Corporate Profits Surge but Cash Donations Creep Up Only 3%
Ben Gose and Sarah Frostenson
The Chronicle of Philanthropy
July 13, 2014
Some nonprofit advocates see the corporate tightfistedness with cash as a problem.
“Nonprofits certainly appreciate in-kind gifts and all forms of corporate support,” says Aaron Dorfman, executive director of the National Committee for Responsive Philanthropy, a watchdog group in Washington. “But what they really need and want is cash. Cash giving is hands down the most valuable and efficient way for corporations to support nonprofits.”
Some charity and business leaders see a different picture, saying America’s corporations are serious about using all of their resources to help charities, including deploying employees to provide services that nonprofits might not otherwise be able to afford.
General Electric has given nearly $48-million in the past five years to community health centers, and employees have volunteered 420,000 hours to help the centers improve operations.
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