Wal-Mart, Walton Family Gave Almost $600m in 2007

Mar.25.08 | About: Wal-Mart Stores, (WMT)
Top 10 Organizations for Annual Giving, 2007
(Source: Annual Reports)
BENTONVILLE, Ark., Feb. 25, 2008Wal-Mart announced that the company and its Foundation gave $296 million in 2007 – $5.6 million per week – benefiting more than 4,000 U.S. communities. Donations last year reflected a $23 million increase over giving in 2006.
Additionally, Wal-Mart customers and associates again proved to be some of the most generous in the nation, donating $106 million through individual contributions and company-sponsored fundraisers, bringing total 2007 U.S. giving to more than $400 million. For the last two years, Wal-Mart has been recognized by the Chronicle of Philanthropy as the largest corporate cash contributor in America. The company expects that today’s announcement will confirm this position for Wal-Mart for the third consecutive year.

How does $402 million in annual giving compare to the annual giving of the most generous U.S. foundations? Well, as shown in the chart above, Wal-Mart gives more than all but five charitable organizations, and ranks #6 for annual giving.

In addition, the Walton Family Foundation gave $189 million in 2007. Add that amount to Wal-Mart's $402 million, and Wal-Mart and the Walton Family gave almost $600 million in 2007, second only to the Gates Foundation. Wal-Mart is one of the most generous organizations on the planet.

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