Citing improved performance, a majority of the world's largest companies increased their giving between 2010 and 2013, a report from CECP finds.
Based on a survey of two hundred and sixty-one companies conducted in association with the Conference Board, the 2014 Giving in Numbers Brief found that 64 percent of respondents increased their corporate giving in 2013 from 2010 levels, with the 52 percent of companies that boosted their giving by more than 10 percent reporting a median increase in revenues of 11 percent. The survey also found that the increase in giving was driven in part by a rise in non-cash gifts, including product, pro bono, and other in-kind contributions; and that education — including both K-12 and higher education — was the most popular issue area, followed by health and social services.
In addition, the survey found that 59 percent of companies provided paid-release time volunteer programs for their employees in 2013, up from 51 percent in 2010; that the median number of hours volunteered grew 37 percent; and that 50 percent of respondents offered pro bono service programs, up from 34 percent in 2010. While 76 percent of respondents reported measuring the social impact of their investments and using the data to inform their programs, many indicated they were just beginning to do so.
"As CECP and companies build the business case for investing in solutions to societal challenges, we are very interested in seeing that generous companies are doing well financially," said Michael Stroik, manager of research and analytics at CECP. "Investors, consumers, employees, and other stakeholders are increasingly judging a company’s value by its stake in the community, as the data suggest."