According to a new report from CECP and the Conference Board, almost six out of ten companies surveyed by the two organizations said they had recommitted to their communities by giving more to charity in 2012 than they did in 2007, before the global recession took hold.
Based on data from two hundred and forty companies, including sixty of the largest one hundred companies in the Fortune 500, Giving in Numbers: 2013 Edition (56 pages, PDF) found that corporate contributions, both cash and in-kind, totaled $20 billion in 2012; that companies relied more on non-cash giving than in the past; and that giving by corporations was more focused on specific program areas, especially K-12 and higher education, than in the past.
The report also found that aggregate corporate giving between 2007 and 2012 rose 42 percent ($4.48 billion) in inflation-adjusted dollars; that 38 percent of all companies increased their giving by at least 25 percent over that period; and that among companies which provided non-cash support in 2007, non-cash contributions rose 38 percent on a median percentage basis. Such support included not only product donations but in-kind support such as pro bono service, use of company facilities, intellectual property, and other assets.
"The world's largest companies saw that societal investments were a way to help with recovery, not only for their communities but also for the companies themselves," said CECP's chief executive officer, Daryl Brewster. "Fortune 500 companies know how intertwined they are with the communities around them: healthy companies need healthy communities. Even when times were rough for these companies, they understood that it was part of the path to recovery to continue to stand alongside their community partners."