Wal-Mart and Waltons Gave Almost $600M in 2007
Top 10 Organizations for Annual Giving, 2007
(Source: Annual Reports)
BENTONVILLE, Ark., Feb. 25, 2008 – Wal-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.
6 Comments:
Minor editing error needing correction.
"$189 million in 2007. Add that amount to Wal-Mart's $402 million, and Wal-Mart and the Walton Family gave almost $600 billion iin 2007"
Looks like the total is about $600 Million not $600 Billion.
Thanks.
Mark,
Keep bringing good information and analysis together. Forward lots of your posts because they bring hard to find data together as information and knowledge.
David
Money can't buy you love.
Ironically, Walmart has the social equivalent of leprocey despite $4 prescriptions, millions in savings it brings to low income consumers, thousands of jobs it creates, millions in charitable giving, and the outstanding work that Walmart did in the aftermath of Hurricane Katrina to provide food and essentials to flood victims.
Interesting how we make up our minds and will not change them no matter how much information shows that our initial judgement is erroneous or incomplete.
Does anyone know how much Walmart paid in federal taxes last year, or the total tax burden they have? I can't find the number on the web amoung all the "Walmart is evil" pages.
I would add about 2 thirds of their total taxes paid to their charitable giving to determine what their total charitable giving was, since I think about 2/3 of taxes go to charity.
Looks like Wal-Mart paid nearly $7 BILLION in taxes for the 12 months ending 1-31-08.
Income Before Tax 20,198.00
Income After Tax 13,290.00
TAXES = $6,908 Million
This data is from the Income Statement found on Google Finance.
http://finance.google.com/finance?fstype=ii&q=NYSE:WMT
Post a Comment
<< Home