Philanthropy remains strong despite global slowdown
A report produced by Jenny Macklin MP (Minister for Families, Housing, Community Services and Indigenous Affairs) and Senator Ursula Stephens (Parliamentary Secretary for the Voluntary Sector) evaluating philanthropic activity and performance in the face of the global economic downturn has found that the majority of major companies have continued their trend towards strategic long-term community investment, sustaining their multi-year commitments.
In discussions at the Social Inclusion Conference in Melbourne on the role that businesses can play in promoting social inclusion, Ms Macklin and Ms Stephens reported that 68% of respondents expected an increase in corporate-volunteer support in 2009-2010 and 52% an increase in workplace giving and payroll deductions.
The research, undertaken by the Centre for Corporate Public Affairs on commission by the Australian Government, was based on surveys of 150 leading Australian listed companies and focus groups with public affairs and corporate affairs practitioners responsible for corporate community investment strategies.
Other findings included that, despite many companies experiencing significant pressure on budgets: • 41% of respondents indicated that their overall community investment budget had increased since the previous year; • 35% reported no change; • 69% of companies kept their multi-year commitments; • 12% reported their commitments had been reviewed downwards, and • 12% said their commitments had been postponed or abandoned.