Despite Downturn, Companies Expect to Give More
A sagging economy led to corporations giving less to charity in 2003, but many corporate funders expect to donate at the same or higher levels this year, the Chronicle of Philanthropy reported Aug. 5.
A survey of 86 top corporate givers found that median giving was 11 percent less in 2003 than in 2002. But while 56 percent of companies said they would give the same in 2004 as in 2003, 36 percent said they would increase their giving by 3 percent or more.
The trend toward increased giving was especially pronounced among big companies having a long tradition of charitable contributions. Those who planned to give more said the increase was related to an improving economy.
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