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.

    By Partnership Staff
    January 2009

    Published

    January 2009

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