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The pharmaceutical industry contributed the most to worthy causes in 2000.
The pharmaceutical industry contributed the most to worthy causes in 2000 as corporate contributions climbed to $3.9 billion, according to a study by The Conference Board, a New York-based research company. That's a 17% increase from the previous year's $3.4 billion.
The study, which includes 207 large and mid-sized U.S. firms, covers about 36% of overall corporate charitable giving in the United States in 2000. Total charitable contributions from corporations, including grants from corporate foundations, reached an estimated $10.86 billion in 2000, according to the Indianapolis-based American Association of Fundraising Counsel's 2001 edition of Giving USA.
Among industries, pharmaceutical companies donated the largest share of U.S. contributions. Other top donor industries included computer and office equipment manufacturers, banking, and telecommunication services. In keeping with historical trends, the majority of contributions made by pharmaceutical and computer manufacturers consisted of non-cash donations (including such items as company products, equipment, land, intellectual property and other material donations). In 2000, U.S. non-cash donations made by pharmaceutical companies far exceeded non-cash gifts made by other industries. Pharmaceutical companies and manufacturers of computer and office equipment reported the largest amounts of non-cash international donations as well.
Support for health and human services regained its position as a top priority in corporate contributions, marking a reversal of a two-year trend when education was the biggest beneficiary. The significant growth of funding to this area was helped by exceptionally large product donations from the pharmaceutical industry. PR