Corporations Curb Contributions.Nonprofit organizations Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. can no longer count on the double-digit growth in corporate giving that has characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. the past five years. A survey of the nation's largest companies by the Chronicle of Philanthropy philanthropy, the spirit of active goodwill toward others as demonstrated in efforts to promote their welfare. The term is often used interchangeably with charity. finds that their charitable contributions charitable contribution n. in taxation, a contribution to an organization which is officially created for charitable, religious, educational, scientific, artistic, literary, or other good works. will level off in 2001. Fifty-five of 91 corporations expect to donate about the same or less than they did in 2000. The Chronicle survey collected information on cash donations and donated products for the past three years. Big donors. The top corporate givers (of combined cash and products) were Pfizer ($340 million), Merck & Company ($249 million), and Microsoft ($232 million). Wal-Mart Stores gave the most cash in 2000--$150 million. Trends. To cope with the economic slowdown, some corporations plan to either postpone post·pone tr.v. post·poned, post·pon·ing, post·pones 1. To delay until a future time; put off. See Synonyms at defer1. 2. To place after in importance; subordinate. spending decisions until late in 2001 or limit multiple-year grants. For example, BellSouth Corporation, which said it plans to donate about $29 million in 2001 as it did in 2000, said it would delay the start of some new grants programs while it monitored earnings. |
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