Corporate Foundation Giving Remained Flat in 2008, Declines Expected in 2009

New York, NY — May 11, 2009. Charitable giving by the nation's nearly 2,500 corporate foundations remained virtually unchanged in 2008, according to the Foundation Center's Key Facts on Corporate Foundations, an annual report on corporate foundation giving released today. Giving totaled an estimated $4.4 billion last year.
Corporate foundation giving will most certainly decline in 2009, with the banking and finance industries accounting for about one-quarter of corporate foundation support in recent years and corporate earnings down across the board. Slightly more than half (51 percent) of corporate foundations responding to the Center's annual forecasting survey said they expect to reduce their giving this year, with three-quarters of these funders anticipating decreases of more than 10 percent.
"Corporate foundations will not be alone in having to reduce giving this year, but the cuts may well be deeper than for other types of grantmakers," said Steven Lawrence, senior director of research at the Foundation Center.
Other key findings from the report include:

• Inflation-adjusted corporate foundation giving has remained nearly flat in recent years.
• After inflation, corporate foundations reported slower cumulative growth in giving than other types of foundations since 1990.
• Education continues to be the number one focus of corporate foundation giving, followed by public affairs/society benefit and human services.
• The Northeast and Midwest continue to account for the largest shares of corporate foundation giving.