Corporate philanthropy by multinational US businesses increased by 5.6% in 2007 according to new research by the Committee Encouraging Corporate Philanthropy (CECP). The international forum of business CEOs and chairpersons claims that donating shot up to a median of $26 million among the 155 companies it surveyed.
Highlighting the growing importance of philanthropy to long-term shareholder value, many cited a shift towards funding new strategic focus areas, as well as an increased level of senior management attention to community investment.