Companies giving the most to charity

An annual survey finds cash contributions increased modestly in 2012 as corporations increasingly used product donations to target philanthropic goals.

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VIDEO ON MSN MONEY

350Comments
Aug 1, 2013 2:36PM
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This article should be called “how to lie with statistics.”  Of course Exxon Mobil, Goldman Sachs, Chevron, Walmart, and Wells Fargo gave the most money to charities in terms of dollars and cents, as they have some of the biggest total sales and profits of all corporations.  But for a fair assessment of generosity, one should look at the percentage of profits donated to charity, not just the gross amount.  For the five companies listed above, that percentage of pre-tax profit donated is Exxon Mobil (0.3%), Goldman Sachs (3.9%), Chevron (0.6%), Walmart (4.5%), and Wells Fargo (1.3%).  So an average employee at Walmart making about $20,000, who gives more than $900 to church and other charities is more generous than his company.  If he gives more than $60, or $780, or $120, or $260 he is also more generous than Exxon Mobil, Goldman Sachs, Chevron, and Wells Fargo, respectively.   Many Americans in lower economic standings are more generous than these companies, so give yourself a pat on the back.  Target claims to donate at least 5% of their profits to schools and other charities, so that surpasses all these companies in real terms.  However, one of the most generous companies today is a relatively new company, Chobani yogurt, which donates 10% of its profits to charities worldwide.  So go to Target and buy some Chobani yogurt and help out a lot of charities.

Aug 1, 2013 2:30AM
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I'm disappointed.  I was hoping to read about companies generous to their employees.  That would mean as much, or more, to me.  I know that they are getting something back besides just satisfaction.
Aug 1, 2013 8:02AM
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Hey the reason most of these companies gave money and gifts was because it was in their own interest....only!
Aug 1, 2013 9:24AM
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Did the OIL companies donate anything to charity as they had record profits in the billions.  Oh wait...they had to pay off our elected officials in Washington to turn the other way & rip off the consumer with $4.00 a gallon gas.
Aug 1, 2013 6:35AM
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I'd like to see how much would be given if it wasn't tax deductible.....Besides, most charities keep most for overhead and telemarketers. I give my time at a soup kitchen instead. At least 5 days a month. That's just what works for me.
Aug 1, 2013 11:30AM
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I heard Bill Gates is pretty generous and not taking any free handouts!
Aug 1, 2013 7:08AM
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A pack of thieves trying to get some PR.
Aug 1, 2013 7:12AM
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Check out the tax break these profitable companies get. Not saying it's a complete tax dodge but...............might be a large factor.
Aug 1, 2013 11:58AM
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This is great but I, like others, was hoping to hear about being generous to employees. Also some of these companies have good intent and that may be their main driving force but for others I know its more about the write off they can get instead. Just making sure that is clear.

I think its time

Aug 1, 2013 10:39AM
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WELL WELL WELL....LOOK 2 BIG OIL COMPANIES AND WALMART! WHERE IS GE? NO TAXES?
ENERGY STIMULUS MONEY! WHERE IS NBC? NOTHING BUT COMMUNIST NETWORK? WHERE
IS WHOLEFOODS? WHERE IS GOOGLE? WHERE IS HOLLYWEIRD? WHERE ARE ALL THE BIG
MOUTH HYPOCRITE LEFT WING PROGRESSIVE COMPANIES AND GROUPS WHO SUPPORT
OBAMA'S BIG GOVT WELFARE NANNY STATE PROGRESSIVE AGENDA???? WHERE???? IT'S
FUNNY YOU LIBERALS REMARKING THIS IS JUST TAX BREAKS AND PUBLICITY BUT IF IT WAS
GE OR GMC OR GOOGLE OR ??? YOU'D BE SAYING HOW GREAT THEY ARE! HYPOCRITES!

Aug 1, 2013 1:27PM
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Wow. None near the normal church tithing expected rate of 10% for the average churchgoer. Most here at less than 1%. Now how about telling us their 'effective tax rate' - how many paid more than 10%? And let's also compare it to how much they gave in political contributions. If corporations are people too, how about making them pay at the individual tax rates.
Aug 1, 2013 11:50AM
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" That's a seven-year low, according to the Chronicle of Philanthropy. Over the previous six years, the median contribution ranged from 1% to 1.4% of the givers' overall revenue."    Average American gives 2.5% of  their income to charity.   With the por, elderly and conservatives givng 3 times as much as the young, rich and liberals do.
2011 Contributions By Source of Contribution
   
  Individuals   $217.79 billion
  Foundations   $41.67 billion
  Bequests   $24.41 billion
  Corporations   $14.55 billion
Aug 1, 2013 11:25AM
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It all about image. I have a past family member who will give money to charity to boost his professional image with hopes of increasing his income and still would let his mother sleep in her car?  This would be my past step son who lives in Omaha NE. A so called good Christian man. 

 

Jul 31, 2013 11:27PM
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Everyone knows how to get money out of a nonprofit charity. Payroll. The execs must have all their relatives working at the charities drawing big salaries.

Aug 7, 2013 6:56AM
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Quiet obvious that generosity is not the motivating factor in their giving since Wal-Mart tops the list. The taxpayer is stuck with the the bill of $1000 per Wal-Mart employee on average due to their poor wages and their dependence on government aid.
Aug 1, 2013 10:33AM
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LOL What a Scam

These Companies Just Over charge you and give you back a small % of what they overcharged you.

There not Generous. 
Aug 1, 2013 1:52PM
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I counted two oil companes and two financial institutions.  Did the count quickly and did not recount.  So, may not be correct. But, oil companies and financial instutions get credit for giving to charity.  Amanzing. These are people who take our money and give it to whomever they choose to get the "praise."  In my area, a guy owns an oil company.  He has people holding their hand out to take your money but YOU, the customer, cannot talk to him.  If you call, you won't get him.  If you write, you won't get an answer.  But, his workers are there to get your money.  And, he gives "charity" to a medical bunch who pump out whitecoats to write pill presciptions that may addict more people.  If I can't talk to the owner of a local business, I don't want to give them my little money.  "Charity" costs them nothing. It is added to our purchases. We pay for it and they get the credit.
Aug 7, 2013 4:31AM
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I love how this information is presented as if these companies actually donated to charity. What a crock of ****. 1st they only do it for the tax shelter and write offs 2nd most of the generated proceeds come from employee and customer contributions 3rd MSN is a scumbag corporation misrepresting information as if they are actually researching the facts.
Jul 31, 2013 7:58PM
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Charitable giving is a poor use of investor money. It is best left to individuals. Walmart 1 billion, really? Open another store & hire more people, that would accomplish more on an economic front. 
Jul 31, 2013 8:37PM
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wal mart gives only 1% of its income to charity..the only reason they made this list is because they suck more money from us citizens then any company around...wells fargo donates alot because they got the federal reserve giving them cash..idiots...where else does the bank money come from? the sky
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