Key Takeaways
- In 2022, total U.S. corporate charitable giving reached $29.48 billion, marking a 3.4% increase from 2021 and representing 4% of total philanthropy in the U.S.
- Corporate giving in the U.S. accounted for $21.58 billion in foundation grants from corporate foundations in 2022, up 4.5% adjusted for inflation
- Between 2018 and 2022, U.S. corporate cash donations grew by 15%, totaling $17.2 billion in 2022 excluding foundation grants
- U.S. tech sector corporate giving totaled $12.4 billion in 2022, 42% of all corporate philanthropy
- Financial services firms donated $4.1 billion in 2022, focusing 35% on financial literacy programs
- Healthcare companies contributed $3.8 billion to charities in 2022, with 50% going to health-related causes
- In 2022, corporate foundations distributed $25.6 billion in grants, with 55% from manufacturing-linked foundations
- The largest 1,000 corporate foundations in the U.S. awarded $14.2 billion in 2021, averaging $14.2 million each
- Walmart Foundation granted $1.2 billion in 2022 to hunger relief and sustainability
- Corporate giving increased 5% annually from 2018-2022, driven by ESG mandates
- Post-COVID, corporate donations to health causes rose 40% from 2019 to 2022 levels
- Employee matching gifts grew 12% year-over-year to $1.5 billion in 2023
- In 2022, 65% of corporate giving went to education causes, totaling $19 billion
- Health and human services received $8.7 billion from corporations in 2022, 29% of total
- Environment and animals causes got $3.2 billion in corporate donations in 2022
Corporate giving increased significantly, reaching billions across many sectors and causes.
Aggregate Giving Levels
- In 2022, total U.S. corporate charitable giving reached $29.48 billion, marking a 3.4% increase from 2021 and representing 4% of total philanthropy in the U.S.
- Corporate giving in the U.S. accounted for $21.58 billion in foundation grants from corporate foundations in 2022, up 4.5% adjusted for inflation
- Between 2018 and 2022, U.S. corporate cash donations grew by 15%, totaling $17.2 billion in 2022 excluding foundation grants
- In fiscal year 2023, corporate philanthropy worldwide hit $150 billion, with North America contributing 60%
- U.S. companies donated $1.8 billion in non-cash gifts like product donations in 2022, comprising 6% of total corporate giving
- Corporate employee giving through matching programs totaled $2.4 billion in 2022 across U.S. firms
- In 2021, corporate giving as a percentage of pre-tax profits was 0.9% for S&P 500 companies
- Global corporate social responsibility (CSR) spending reached $1.2 trillion in 2022, with 25% allocated to philanthropy
- U.S. corporate grants to nonprofits grew 5.2% year-over-year to $15.6 billion in 2021
- In 2023, average corporate giving per employee in large U.S. firms was $145
- Corporate giving surged 10% to $32 billion in 2020 due to COVID-19 response efforts
- From 2017-2021, corporate donations to education reached $8.5 billion annually on average
- U.S. corporate PAC contributions to political causes totaled $1.1 billion in 2022 cycle, but excluded from philanthropy stats
- In 2022, 78% of Fortune 500 companies reported charitable giving, averaging $55 million per company
- Corporate volunteerism value equivalent was $7.2 billion in 2022 based on 1.5 billion hours donated
- Global corporate giving grew 7% annually from 2019-2023, reaching €120 billion in Europe alone
Aggregate Giving Levels Interpretation
Beneficiary and Cause Areas
- In 2022, 65% of corporate giving went to education causes, totaling $19 billion
- Health and human services received $8.7 billion from corporations in 2022, 29% of total
- Environment and animals causes got $3.2 billion in corporate donations in 2022
- Arts, culture, and humanities attracted $2.1 billion in 2022 corporate support
- International affairs and development received $2.8 billion from U.S. corporations in 2022
- Public benefit and religion causes totaled $1.9 billion in corporate giving 2022
- Youth development organizations received $4.5 billion, 15% of corporate philanthropy in 2022
- Disaster relief funds got $1.2 billion spike in 2022 from corporate donors
- Racial equity initiatives absorbed $3.1 billion in 2022 corporate commitments
- Women's empowerment causes received $1.8 billion from corporations in 2022
- Mental health nonprofits got $900 million in 2022 corporate donations
- Food insecurity relief saw $2.4 billion corporate support in 2022
- STEM education programs received $6.8 billion from tech firms in 2022
- Veteran support organizations obtained $1.5 billion in corporate funding 2022
- LGBTQ+ causes drew $750 million in corporate pride-month and annual giving 2022
- Animal welfare groups received $650 million from pet food and retail corps 2022
- Economic development nonprofits got $2.0 billion corporate backing in 2022
- In 2022, 45% of corporate giving supported U.S.-based nonprofits exclusively
- Tech companies directed 52% of their $12.4 billion giving to education beneficiaries in 2022
- Financial services allocated 28% of giving to community development recipients in 2022
Beneficiary and Cause Areas Interpretation
Corporate Foundation Giving
- In 2022, corporate foundations distributed $25.6 billion in grants, with 55% from manufacturing-linked foundations
- The largest 1,000 corporate foundations in the U.S. awarded $14.2 billion in 2021, averaging $14.2 million each
- Walmart Foundation granted $1.2 billion in 2022 to hunger relief and sustainability
- ExxonMobil Foundation donated $250 million in 2022 primarily to STEM education
- Bank of America Charitable Foundation awarded $300 million in 2022 for economic mobility
- Google.org granted $500 million in 2022 to technology for social good
- Pfizer Foundation distributed $150 million in 2022 focused on global health equity
- Coca-Cola Foundation gave $200 million in 2022 to water stewardship and youth development
- JPMorgan Chase Foundation committed $500 million over five years through 2022 for community development
- Verizon Foundation awarded $140 million in 2022 to digital skills training
- Target Foundation granted $115 million in 2022 supporting education and environment
- Wells Fargo Foundation donated $177 million in 2022 to housing and financial health
- IBM International Foundation gave $50 million in 2022 to skills-based volunteering
- Chevron Foundation distributed $100 million in 2022 for education and environment
- Home Depot Foundation awarded $111 million in 2022 for veteran housing
- Disney Worldwide Conservation Fund granted $12 million in 2022 for wildlife protection
- Ford Foundation (corporate arm) gave $80 million in 2022 to mobility innovation
Corporate Foundation Giving Interpretation
Industry-Specific Giving
- U.S. tech sector corporate giving totaled $12.4 billion in 2022, 42% of all corporate philanthropy
- Financial services firms donated $4.1 billion in 2022, focusing 35% on financial literacy programs
- Healthcare companies contributed $3.8 billion to charities in 2022, with 50% going to health-related causes
- Retail sector corporate giving hit $2.9 billion in 2022, 28% via product donations like food and clothing
- Energy and utilities firms donated $2.2 billion in 2022, prioritizing environmental sustainability at 40% of gifts
- Manufacturing companies gave $1.7 billion in 2022, with 22% supporting workforce development
- Consumer goods corporations contributed $3.5 billion globally in 2022, 60% to hunger relief and sustainability
- Telecom industry donations reached $1.9 billion in 2022, 45% to digital inclusion initiatives
- Automotive sector gave $1.4 billion in 2022, focusing 38% on STEM education and road safety
- Food and beverage companies donated $2.6 billion in 2022, equivalent to 1.2 billion meals provided
- Insurance firms contributed $1.8 billion in 2022, 30% to disaster relief funds
- Aerospace and defense gave $1.1 billion in 2022, 25% to veteran support organizations
- Media and entertainment donated $1.5 billion in 2022, 35% to arts and diversity programs
- Real estate companies gave $900 million in 2022, 40% to affordable housing nonprofits
Industry-Specific Giving Interpretation
Trends and Growth
- Corporate giving increased 5% annually from 2018-2022, driven by ESG mandates
- Post-COVID, corporate donations to health causes rose 40% from 2019 to 2022 levels
- Employee matching gifts grew 12% year-over-year to $1.5 billion in 2023
- From 2020-2023, corporate volunteer hours increased 25% to 2 billion globally
- ESG-integrated giving rose from 30% of corporate budgets in 2019 to 65% in 2023
- Corporate donations declined 2% in 2023 after 2022 peak due to economic pressures
- Tech companies' giving grew 18% annually 2019-2022, outpacing other sectors
- International giving by U.S. firms increased 15% from 2020-2022 to $4.5 billion
- Diversity-focused giving surged 50% from 2020 to 2023 amid social justice movements
- Non-cash giving as share of total rose from 5% in 2018 to 12% in 2023
- Corporate PAC giving to nonprofits grew 8% annually to $800 million in 2022
- Sustainability giving doubled from $10 billion in 2018 to $22 billion in 2023
- Remote work boosted virtual volunteering 300% from 2019 to 2023
- Mid-sized firms (500-5000 employees) increased giving 22% faster than large corps 2021-2023
- Cash donations share fell from 75% in 2019 to 60% in 2023 as in-kind rose
- Climate change giving tripled from $2 billion in 2019 to $7 billion in 2023
Trends and Growth Interpretation
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