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The economic downturn occurred late enough in 2008 that it did not significantly affect overall giving levels for the year, but experts say the recession will be felt much more acutely in corporate giving in 2009, PNN Online reported March 4.
New research shows that 45 percent of companies have already reduced their giving levels and another 16 percent are considering doing so. The reductions come despite acknowledgment that one of the biggest challenges facing corporate givers this year is an increase in the number of grant requests.
Releasing its annual report on corporate philanthropy trends, The Conference Board noted that limits on budgetary resources, the current economic downturn in general, aligning giving more closely with business needs, and directions from the company CEO and/or board are among the leading considerations as firms plan their charitable giving for 2009.
“How their companies are faring overall financially is very much on the minds of leading U.S. companies when allotting their corporate philanthropy monies,” said Carolyn Cavicchio, a researcher at The Conference Board.
“There is a definite shift toward more critical business issues and an increased emphasis on measuring giving outcomes.”
One bit of good news: 45 percent of companies expect volunteerism to increase.
The report, The 2009 Corporate Philanthropy Agenda: How the Economic Downturn is Affecting Corporate Giving, was based on a February 2009 survey of 158 companies.
Published
April 2009