22 Most Charitable Companies in 2022
In this article, we discuss the 22 most charitable companies in 2022. If you want to skip the details about corporate and individual charitable practices and global charity statistics, go directly to the 5 Most Charitable Companies in 2022.
According to the Charities Aid Foundation World Giving Index 2022, 40% of the global population took part in charitable causes. In 2021, the global charity contribution rose by 4% and in high-income countries, the increase was recorded at 10%. The figure reveals that the number of people that donated was up by 200 million over the year.
In the United States, over 80% of donations are made by individuals and 20% by corporations. It is estimated that 60% of US residents participate in philanthropic endeavors. However, despite being one of the top 10 most charitable countries in the world for a long time, the US has fallen to number 19. Indonesia was reported to be the most charitable country in the world last year. 8 out of 10 Indonesian individuals have given out charitable donations in the previous year and its volunteering average is three times the global average.
Corporate Social Responsibility
Corporate social responsibility is a self-regulatory model where corporations assess their impact on local and global communities. Businesses get charitable donation tax deductions when they contribute to social causes.
Corporations involved in making charitable contributions not only positively impact the world, but also put forward a shiny public image. According to research, 70% of millennials are more likely to spend on brands that support social causes. On top of that, according to Charities Aid Foundation, 51% of British adults prefer buying from companies that donate to charitable causes.
Corporations are not only helping the causes financially but also using their business intelligence and manpower to help the communities. Companies such as Alphabet Inc. (NASDAQ:GOOG) are not only funding non-profits, but also providing pro bono hours to eradicate many social issues.
Some of the companies that take their social responsibility seriously are Novo Nordisk A/S (NYSE:NVO), The Goldman Sachs Group, Inc. (NYSE:GS), and Microsoft Corporation (NASDAQ:MSFT).
Photo by Joel Muniz on Unsplash
Our Methodology
After thorough research, we compiled a list of 22 private and publicly-traded companies that are taking part in philanthropic causes. The companies were selected based on the positive impact they have on the local and global communities.
Most Charitable Companies in 2022
22. Ben & Jerry’s: Owned by Unilever PLC (NYSE:UL)
Unilever PLC (NYSE:UL)'s Ben & Jerry’s has a long history of charitable contributions in the United States. It is one of the most charitable companies as it contributes 7.5% of its annual net income toward social causes.
The company also raises its voice for different social causes such as mass incarcerations and releasing aging people in prison, fighting for the rights of homeless people, environmental causes, and advancing economic opportunities for street vendors.
Ben & Jerry’s National Grassroots Organizing Program offers grants of up to $30,000 per year to non-profit grassroots constituent-led organizations in the U.S. The company has also mobilized a community action team and an equity and justice program in Vermont.
Novo Nordisk A/S (NYSE:NVO), The Goldman Sachs Group, Inc. (NYSE:GS), and Microsoft Corporation (NASDAQ:MSFT) are some of the most charitable companies along with Ben & Jerry’s.
21. TOMS Shoes
TOMS shoes is a Los Angeles-based shoe company. It also manufactures and sells eyewear, bags, apparel, and other accessories. TOMS shoes was founded by philanthropist Blake Mycoskie in 2006 after he visited Argentina and met a woman who worked for an organization that donated shoes.
TOMS Shoes donates one-third of all its profits to non-profit organizations promoting mental health awareness and anti-gun violence, and also works with Save the Children organization since 2011. In collaboration with the foundation, TOMS has donated over 1 million pairs of shoes to children in eight different countries.
Moreover, for each pair of shoes bought, TOMS donates a pair of shoes to a child.
20. BLQK Coffee
BLQK Coffee is based in California. It was founded in 2020 by super bowl winner, Justin Watson. The company's beans are all sourced from woman-owned farms in Ethiopia. BLQK Coffee focuses on medium roasts for coffee so the customers can enjoy their coffee without any additives.
BLQK Coffee donates 25% of all its profits to charity or underprivileged communities.
19. Patagonia, Inc.
Patagonia, Inc, is a California-based outdoor clothing retailer. From 1985-2021, the company donated 1% of its revenue toward environmental issues. It has donated over $140 million to domestic and international organizations working towards the betterment of the environment.
Patagonia, Inc.’s new tagline is “Earth is now our only shareholder.” In 2022, Yvon Chouinard, the founder of the company, said that all of the company's profit not reinvested in running the business will go toward the fight against climate change. According to Chouinard, the annual donation will amount to approximately $100 million.
18. Two Blind Brothers
Two Blind Brothers is a luxury clothing line that was founded by brothers Bradford and Bryan Manning. The founders were diagnosed with blindness causing eye diseases, which is why the company is on a mission to fight retinal diseases.
All the profits of Two Blind Brothers are donated toward research to cure blindness. The company’s funding efforts have helped develop a successful gene therapy for Leber's Congenital Amaurosis.
17. Cotopaxi
Cotopaxi manufactures and sells outdoor gear and apparel for men, women, and children. All of the materials that the company uses to manufacture its products are ethically sourced and the company is Climate Neutral Certified for the last two years.
Through Cotopaxi Foundation, the company has dedicated 1% of its annual revenue to non-profits that help alleviate poverty. It focuses on the poorest communities living in Latin America. Cotopaxi has a significant relationship with Care Ecuador, a nonprofit fighting for gender equity and community resilience in Ecuador.
16. OneHope
OneHope is a California-based wine-s
elling company. It was founded in 2007 by Jake Kloberdanz as a social enterprise after he saw one of his childhood friends get diagnosed with non-Hodgkin's lymphoma.
OneHope supported over 10,000 non-profits and donated over $2 million in 2021. In the same year, the company started its second non-profit school in Laos, where only 15% of the adults are literate. The company gives back 10% of every purchase to the cause of the customer’s choice.
OneHope’s main focuses are local communities, education, health, clean water, and hunger eradication. It has donated over $9 million to date.
15. Build-A-Bear Workshop, Inc. (NYSE:BBW)
Since 2004, Build-A-Bear Workshop, Inc. (NYSE:BBW) has donated $22 million worth of stuffed toys to children in need. Partnering with First Book, the company launched a Literacy Charity Program that donates books to children in need. The goal is to donate at least 125,000 books in 2022. Through The Hearts ‘n’ Hugs Fund, Build-A-Bear Workshop, Inc. (NYSE:BBW) donates teddy bears to children who have experienced natural calamities, illnesses, and the ones living in foster care.
Build-A-Bear Workshop, Inc. (NYSE:BBW) also has partnered with other charitable organizations like Make-A-Wish Foundation, Toys for Tots, Shriners Children's, WellChild, American Red Cross, and several other charitable organizations to help deserving children.
During the COVID-19 pandemic, Build-A-Bear Workshop, Inc. (NYSE:BBW) has donated over $250,000 in relief efforts and given away over 50,000 teddy bears to children.
14. Bank of America Corporation (NYSE:BAC)
Bank of America Corporation (NYSE:BAC) is one of the largest banking organizations in the United States. It is headquartered in North Carolina. It is one of the most charitable companies in the U.S. and was considered the “Best Workplace for Giving Back” by Fortune in 2018.
Through the Bank of America Charitable Foundation, Bank of America Corporation (NYSE:BAC) helps people get access to healthcare, provides support to the homeless, helps individuals get education and employment, and provides affordable housing along with several other charitable missions.
Through its Matching Gifts Program, each Bank of America Corporation (NYSE:BAC) employee is eligible to double their donation of up to $5000 to non-profits of their choice. The firm provides $25 million worth of matching gifts each year.
13. General Electric Company (NYSE:GE)
General Electric Company (NYSE:GE) is an American conglomerate focusing on healthcare, aviation, power, and renewable energy.
General Electric Company (NYSE:GE) is one of the most charitable companies due to its GE Foundation. The company provides funds and resources to engineers and innovators through the Next Engineers program. Furthermore, since 1984, GE STAR Awards program provides competitive scholarships to children of General Electric Company (NYSE:GE) employees worldwide. Since its inception, the program has provided 15,000 awards worth $21 million.
General Electric Company (NYSE:GE)’s GE Foundation Matching Gifts program has been running since 1954. The foundation matches the donations of its employees ranging between $25 and $5,000. The company has matched over $1.5 billion worth of its employees’ philanthropic efforts since the initiation of the program.
12. Alphabet Inc. (NASDAQ:GOOG)
Alphabet Inc. (NASDAQ:GOOG) is an American conglomerate and is one of the Big Five American tech companies. It is one of the most valuable companies in the world.
Alphabet Inc. (NASDAQ:GOOG) has an open call for social and nonprofit organizations through google.org to help with advancements in climate innovation through AI, machine learning, and other digital tools. Moreover, it has supported organizations with over $45 million to help refugees and displaced people.
Alphabet Inc. (NASDAQ:GOOG) not only provides support through money but also through pro bono hours. For racial justice, the company has provided over 50,000 pro bono hours and over $40 million since 2015. During the COVID-19 pandemic, Alphabet Inc. (NASDAQ:GOOG) has provided over $100 million and 50,000 pro bono hours toward relief efforts.
11. The Walt Disney Company (NYSE:DIS)
Through Next Generation Investments, The Walt Disney Company (NYSE:DIS) provides scholarships, mentorships, and skill-building opportunities to children and young adults. Moreover, it provides education in different fields for children.
The Walt Disney Company (NYSE:DIS)’s Disney Conservation Fund believes in “Protecting the Magic of Nature Together” and has donated over $120 million in planetary conservation efforts since 1995.
The Walt Disney Company (NYSE:DIS) is one of the most charitable companies and over the years, it has supported natural disaster responses and recovery efforts, made efforts to reduce world hunger, and supported children to gain access to sports. Additionally, The Walt Disney Company (NYSE:DIS) donated $294 million in 2021 to the underprivileged global community and has granted 145,000 wishes to critically ill children with the help of the Make-A-Wish Foundation.
10. Chevron Corporation (NYSE:CVX)
Chevron Corporation (NYSE:CVX) is a descendant of Standard Oil and is one of the largest energy companies in the world. It is headquartered in California and has over 42,000 employees.
Chevron Corporation (NYSE:CVX) matches the charitable gifts of up to $10,000 made by its employees. Moreover, retirees can also avail the offer and can request to match up to $3000 worth of charitable gifts.
Chevron Corporation (NYSE:CVX) also supports advancements in STEM education, works toward racial and social equity in education, and invests in workforce training. Additionally, the company invests in Kazakhstan to fund social projects in Atyrau Oblast and has provided close to $2 billion since 1993. Chevron Corporation (NYSE:CVX) also helps the Brazilian community to reduce school dropout rates and improve academic performance.
9. JPMorgan Chase & Co. (NYSE:JPM)
JPMorgan Chase & Co. (NYSE:JPM) is an American investment bank and financial services firm. It is the largest bank in the United States and the fifth-largest bank in the world by assets. JPMorgan Chase & Co. (NYSE:JPM) is one of the most charitable companies in the world.
JPMorgan Chase & Co. (NYSE:JPM) has pledged to donate $30 billion to close the racial wealth gap. Moreover, the firm announced a $150 million investment in Black, Hispanic and Latino-owned and led Minority Depository Institutions.
JPMorgan Chase & Co. (NYSE:JPM) has also launched Second Chance Agenda, a program that allows people with criminal backgrounds to re-enter the workforce and give them a second chance at life.
8. Starbucks Corporation (NASDAQ:SBUX)
Through its foundation, Starbucks Corporation (NASDAQ:SBUX) announced a $30 million investment by 2030 in Global Community Impact Grants. The grants will be provided to non-profits to help them make a substantial positive impact in their respective communities.
In 2019, Starbucks Corporation (NASDAQ:SBUX) gave out grants worth $5 million to 2,500 organizations in the U.S. and Canada for its Neighborhood Grants program. In addition, the company donated $200,000 toward Lebanon disaster relief efforts in collaboration with Alshaya Group in 2020.
During the COVID-19 pandemic, Starbucks Corporation (NASDAQ:SBUX) contributed over $9 million towards pandemic response efforts. In September, the company also announced its Student Loan Management Benefit to help its employees with student loan management, making Starbucks Corporation (NASDAQ:SBUX) one of the most charitable companies.
7. Gilead Sciences, Inc. (NASDAQ:GILD)
Gilead Sciences, Inc. (NASDAQ:GILD) is a biopharmaceutical company that focuses on developing antiviral drugs.
Gilead Sciences, Inc. (NASDAQ:GILD) allows non-profit organizations to request grants for HIV/AIDS, liver diseases, hematology, oncology, and respiratory diseases. The grant applications are open throughout the year. Gilead Sciences, Inc. (NASDAQ:GILD) primarily focuses on HIV. For that purpose, it initiated Zeroing In: Ending the HIV Epidemic through which it supports 116 organizations across 47 countries fighting for the cause.
In July, Gilead Sciences, Inc. (NASDAQ:GILD) announced an $85 million contribution to Gilead Foundation to help create a healthier society.
6. Exxon Mobil Corporation (NYSE:XOM)
Exxon Mobil Corporation (NYSE:XOM) operates the ExxonMobil Foundation which focuses on STEM education, economic opportunities for women, and malaria prevention.
Exxon Mobil Corporation (NYSE:XOM) has been working on malaria prevention for the last 22 years. Between 2000 and 2020, the company’s foundation contributed over $170 million to the cause.
Exxon Mobil Corporation (NYSE:XOM) has worked towards women’s economic growth since 2005. It has donated over $120 million in 90 countries toward the betterment of the health, education, and financial well-being of women. In 2018, the company celebrated the graduation of 1,000 women through its Business Women Connect program.
Exxon Mobil Corporation (NYSE:XOM)’s education program supports students interested in STEM education. The company’s charity foundation has contributed over $1.25 billion toward the program since its inception in 2000.
Exxon Mobil Corporation (NYSE:XOM) makes it to our list of most charitable companies along with the likes of Novo Nordisk A/S (NYSE:NVO), The Goldman Sachs Group, Inc. (NYSE:GS), and Microsoft Corporation (NASDAQ:MSFT).
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Disclosure: None. 22 Most Charitable Companies in 2022 is originally published on Insider Monkey.
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