10 Most Generous Companies In The US

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.

10. Target Corporation (NYSE:TGT): $149 million

With cash donations of $149 million, Target Corporation ranks 10th on our list of the 10 most generous companies in the US. Target, America’s second-largest retail chain, focuses on giving for causes such as education, the arts, and public safety. Each year, Target’s grants facilitate educational field trips and funds for schools and non-profit organizations. It also sponsors free or reduced-cost admission at various museums and institutions for children and their families. Target team members give hundreds of thousands of volunteer hours in their communities each year. The stock has returned more than 575% to investors over the last two decades, during which time the broader S&P index was up by 195%. The company also pays dividends regularly and has a dividend yield of 3.77%.

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9. Alphabet Inc (NASDAQ:GOOG): $167.8 million

We are continuing our list of most generous companies in the US with the Google that is America’s second-largest multinational company based in San Francisco, California. Google was named the most valuable brand of 2016 by Forbes. The company is also considered to be an appealing place to work, as it treats its employees well. Google supports various tech-based entrepreneurs working towards a humane cause. The company has donated billions of dollars in grants and apps and has also allowed its employees to volunteer for non-profit organizations. Google donated millions to multiple NGOs to aid the fights against Ebola, human trafficking and child abuse. Google.org is the philanthropic arm of the company established by Sheryl Sandberg for addressing issues such as climate change, global health, and global poverty. It provides traditional grants, seed funding and impact investments. The stock has given outstanding returns of more than 230% over the last decade when the broader NASDAQ was up by 129%.

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8. Bank of America Corp (NYSE:BAC): $168.5 million

One of America’s largest multinational banking and financial services companies, Bank of America works for the betterment of economic health, workforce development and education, community development, and basic needs as their main focus of philanthropic activities; the company will invest $2 billion over ten years towards this effort. It also provides a program for arts and sports sponsorships. Its matching gifts program facilitates doubling its employee’s charitable contributions, up to $5,000 per person each calendar year, for their preferred charity. In all, the company donated $168.5 million in 2015. The stock is down by 56% over the last decade.

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7. JPMorgan Chase & Co. (NYSE:JPM): $224 million

We are continuing our list of most generous companies in the US with another multinational banking and financial company in the U.S, JPMorgan Chase & Co. spent $224 million as cash contributions for noble causes in 2015. Contributions were made to non-profit organizations across the U.S and 43 other countries. More than 47,000 employees devoted 310,000 hours of volunteer service worldwide. The company has launched various programs like New Skills at Work, The Financial Solutions Lab, Small Business Forward, and the Technology for Social Good program, and contributed millions of dollars over the years towards the betterment of local communities. The stock has returned more than 70% in the last ten years’ time.

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6. Chevron Corporation (NYSE:CVX): $225 million

Though Chevron’s donations declined by 7% in 2015, it still ranked as the sixth-largest corporate giver in the US. Chevron Corporation, which is an American energy giant, gave $225 million as cash donations in 2015. The company focuses strongly on education and workplace training programs. Chevron contributes $200,000 a year to the Training for Better Integration scholarship program, to help disabled young people gain access to the job market. It also supports economic development for women in Latin America and the treatment of AIDS in African countries. The stock has returned more than 140% since its listing and currently has a dividend yield of 3.88%.

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5. ExxonMobil Corporation (NYSE:XOM): $268 million

Halfway through our list of most generous Companies in the US at 5t place we have the ExxonMobil, an American multinational oil and gas company and the largest of the world’s Big Oil companies. The ExxonMobil Foundation founded in 2000 focuses on supporting education, promoting equality for women, and malaria prevention. Through the ExxonMobil Women’s Economic Opportunity Initiative, more than $90 million has been invested towards promoting economic opportunities for women. In 2015, nearly 15,000 ExxonMobil employees donated more than 629,000 volunteer hours to charitable organizations in 34 countries. In addition, the company also has an educational matching gift program that matches employee donations to US higher education institutions at a ratio of 3-to-1. ExxonMobil’s 2015 cash contributions totaled $268 million. The company follows a regular dividend payment program and has returned 14% in the last ten years, in tough business conditions.

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4. Goldman Sachs Group Inc (NYSE:GS): $276.4 million

Goldman Sachs is engaged in providing investment banking, investment management, and other financial services globally. ‘Goldman Sachs Gives’ is a program designed to nurture innovative ideas, solving economic and social issues, and enabling the progress of global communities. The program has reached out to over 4,000 non-profits in 80 countries and has made more than $1 billion in grants. The company has touched the lives of millions of people globally through its various initiatives like 10,000 Women and 10,000 Small Businesses. With more than $276 million in cash donations in 2015 the company was the fourth-most generous company in the US. Goldman Sachs has returned more than 200% since its inception and also pays regular dividends to its shareholders.

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3. Wells Fargo & Co (NYSE:WFC): $281.3 million

Headquartered in California, Wells Fargo is a leading American banking and financial services company. Wells Fargo has been adorned with titles like “most respected company in the world”, “most admired company in the world” and the “world’s most valuable bank brand”. Wells Fargo had set a goal to donate $1 billion to non-profit groups by 2017. However, the company achieved that goal two years early, in 2015. The year 2015 marked Wells Fargo’s sixth-consecutive year of more than $200 million in donations, with donations of more than $281 million to 17,100 non-profit groups. Shares of the company have gained more than 56% over the last decade and currently have a dividend yield of 2.7%.

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2. Wal-Mart Stores Inc (NYSE:WMT): $301 million

Wal-Mart is the largest retail chain in the US. The one of the most generous companies in the US  is the largest private employer in the world, with 2.2 million employees and 11,666 stores in 28 countries. The company’s philanthropic activity includes making contributions towards goals such as sustainability, community and opportunity. During its fiscal year ended January 2015, Walmart and the Walmart Foundation gave $1.4 billion in cash and in-kind contributions. Some of the company’s programs include its national and state giving program, its community and North Arkansas grant program, and its US Manufacturing Innovation Fund. Walmart’s 2015 cash contributions stood at $301 million. The company pays regular dividends to its shareholders and has returned 40% over the last ten years.

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1. Gilead Sciences Inc. (NASDAQ:GILD): $446.7 million

With cash donations amounting to $446.7 million, Gilead Sciences tops the list of the 10 most generous companies in the US. Gilead Sciences in an American biopharmaceutical company engaged in the development of medicines in areas such as HIV, cardiovascular, hematology, and liver diseases. Headquartered in California, Gilead operates in North America, Europe and Australia. The firm grants funding requests from non-profit groups. The Gilead Foundation provides grants to programs in the United States and internationally. It focuses on increasing HIV and hepatitis education, outreach, prevention and health services. In 2015, Gilead increased its global contributions by more than 60%, providing funds to nearly 2,000 non-profit organizations worldwide. Gilead’s stock has also cheered investors by returning more than 360% over the last decade. It currently has a dividend yield of 2.6%.

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