Corporate Giving in Context.Charitable giving takes many forms. Most gifts, nearly 85%, come from individuals. Foundations and corporations, however, are not only significant sources of charitable support, but they have influence beyond their means due to their scope and continuity. Foundations and corporations bring years of experience and expert, full-time professional staff to their grantmaking, enabling them to better set and pursue strategic objectives and set agendas for the communities they serve. Private Foundations, like the Keck Foundation being honored as the 1999 Outstanding Private Foundation, are private institutions whose assets have come primarily from one or a few sources, typically one family, and are characterized by the perspectives and goals set initially by the founders. While there are many excellent private foundations in California, southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, in particular has suffered some neglect on the part of large private foundations, most of which are located east of the Mississippi. In recent years, however, private foundations based in California have enjoyed tremendous growth, and there are good indications that leadership in the foundation world may be shifting to the West Coast. The David and Lucille Packard Foundation Packard Foundation: see David and Lucile Packard Foundation. and The California Endowment, for example, are now two of the largest foundations in the country. Public foundations, like the California Community Foundation The California Community Foundation, located in Los Angeles, California serves all of Los Angeles County and is the United States' second-oldest community foundation. It has assets of over $1 billion and makes grants for several different charitable purposes. (see related story on page 84) pull together funding from a broad range of sources. Public foundations typically have a strong regional focus. Corporate giving differs from foundation giving in a falling inwards; a collapse. See also: Giving that gifts are not always monetary; contributions can come in the form of in-kind donations of products and services or support from employees who volunteer. Also, corporate giving priorities are set within the context of the corporations' strategic business interests. Consider the following examples of approaches to corporate giving, all of which share the common goal of fostering a healthy community in which to live and do business and creating ties to the community: Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Foundation The Bank of America Foundation is the largest financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. philanthropic foundation Noun 1. philanthropic foundation - a foundation that provides funds for science or art or education or religion or relief from disease etc. charity - a foundation created to promote the public good (not for assistance to any particular individuals) in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and directs charitable giving on behalf of the Bank of America Corporation. The foundation makes contributions in the following categories: education; health and human services Noun 1. Health and Human Services - the United States federal department that administers all federal programs dealing with health and welfare; created in 1979 Department of Health and Human Services, HHS ; community development; and arts and culture, and contribution decisions are determined at the local level. "At Bank of America, our philosophy begins with the belief that we are responsible for enhancing quality of life in our communities," said Liam E. McGee, president, Bank of America, Southern California. "Having direct responsibility for grant requests in Southern California allows us to see first-hand how our dollars really do make a difference." In Southern California, Bank of America Foundation's giving has nearly tripled over the past three years, demonstrating the bank's continuing commitment to support the local community. In addition to providing financial assistance to local nonprofits, each Bank of America associate is encouraged to spend two hours of paid company time every week to volunteer at the school of his or her choice. The foundation's Volunteer Grants Program strives to make volunteering easy and fun for associates. Associates' volunteer hours can turn into cash grants for their favorite nonprofits. The Matching Gifts Program encourages associates to contribute to qualifying nonprofits of their choice. Dollar for dollar, Bank of America matches up to $5,000 per person each calendar year. Edison International Edison International (NYSE: EIX) is a public utility holding company based in Rosemead, California. Its subsidiaries include Southern California Edison, and un-regulated non-utility assets Edison Mission Energy, a power producer, and Edison Capital. Edison International's giving and volunteer support is directed toward making southern California a better place to live and work. "Education, the environment and the arts are critical to creating thriving neighborhoods everywhere," said Edison International and SCE SCE (in Scotland) Scottish Certificate of Education SCE n abbr (= Scottish Certificate of Education) → Schulabschlusszeugnis in Schottland Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. John E. Bryson. "These three core areas are the focus of the corporation's community involvement as it invests money, people-power and its leadership skills to bolster the quality of life for us all." Edison International has supported education for over 40 years. "By investing in our children, we invest in the future," said Edison International Corporate Secretary Beverly Ryder. "Economic growth and equal opportunity for all citizens begins with a quality education. That is why we support programs that help students stay in and succeed in school--so they can become talented, contributing members of society." Edison's environmental programs also share a concern for the future. SCE Manager of Environmental Affairs Mike Hertel notes "We are dedicated to helping preserve and protect the environment for now and future generations, so we support efforts to develop cleaner sources of energy, protect endangered species endangered species, any plant or animal species whose ability to survive and reproduce has been jeopardized by human activities. In 1999 the U.S. government, in accordance with the U.S. and educate citizens on conservation and preservation." Even Edison's support for the arts is linked to the desire to promote a healthy economy. "Music and dance, painting and sculpture enrich the quality of social and cultural life, and contribute to the economic vitality of both rural and urban areas,' said Corporate Contributions Manager Lucia Galindo. Union Bank of California Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. In 1996 Union Bank of California, N.A made an extraordinary pledge to reinvest at least 4.5 percent of its assets for the next 10 years. (For a corporation, this compares very well with the required level of giving for private foundations of 5%.) Last year the Union Bank of California Foundation donated approximately $8.8 million in grants to groups that provide affordable housing, community economic development, educational programs, culture and the arts, emergency services emergency services Emergency care '…services …necessary to prevent death or serious impairment of health and, because of the danger to life or health, require the use of the most accessible hospital available and equipped to furnish those services' , health and human services, and the environment. Union Bank of California Foundation's support also comes in the form of people power. "Employee involvement - including time, money, energy, expertise and leadership - is a vibrant feature of our philanthropy," notes Bruce Corwin, Vice President, Union Bank of California, and a member of the Foundation Committee. The PALS program (People Applauding Life & Service) organizes employees to lend a helping hand to many philanthropic events and projects such as the Walk to Cure Diabetes, Habitat for Humanity Habitat for Humanity, nonprofit ecumenical Christian organization that enables low-income people to own affordable, livable housing. Headquartered in Americus, Ga., it was founded in 1976 by businessman Millard Fuller and his wife. , recycling, visiting patients in local hospitals; tutoring and mentoring students, delivering meals to the sick; and refurbishing and renovating schools and youth recreational facilities. GIVING IN THE U.S. In 1998, Americans gave $174.5 Billion, or 2.1 percent of GDP GDP (guanosine diphosphate): see guanine. , to charitable causes. * Most giving goes to churches (43.6%) and schools (14.1%) * The lion's share of giving, 85.1% comes from individuals. * Foundations (9.8%) and corporations (5.1%) make up a small percentage of total giving Thanks in large part to a healthy stock market, foundations (not including corporate foundations) increased their giving by 22.9% over 1998, to a total of $17.09 Billion, while corporate giving increased 9.3% to a total of $8.97 Billion. Source: Giving USA 1999 (American Association American Association refers to one of the following professional baseball leagues:
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion