highest in terms of combined cash and product contributions, donating some $3 billion in total, ahead of Oracle ($2.3 billion) and Merck ($1.1 billion).

The survey also found that international giving by fifty-eight companies rose more than 20 percent year-over-year, to $3.8 billion, and that Citigroup, which accepted multiple government bailouts in 2008, saw its giving increase nearly 16 percent. "Citi and the rest of the financial industry are doing better," said Citi Foundation president Pamela Flaherty. "We're feeling good about where we are and even better about the future."

Marisa Lopez-Rivera. "Big Companies Beefed Up Their Charitable Giving Last Year." USA Today 07/25/2011.