Businesses Rethink Their Philanthropy, Report Says

As more and more companies seek ways to cut spending, they are redesigning their grant programs to make them more worthwhile financially, according to a new report by the Conference Board.

More than 80 per cent of the 130 companies surveyed had slashed budgets, laid off employees, or undergone some other change within the last three years that had led to a restructuring of their corporate-giving programs, according to the Conference Board, which studies corporate matters.

To justify their corporate giving, the companies said they are tying their philanthropic work more closely to the business they do. For example, companies that are trying to increase sales overseas are putting more philanthropic dollars into foreign charities in order to enhance their images abroad.

Copies of “The Corporate Contributions Plan: From Strategy to Budget” can be ordered from Customer Service, the Conference Board, 845 Third Avenue, New York 10022; (212) 339-0345; World-Wide Web: http://www.conference-board.org. The cost is $30 for members, $120 for non-members, and $10 for people at colleges and universities.