Corporate giving expected to drop in 2009
Corporate giving is expected to drop precipitously in 2009, a new survey says, with about half of those surveyed saying their company has implemented a reduction in philanthropic giving and another 16 percent considering it.
The survey, released Tuesday by the 
Conference Board , found 56 percent saying limits on budgetary resources was the reason for cuts.
Other factors taken into consideration when giving officers plan their 2009 contributions agenda:
- The economic downturn in general (50 percent)
- Aligning more closely with business needs (47 percent)
- Directions from the CEO and/or board (46 percent)
"There is a definite shift toward more critical business issues and an increased emphasis on measuring giving outcomes," Carolyn Cavicchio, the Conference Board’s senior research associate for global corporate citizenship car loan interest rates.
Thirty-five percent said that they would make fewer grants in 2009, and 22 percent are considering doing the same. Twenty-one percent said they would make smaller grants, and 27 percent were considering doing so, according to the report.
Event sponsorship will see the biggest decrease, with resources falling for 55 percent of those surveyed. However, 45 percent said volunteerism will increase.
Thirty-four percent said they will cut giving to arts and culture. Workforce development was close behind at 32 percent. Environment/sustainability/climate change will see the biggest increase (40 percent).
The report, “The 2009 Corporate Philanthropy Agenda: How the Economic Downturn is Affecting Corporate Giving,” was based on a February survey of 158 companies on planned changes in corporate giving programs.
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