Wednesday, June 7th, 2006 | 11:38 am | Administrator

Corporate philanthropy up

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A Reuters wire story indicates that philanthropy amongst America’s largest corporations was up in 2005.

Citing a survey of 91 of the largest U.S. firms by the Committee to Encourage Corporate Philanthropy, corporate philanthropy was up 14% in 2005 over 2004. This is close to the reported 15% increase in pre-tax profits from many of the same companies responding to this survey. Employee giving was also reported to have increased from $670 to $685 per employee in the same period.

The surveyed corporations indicated a combined $10 billion in philanthropic giving last year. A sure $300 million of that went toward relief efforts in the Gulf Coast.

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