Article
July 13, 2014

10 Companies That Gave the Most Cash in 2013

Andy Hall

Johnson & Johnson gives to newborn health

1. Walmart Stores

Walmart

Walmart funds programs that help women start small businesses.

How much it gave: $311,607,280

Share of 2012 pretax profits donated in 2013: 1.3%

Forecast for 2014: Expects giving to increase more than 3%

Of note: The world’s biggest retailer climbed to the top of the list, even though cash giving by Walmart declined 9 percent in 2013. The company reached the halfway mark on a five-year, $2-billion commitment to combat hunger in the United States. It hit 1 billion meals donated, Walmart says. The company’s philanthropic priorities also include environmental sustainability, economic opportunity for women, and professional development. In 2013, the company supported 85,000 grants around the world.

2. Wells Fargo & Company

Wells Fargo

Wells Fargo gave to the National Fish and Wildlife Foundation.

How much it gave: $275,478,175

Share of 2012 pretax profits donated in 2013: 1%

Forecast for 2014: Expects giving to increase up to 3%

Of note: Giving by the bank fell 12.8 percent, the largest decline among those on the 2013 top-10 list. Wells Fargo gave $12.4-million to the Neighborhood Reinvestment Corporation in grants that promote homeownership and small-business loans, among other efforts. It also gave $12.1-million to the National Fish and Wildlife Foundation, part of a multiyear $100-million commitment to fund environmental work at nonprofit organizations and universities. Wells Fargo also contributes to K-12 education and housing.

3. Chevron Corporation

Chevron

Chevron gave to the Niger Delta Partnership Initiative Foundation.

How much it gave: $274,348,743

Share of 2012 pretax profits donated in 2013: 0.6%

Forecast for 2014: Expects giving to increase up to 3%

Of note: The energy company increased its giving by 4.5 percent. Its biggest grant was $11-million awarded to the Niger Delta Partnership Initiative Foundation for a project designed to increase employment and income. Chevron gave $9-million to the Global Fund to Fight AIDS, Tuberculosis, and Malaria. It also gave $7.1-million for a program called Fuel Your School, which helps fund classroom projects through the giving web platform DonorsChoose.

4. Goldman Sachs Group

Goldman Sachs

Steven F. Bevacqua

Veterans programs like The Mission Continues were a priority for Goldman Sachs.

How much it gave: $262,580,983

Share of 2012 pretax profits donated in 2013: 2.3%

Forecast for 2014: declined to state

Of note: The financial institution increased its giving by 8.8 percent compared with the previous year. Veterans continue to be a priority. Goldman Sachs says it has exceeded a $20-million giving pledge announced in 2010 to fund nonprofits that provide veterans with job training and other services. In addition, the financial institution operates its own veterans integration program, which recruits and trains veterans for jobs in the global financial-services industry. Education is another Goldman Sachs priority. It gave $20-million to the Harlem Children’s Zone for the construction of a new charter school, which opened in 2013.

5. ExxonMobil Corporation

Exxon Mobil

ExxonMobil supports malaria prevention.

How much it gave: $227,487,934

Share of 2012 pretax profits donated in 2013: 0.3%

Forecast for 2014: declined to state

Of note: The largest grant awarded by the energy company was $24-million to the National Math and Science Initiative to improve math and science education in the United States. It gave $2.7-million to the Vital Voices Global Partnership to foster women’s economic empowerment and $2.4-million to the National Science Teachers Association for professional development for educators. ExxonMobil also funds programs dedicated to preventing and treating malaria.

6. JPMorgan Chase & Co.

JPMorgan Chase

Luke Goodman

JPMorgan sponsors hackathons at which college students race to come up with technological solutions for problems facing nonprofits.

How much it gave: $210,908,786

Share of 2012 pretax profits donated in 2013: 0.8%

Forecast for 2014: Expects giving to increase more than 3%

Of note: The investment bank launched a $250-million, five-year work-force development program called New Skills at Work designed to address skills gaps, especially among young job seekers. It also started a $33-million, three-year effort to provide seed money to community-development financial institutions that will in turn provide capital to small businesses in low-income communities. Awards have included a $6-million grant given to the Raza Development Fund to help foster small businesses, housing, and other community-development efforts within reach of public transportation in Phoenix.

7. Bank of America

Bank of America

Bank of America operates a high-school student-leadership program, which matches qualified students with paid internships at local nonprofits.

How much it gave: $166,453,414

Share of 2012 pretax profits donated in 2013: 5.4%

Forecast for 2014: Expects giving to increase up to 3%

Of note: Funding priorities at the bank include work-force development and education, housing, and food security. Its Neighborhood Builders program awards $200,000 grants to nonprofits addressing related issues.

8. Johnson & Johnson

Johnson & Johnson

Andy Hall

Johnson & Johnson gives to newborn health.

How much it gave: $157,168,000

Share of 2012 pretax profits donated in 2013: 1%

Forecast for 2014: declined to state

Of note: After missing the list in 2012, the purveyor of medical devices and toiletries increased its cash giving 19.7 percent in 2013. The company’s philanthropy centers on global health causes, including preventing and treating fistulas, protecting against intestinal worms, and reducing infant-mortality rates. It has given tens of millions of dollars to various partners to eliminate the transmission of HIV from mother to infant. Johnson & Johnson also funds professional development for health-care workers such as midwives and nurses, both domestically and abroad.

9. General Electric

GE

GE provided tens of millions of dollars to K-12 education programs.

How much it gave: $154,800,000

Share of 2012 pretax profits donated in 2013: 0.9%

Forecast for 2014: Expects giving to increase up to 3%

Of note: Total giving by the company declined 4.1 percent. Since 2009, GE has been working to execute a five-year, $50-million giving program designed to improve health-care access in disadvantaged communities in the United States. As of January 2013, it had given $37.4-million to various health-focused organizations. The company also has an international health effort. In addition, GE provided tens of millions of dollars to fund K-12 education programs, including grants to promote science and math education and resources to facilitate the implementation of the Common Core Standards. The company matches its employees’ giving up to $50,000 a year.

10. Target

Target

A Target-funded school library makeover in Denver.

How much it gave: $148,597,737

Share of 2012 pretax profits donated in 2013: 3.2%

Forecast for 2014: Expects giving to increase up to 3%

Of note: Cash giving by the retail chain ticked up 1.4 percent in 2013. The company’s education-related grants include arts and cultural experiences, field trips, and reading programs. The company has said it is giving at a rate of about $4-million a week and that it will have given $1-billion for education by 2015. It also funds grants to promote public safety.

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