The 10 most generous companies in the US are familiar and well-known names. Charity is good business for companies, especially in our modern times of instant communication and publicity through social media. A generous organization can benefit in a number of ways by donating to charity. A charitable company goes hand-in-hand with being a ‘good’ company. This creates a positive perception about the organization and creates brand value amongst customers. Consumers not only prefer to buy products and services from generous companies but are also be willing to pay a higher premium for their products and services. Some the most generous companies in the US have built their business models on heavily donating to charities.
Patagonia is perhaps the most famous example of giving heavily to charities. The company not only donates 1% of its sales to grassroots environmental organizations but also made a huge impact by announcing that it would give 100% of its global Black Friday sales to local communities. Google became famous for its corporate motto “Don’t Be Evil”, as opposed to Microsoft, which was known for dealing ruthlessly with competitors. Following Google’s change to Alphabet Inc. in 2015, the motto was modified in the Alphabet corporate code of conduct to the phrase “Do the Right Thing”. Google is now the most valued company as well as having one of the most valuable brands in the world.
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A generous company also benefits, as it has happier employees who are involved in these charitable activities. Voluntary programs for giving back to society in different ways for employees is a great way to not only donate money to charities but also engage employees. A happier employee is a more productive one. Companies also can get a direct financial benefit from donations by getting tax exemptions for the amount of money they donate for charitable causes.
A recent study done by Cone Communications found that 91% of global consumers expect companies to operate responsibly to address social and environmental issues and would boycott a company if they learn of it engaging in unethical business practices. Customers not only prefer companies who give wholeheartedly to charity but are also inclined to volunteer or donate for a cause if they know a company they trust does the same.
Beginning on the next page is a list of the 10 most generous companies in the US based on the size of the cash contributions these companies made in 2015, according to a study by The Chronicle of Philanthropy and verified and published by Fortune. The U.S is one of the ten most giving nations on Earth, so check out our earlier list of the 10 Most Charitable Companies in America for further reading.
