This is a review of the 10 US companies that gave the most funds to charity in 2012 (http://philanthropy.com/article/10-Companies-That-Gave-the/140261/)
1. Wells Fargo & Company
Wells Fargo & Company provided $77-million to NeighborWorks America to aid first-time home buyers last year.
How much it gave: $315,845,766 (cash)
Share of 2011 pretax profits donated in 2012: 1.3%
Of note: The company’s cash giving surged 48 percent last year, thanks primarily to the $77-million it granted to NeighborWorks America for the NeighborhoodLIFT program, which provides down-payment assistance to first-time home buyers in neighborhoods most affected by the housing crisis. The company also gave $6.7-million to the Opportunity Finance Network for an awards program, which recognizes innovative nonprofits that provide banking services in low-income communities.
Forecast for 2013: Expects to give less.
2. Walmart Stores
Walmart has given away 1 billion pounds of food since 2010.
How much it gave: $311,607,280 (cash)$755,868,381 (products)
Share of 2011 pretax profits donated in 2012: 4.5%
Of note: The company donated 421 million pounds of food during its latest fiscal year, which ended in February, and it has given away more than one billion pounds since starting a campaign to fight hunger in 2010. Walmart supported 50,000 charities last year, primarily through grants made by local stores.
Forecast for 2013: Expects to give more.
3. Chevron Corporation
Chevron supported the Global Fund to Fight AIDS, Tuberculosis and Malaria.
How much it gave: $262,430,000 (cash)
Share of 2011 pretax profits donated in 2012: 0.6%
Of note: The company last year increased the amount it matches from $5,000 to $10,000 per employee. Its largest grant in 2012 was $11-million to the Niger Delta Partnership Initiative Foundation, as part of a four-year, $25-million commitment to promote economic development and fight poverty in Nigeria.
Forecast for 2013: Expects to give more.
4. Goldman Sachs Group
Goldman Sachs is helping 10,000 women in the developing world start businesses.
How much it gave: $241,278,912 (cash)
Share of 2011 pretax profits donated in 2012: 3.9%
Of note: Started five years ago, the company’s 10,000 Women project to help women start businesses in the developing world will reach its goal this year by helping its 10,000th woman. A $100-million, five-year campaign started in 2008, Goldman Sachs has to date provided 9,300 women around the world with educational opportunities in business and management as well as access to mentors.
Forecast for 2013: Declined to provide.
5. Exxon Mobil Corporation
Exxon Mobil supports the Bernard Harris Summer Science Camp.
How much it gave: $213,374,183 (cash), $2,433,200 (products)
Share of 2011 pretax profits donated in 2012: 0.3%
Of note: Its largest grant in 2012 was $22.1-million to the National Math and Science Initiative, an effort to help young people learn those subjects. Among the five largest grants it made last year is one for almost $3-million to Vital Voices Global Partnership, which supports the Business Women’s Network efforts in Africa, Latin America, and the Middle East. It also awarded $1.8-million to Malaria No More. The funds will be used to expand the nonprofit’s NightWatch program, which now runs in Chad and Cameroon, to Nigeria. The effort broadcasts a public-service message every night to remind people to use their bed nets so they can prevent malaria.
Forecast for 2013: Expects to give the same.
6. JPMorgan Chase & Company
JPMorgan Chase gave $2,180,000 to GAVI Alliance to improve global access to immunizations.
How much it gave: $183,471,434 (cash)
Share of 2011 pretax profits donated in 2012: 0.7%
Forecast for 2013: Expects to give more.
7. Bank of America
Bank of America supported the Food Bank of New York City.
How much it gave: $182,999,588 (cash)
Share of 2011 pretax profits donated in 2012: The company lost money in 2011, so this figure cannot be calculated.
Forecast for 2013: Expects to give the same.
8. GE
GE supported access to healthcare through mobile technology in developing countries.
How much it gave: $161,500,000 (cash)
Share of 2011 pretax profits donated in 2012: 0.8%
Forecast for 2013: Expects to give the same.
9. Target Corporation
Target supported school literacy programs.
How much it gave: $147,038,722 (cash), $76,554,400 (products)
Share of 2011 pretax profits donated in 2012: 5.0%
Forecast for 2013: Declined to provide.
10. Google
Google gave $5-million to the World Wildlife Fund for technology used to deter poaching of endangered species.
How much it gave: $144,606,000 (cash), $1,000,000,000 (products)
Share of 2011 pretax profits donated in 2012: 9.3%
Forecast for 2013: Declined to provide.