Corporate Philanthropy Awards Honor Trend
While some companies are rewarded for their philanthropic work, others are forced to scale back.
By Danielle Lee
GlaxoSmithKline, Salesforce.com and the National Academy Foundation were honored for their philanthropic initiatives by the Committee Encouraging Corporate Philanthropy (CECP) during the Excellence in Corporate Philanthropy Awards luncheon Monday, Feb. 26, in New York City.
The awards, which have been presented since 2000, recognize CEO leadership, innovation, measurement practices and partnerships in philanthropy.
During the luncheon, which fell on National Corporate Philanthropy Day, GlaxoSmithKline CEO Jean-Pierre Garnier said the drug giant’s philanthropy efforts were driven not only by a desire to help society but also, in part, by a need to recruit highly qualified research scientists. For these scientists, “a lot of it has to do with more than money,” he said. “The 110,000 really wonderful people who work for us want to change the world for millions of people – and they do.” Philanthropy, he added, is “not just doing the right thing – it’s also a competitive advantage.
This sentiment may be part of a growing trend in corporate giving. A January 2007 Conference Board study reports that corporate contributions to worthy causes have increased in recent years (up 18 percent in 2005 among the largest corporations and foundations). And as part of National Corporate Philanthropy Day, Microsoft Corp. announced that it is rewarding $55 million in cash, software and community learning curriculum worldwide through the Microsoft Unlimited Potential 2007 program, which provides computer access and IT skills training to the global workforce.
However, Monday did not mark only good news for corporate philanthropy. On the same day as the awards and Microsoft announcement, Fannie Mae said that it would shut down its foundation, which has been in existence for more than 28 years and awarded $61 million last year alone. The foundation has attracted criticism for using tax-exempt contributions to advance corporate interests.