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Report reveals philanthropy remains strong despite global slowdown

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The report, Impact of the Economic Downturn on Corporate Community Investment was released on 29 January at the Social Inclusion Conference in Melbourne.

The report found that despite many companies experiencing significant pressure on budgets in 2008-09:

  • 41 per cent of respondents indicated that their overall community investment budget had increased since the previous year
  • 35 per cent reported no change.

The research also found that 69 per cent of companies kept their multi-year commitments, while 12 per cent reported their commitments had been reviewed downwards and 12 per cent said their commitments had been postponed or abandoned.

The Australian Government commissioned the Centre for Corporate Public Affairs to undertake this research, which included surveying 150 leading Australian-listed companies and focus groups involved with corporate community investment strategies.

Minister for Community Services, Jenny Macklin, said corporate community philanthropy is essential, as more individuals and families are now seeking help from charities in times of need.

“This report is heartening, highlighting the generosity of the Australian corporate community, even in tough times,” Macklin said.

Parliamentary Secretary for Social Inclusion and the Voluntary Sector Ursula Stephens said “The complex causes of deep disadvantage cannot be resolved by government alone or by the not-for-profit and corporate sectors working in isolation.

“It is only by working in partnership with all three sectors and bringing our respective strengths to tackling the complexity of exclusion that we will be able to make a difference.”

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