Companies and their foundations continue to grow despite economic recession0
From a recent study and research by Corporate Citizenship, they have identified corporate foundations in England and Wales have rapidly increased since 2006 despite recent economic recession. Corporate foundations are evidently becoming popular for companies; from reputable viewpoints of ‘giving something back’ to their next step for the CR strategy as motivational factors.
With tough scrutiny the financial sector has endured during these hard times, they continue to rank the highest in terms of quantity and income with Lloyd’s TSB Foundation being the largest. Surprisingly, with slow growth in retail sales; the clothing retailers have been fighting back with a new grouping in the study that was never identified before.
With no shortage of worthy causes and good intentions, a staggering 42% of corporate foundations did not measure or report their impact assessment, indicating many foundations are spending money without understanding the full benefit and value creation. This study opens discussion of whether foundations are simply a grant giving body or part of a strategic approach by the company to community investment.
Release date: 21st January 2013