Peninsula, Valley firms are strong givers, study finds

Companies in Silicon Valley, including San Mateo County, are likely “on par” with companies nationally in charitable giving, according to a study released this morning by the Silicon Valley Community Foundation.

“For a long time, Silicon Valley had this rap as the land of the cyber-stingy,” said Peter Hero, senior advisor to the foundation, which commissioned a survey of 100 companies, most in information technology, professional services and finance. “In point of fact, people living in Silicon Valley are about as generous as people nationally.”

By some measures, the studied companies may give more than their counterparts nationwide, according to the study. The firms surveyed gave, on the median, 1 percent of revenue and 3 percent of profit, compared with 0.1 percent and 0.9 percent for those same medians in the Corporate Giving Standards 2006 national study of charitable giving. That study is frequently quoted as rating median total giving of 100 companies at $29 million each — but that study of 100 firms includes 40 Fortune 100 companies, whereas SVCF’s study included small businesses such as restaurants.

The study included 13 San Mateo County companies, including Genentech Inc. (DNA), Electronic Arts Inc. (ERTS) and the restaurant 231 Ellsworth. The remaining companies were based in Santa Clara County, where the study was originally commissioned prior to the merger of two charitable foundations to found SVCF in 2006.

The largest recipients of corporate giving by companies in the study were, in order, health and human services, education, civic and community groups, arts and culture and the environment, but companies reported a planned increase in giving to education and the environment, and a recent decrease in giving to arts and culture.

The full report is important because companies around the world look to the example Silicon Valley sets, SVCF CEO and President Emmett Carson said. The report is available online at http://www.siliconvalleycf.org/ .

businessBusiness & Real Estate

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Giants second baseman Donovan Solano scores on a double in the seventh inning against the Dodgers at Oracle Park on July 29. (Chris Victorio/Special to The Examiner)
Will the Giants make the playoffs? Kris Bryant may be the answer

By Chris Haft Special to The Examiner You’d be hard-pressed to find… Continue reading

Tiffany Carter, owner of Boug Cali West Coast Creole Shack in San Francisco’s La Cocina Marketplace, was dismayed by gentrification she found when she returned to her hometown to start a business. (Kevin N. Hume/The Examiner)
SF Black Wallstreet: Helping residents build wealth, reclaim spaces they’ve had to leave

Tiffany Carter moved back to her hometown of San Francisco five years… Continue reading

A prescribed fire at Sequoia and Kings Canyon National Parks was conducted in June 2016 to reduce hazardous fuel loading, increase watershed health, and restore the natural fire cycle in the Redwood Canyon area ecosystem. (Photo courtesy Rebecca Paterson/National Park Service)
Experts, UC scientists discuss wildfires in the state’s riskiest regions

Wildfires are nothing new in California’s history, but the magnitude and frequencies… Continue reading

Fourth-grade students at Lucerne Valley Elementary School don masks and Western wear for a “Walk Through California” history day during in-person instruction. (Courtesy of Krystal Nelson)
Confusion over mask mandate for California schools sparks tension between districts and parents

By Diana Lambert EdSource Shifting rules around mask mandates at schools are… Continue reading

Steven Buss, left, and Sachin Agarwal co-founded Grow SF, which plans to produce election voter guides offering a moderate agenda. (Kevin N. Hume/The Examiner)
Grow SF: New tech group aims to promote moderate ideals to political newcomers

Sachin Agarwal has lived in San Francisco for 15 years. But the… Continue reading

Most Read