Tallying around 4.8 billion in total funds, companies in both finance and healthcare have given away money to a long list of charitable organizations and causes. The Chronicle of Philanthropy reports that the corporate donation output has increased two percent from the 2014 year, further indicating that this number will only be expected to increase in the coming years.
The Chronicle of Philanthropy has paired heavy data with public reporting to aggregate numbers to determine the top charity giving companies within the last year.
This organization thoroughly analyzed the country’s 150 largest public companies/ fortune 500 companies within the last year. During this data-driven process, the Chronicle of Philanthropy reviewed public financial documents filed with the Internal Revenue Service, Securities and Exchange Commission and public reports of the company’s outward finances. Its extensive database consists of 68 companies in the 2015 year.
This comprehensive report includes data aggregated from pretax income, total cash giving, donated products, and grant making. Amidst all these cases, there were only four cases that pointed to a untracked donations. These figures take domestic figures, along with international giving patterns into account.
The top charitable giving company on the Chronicle of Philanthropy’s list is Pfizer, who gave 93.3 million in cash and the rest consisting of services, products. It is clear that Pfizer was a leading force in increasing the overall corporate charitable output, with the company’s philanthropic engagement rate raising forty-four percent.
A close runner up to Pfizer is Gilead Sciences, which is a biopharmaceutical company based out of California. Gilead Sciences gave over 2.3 billion dollars, indicating a little over a hundred percent increase over its charitable giving rate of the previous year.
Merck & co., the well-known healthcare firm has donated close to 2 billion last year, with 133 million in the form of cash. Similar to Pfizer, a portion of the company’s donations was given in cash, along with other givings. The data compiled in this report points to product giving at market value and areas such as volunteer or fundraising is not included in this total amount.
Paying close attention to companies that maintain solid corporate social responsibility programs is also important when also thinking about making a career related move. How a company is aligned with their CSR programs can also appeal to employees in the workforce navigating the market.