The Conference Board: Economic Downturn Will Have Major Effects on Corporate Philanthropy in 2009

The economic crisis came late enough in the year that it had minimal impact on 2008 giving budgets. By the end of 2008, 81 percent of companies had spent all of their allocated contributions budget. Only 13 percent of companies reported 4th quarter contributions budget cuts.

In contrast, 45 percent of those surveyed had already implemented a reduction in their 2009 giving budget and 16 percent were now considering it. Thirty-five percent said that they would make fewer grants in 2009 and 22 percent are considering doing the same. Twenty-one percent said that they would make smaller grants and 27 percent were considering doing so.