Soundbites
Corporate giving defies economy Last year, before the recent meltdown, philanthropy by large companies appeared to fly in the face of an uncertain economy. From 2006 to 2007, giving by large multinational corporations rose 5.6 percent, with two-thirds of them increasing their giving, according to the Committee Encouraging Corporate Philanthropy (CECP). More than half (56 percent)
of companies that reported lower profits still increased
their giving, as did most of the companies that suffered losses. “The weakening economy did not seem to play a significant role for most companies’ giving in 2007,” the report said. In addition, 89 percent of CEOs agreed with the statement, “Companies should have mechanisms in place (eg., cash reserves or endowed
The scent of serving “God loves the smell of our sweat. I know that’s a strange thought, and please keep using deodorant, but I think it’s true.... God loves the sound of our voices when we are singing praises to him. But I
also think he loves the smell of our sweat when we are serving him. Service is how we love God with all of our strength.” — Mark Batterson, pastor, National Community Church, Washington, D.C.
The Marketplace November December 2008
22
foundations) to sustain contributions during periods of weak financial performance.” “Historically, companies have made strong commitments to respond during periods of higher unemployment and elevated community need,” says Charles Moore, CECP executive director. “In addition to sustained cash contributions, companies have also become more creative at better identifying and leveraging resources such as in-kind product donations and employee pro bono service to greater benefit community partners.” Time will tell if last year’s trend holds true during the current economic crisis. (CRO magazine)
