Matching Gift Programs Hit by Recession

Charities are used to companies cutting back grants during tough economic times, but the current recession also is putting a bite on corporate matching-gift programs.

The Wall Street Journal reported Jan. 14 that firms like Northrop Grumman, GM and Pfizer have either cut or eliminated their matching-gifts programs. Other companies have barred retirees and part-timers from taking part in the employee-centric programs.

Matching gifts make up about 10 percent of the $8.6 billion in annual corporate donations to charity.