Thanks to the Fort Worth Business Press for this important article on a timely topic:
Corporate philanthropic partners still needed
Fort Worth Business Press
Corporate America has long supported American philanthropy. Touchstone dates range from 1936, when corporations contributed $30 million (before taxes) to charitable organizations; through World War II ($266 million in 1945); through the recession of the 1970s ($1.25 billion in 1974); and eight up to last year’s $15.69 billion (5.1 percent of total giving in the United States).
Now it’s crunch time in the business world for philanthropy. The Wall Street Journal reported in November that economic turmoil is tightening charitable support from corporate coffers. Vanishing investments, job cuts and lower profits mean that corporate giving stands to decrease. This condition applies from Wall Street to Main Street to Our Town and affects the nation’s 2,646 company-sponsored foundations and 1,384 corporate-giving programs, including at least 200 in Texas.
In this tough financial climate, how can corporations give more effectively through their support in partnership with nonprofit organizations?
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