Most news sources focus on how giving has dropped in all sectors; however, a new report shows that not all giving has declined. A survey by the Committee Encouraging Corporate Philanthropy (CEDP) reported that 53% of companies increased their giving in 2008.
In 2008, 70% of all companies saw their profits fall or declared a loss for the year. Yet surprisingly, companies’ average giving only declined by a slight 7.8%. Of the companies that increased their giving, nearly 35% of them began donating non-cash items, such as employee volunteerism.
CECP mentioned three innovative and non-cash philanthropic programs that occurred this past year.
Western Union’s Our World, Our Family program, which assists education and economic opportunity worldwide, gave in-kind support such as no-cash post-disaster money transfers.
Liquidnet Holdings assisted the Agahozo-Shalom Youth Village in Rwanda which cares for more than 500 orphans from the Rwandan genocide. Since the villlage’s founding in 2006, more than 75% of Liquidnet’s workforce has contributed to this project.
Finally, the Boys & Girls Clubs of America collaborated with the Charles Schwab Foundation on a financial literacy program for teenagers that combined Schwab’s financial resources with the Club’s child expertise.
Peter Shimer, a managing partner at Deloitte Seattle and a board member of the Seattle Foundation, wrote “If our work force is one of corporate America’s most important assets, let’s make it the community’s too.”
As the economy continues to decline, non-cash gifts may become more common. Ministries must be prepared to handle these gifts. For more information on non-giving, donors and ministries alike should visit www.iDonate.com, an organization that allows ministries to receive non-cash gifts online.
Information taken from: John Zorabedian. “Corporate Non-Cash Giving Surged as Profits Fell.” The Daily Tell. <www.thedailytell.com>.
-- Ashley High is a Research Assistant at Christian Foundation Grants (www.christianfoundationgrants.com) which is a subscription database of foundations that provide grants to faith based organizations. iDonate.com is a website (www.iDonate.com) that allows ministries to receive non cash gifts online