Corporate slowdown?
Many charities are holding their breath as they wait for the fallout from market turbulence and impending recession to hit corporate donations. Already the impact of high-profile casualties such as Lehman Brothers on charitable donations has been reported in the UK and the US.[1] See also Caritas, Issue 11, October 2008. Most affected is the financial services sector, the banks and building societies which have held a dominant place in UK corporate giving over the last few years. Five of such companies were amongst the top 10 corporate donors in 2006, but the sector was unable to maintain this position of strength in 2007, and it will undoubtedly weaken further in 2008. At a recent event for community investment professionals, more than half indicated that they expected to feel a squeeze on their budgets.[2] Charities who want to retain their corporate donations had better start doing their homework. Companies will be looking for the most carefully targeted propositions, offering the best deals in business benefits.
Author: Mark Pincher
Mark Pincher is data editor and development manager for Caritas Data.
Author: Cathy Pharoah
Cathy Pharoah is co-director of the ESRC Research Centre for Charitable Giving and Philanthropy (CGAP) at Cass Business School.
www.cass.city.ac.uk/philanthropy
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