Arkansas Business on THV: Top Charitable Givers
Gary Zekia, Producer
07/10/06
Arkansas Business
Between the year's 2002 and 2005, the Wal-Mart Foundation has handed out nearly $600 million dollars in donations.
But the Foundation's generosity has not been without criticism.
In 2005, the Wal-Mart Foundation gave away more than $200 million worth of grants. That was up $30 million from 2004.
Also in 2005, the National Committee for Responsive Philanthropy said the retailer's actions could mean increased generosity by Wal-Mart of an effort to improve the companies' public image.
Charles Fishman, the author of "The Wal-Mart Effect," said the company is already a top American corporate contributor to charities.
Fishman said Wal-Mart would improve their public image more by working on its labor practices than improving its charitable reputation.
The Wal-Mart Foundation did not make Arkansas Business' 2006 list of the largest non-profits in Arkansas, but another Bentonville organization topped the list.
The Walton Family Foundation, which supports education reform, reported more than $608 million in assets.
It was followed by the University of Arkansas Foundation, which provides financial support for the colleges in the University of Arkansas system.
The Foundation reported $565 million dollars in total assets.
Little Rock-based Heifer International made eighth on the list, but it was among the fastest growing non-profits in Arkansas.
The organization, which focuses mainly on hunger, poverty and environmental interests, saw its assets increase by 50 percent to more than $90 million.
