Sunday, November 19, 2000
What's the Buzz?
P&G gave $39M to charity in past year
Procter & Gamble Co. contributed $39.1 million to charitable causes in the fiscal year ended June 30, both through its charitable foundation and corporate support.
The just-completed annual report of the Procter & Gamble Fund shows the biggest single piece of that money — $14.3 million — went to colleges and schools around the country.
The report also shows promotion-related donations of $5.6 million, product donations of $3.9 million, and costs for loaned executives of $610,000.
“We've always focused on education,” said Carol Talbot, vice president and trustee of the P&G Fund. “First of all, it makes the world a better place to live when people are educated. It's also in our enlightened self-interest to have an educated work force ... and when people can afford to buy the products we sell.”
About $27.3 million of the P&G money was routed through the P&G Fund, the nonprofit entity that recently completed its year-end tax report.
The rest came directly from the corporation in some form.
Last year, Cincinnati-based P&G contributed $13.1 million to the fund, which earned interest of $404,558.
Many of the biggest individual recipients were local. Gifts included $625,000 to the Cincinnati Institute of Fine Arts (which runs the Fine Arts Fund), $600,000 to the National Underground Railroad Freedom Center, $520,000 to a University of Cincinnati honors program and $300,000 to Xavier University.
—Cliff Peale
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