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Published on May 15, 2014
Philanthropy may sound like a throwback form of CSR in these days of integrated financial reporting. But dozens of companies are practicing the old art of giving in a new style, with serious commitments of cash to support urgent causes such as hunger, education, and health. In 2011, corporate donations totaled $14.5 billion. Here's a look at some companies who are the most generous and the causes they support, courtesy of the Chronicle of Philanthropy's annual corporate giving survey.
In this latest report, the financial sector scores very high. Wells Fargo donated $315 million for housing, local and regional causes, and human services as well as for education and community development. Citigroup gave $137 million for community development and education. JPMorgan Chase donated $183 million for minority issues, housing, veterans, education, and community development. Goldman Sachs directed $241 million to women's issues, community development, veterans, and education. Capital One set aside $55 million for housing, education, and community development issues. And US Bancorp gave $47 million for arts and culture, the United Way, education, and community development. In the next Minute, I'll look at the health sector's philanthropic record, which is equally impressive.