Big companies boost charitable gifts; Outpouring of support follows 9/11; many plan increases for this year, too.(Brief Article)

Crain's New York Business, August, 2002 by Souccar, Miriam Kreinin

Last year, MetLife increased charitable giving by more than 20%. This year, it's upping it an additional 12%. Citigroup has plans to increase donations by almost 4%, after an 18% increase last year. American Express Co., hit hard by a drop in travel after Sept. 11, still managed to raise its philanthropic budget 3% last year, and is budgeting 6% more for 2002.

Usually the first expense to go in a recession, charitable giving by New York's biggest corporations increased sharply last year, and is on track to grow again this year. ``Despite the weak economy and loss of market capitalization, many of the major corporate givers are not cutting their philanthropic budgets,'' says Gary Steuer, president of the Arts & Business Council Inc. ``They are trying very...

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