26 Companies that Donate to Nonprofits

In this piece, we will take a look at the 26 companies that donate to nonprofits. For more companies, head on over to 5 Companies that Donate to Nonprofits.

Corporate greed is always a popular topic in the press. And, firms are to blame for some extent as well. There are well known examples of tax evasion, through which multinationals such as Apple Inc. (NASDAQ:AAPL) and Alphabet Inc. (NASDAQ:GOOG) have been caught funneling their profits through low tax jurisdictions such as Ireland to take advantage of low tax rates. In fact, Apple’s variation of the popular Double Irish tax evasion scheme led to the company being fined a whopping 13.5 billion Euros by the European Commission for tax evasion – a decision that was later overturned by a court.

The Double Irish used to be a popular tax minimization approach from U.S. companies through which they would set up two different entities in Ireland, one in an EU country, and another one in a tax free jurisdiction such as Bermuda. The U.S. corporation would develop technology in its home country, sell it to the Bermuda arm, which would mark it up as an asset and license it to the first Irish company, which would license it to the EU branch for it to further license it to the second Irish company which would then sell the product to the customer. The resulting income from the sale would be parked in Bermuda, and lent out to the U.S. based company enabling it to avoid taxes – hence the term ‘Double Irish’ due to the two Irish entities.

To improve their public image, contribute to society, and attract customers, corporations such as Apple also have generous donation programs through which they match employees’ charitable contributions. These contributions have been on the uptick lately, with data from National Philanthropic Trust showing that corporate giving stood at $21 billion by 2021 end, for a heartwarming 23.8% annual increase. Of course, as the Harvard Business Review notes, charitable giving also provides firms with a competitive advantage, as firms use some, particularly sponsorships, to highlight their brand. The Review uses the example of Philip Morris International Inc. (NYSE:PM) to point out that while the firm spent $75 million in charitable contributions in 1999, it spent another $100 million to advertise them as well.

Today, we’ll look at more than a handful of companies that donate to nonprofits, with some of these being Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG).

26 Companies that Donate to Nonprofits

Pixabay/Public domain

Our Methodology

We started off by finding as many companies as we could with nonprofit donation initiatives. This allowed us to compile a list of close to 50 publicly traded firms. Then, they were sorted through hedge fund sentiment courtesy of Insider Monkey’s 943 fund survey for Q4 2022 – and the top picks are listed.

26 Companies that Donate to Nonprofits

26. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders in Q4 2022: 48

Target Corporation (NYSE:TGT) is an American retailer that was set up in 1902 and is headquartered in Minneapolis, Minnesota. The firm has close to two thousand stores in the U.S.

Target Corporation (NYSE:TGT)’s nonprofit spending targets at risk and vulnerable communities alongside law enforcement training. Insider Monkey’s Q4 2022 survey of 943 hedge funds revealed that 48 had bought the firm’s shares, out of which, Ken Fisher’s Fisher Asset Management is the retailer’s largest shareholder with a $759 million stake that comes via 5 million shares.

Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Alphabet Inc. (NASDAQ:GOOG) are met by Target Corporation (NYSE:TGT) as a firm that donates to nonprofits.

25. Southwest Airlines Co. (NYSE:LUV)

Number of Hedge Fund Holders in Q4 2022: 51

Southwest Airlines Co. (NYSE:LUV) is an American airline headquartered in Dallas, Texas. Its nonprofit programs focus on military families, disaster response, medical transportation, and other causes.

Insider Monkey took a look at 943 hedge fund portfolios for their December quarter of 2022 investments to find out that 51 had bought a stake in the company. Southwest Airlines Co. (NYSE:LUV)’s largest investor is Israel Englander’s Millennium Management which owns 3.9 million shares that are worth $131 million.

24. Delta Air Lines, Inc. (NYSE:DAL)

Number of Hedge Fund Holders in Q4 2022: 51

Delta Air Lines, Inc. (NYSE:DAL) is another American airline and one that is headquartered in Georgia. The firm operates its Force For Global Good charitable project alongside others.

51 of the 943 hedge funds polled by Insider Monkey for last year’s fourth quarter had held a stake in Delta Air Lines, Inc. (NYSE:DAL). Jim Simons’ Renaissance Technologies is Delta Air Lines, Inc. (NYSE:DAL)’s largest investor with a $325 million stake that comes via 9.8 million shares.

23. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders in Q4 2022: 56

Verizon Communications Inc. (NYSE:VZ) is an American telecommunications carrier headquartered in New York. Its charitable foundation is the Verizon Foundation.

By the end of 2022’s December quarter, 56 of the 943 hedge funds polled by Insider Monkey had bought Verizon Communications Inc. (NYSE:VZ)’s shares. Out of these, the firm’s largest investor is Ric Dillon’s Diamond Hill Capital which owns 6.7 million shares that are worth $266 million.

22. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders in Q4 2022: 57

Chevron Corporation (NYSE:CVX) is one of the biggest oil companies in the world. It provides nonprofit funding based on employee hours spent volunteering.

Insider Monkey dug through 943 hedge fund portfolios for last year’s fourth quarter and found out that 57 had held a stake in the firm. Chevron Corporation (NYSE:CVX)’s largest investor in our database is Warren Buffett’s Berkshire Hathaway 162 million shares that are worth $29 billion.

21. The Coca-Cola Company (NYSE:KO)

Number of Hedge Fund Holders in Q4 2022: 58

The Coca-Cola Company (NYSE:KO) is one of the largest beverage companies in the world. It matches employee donation at a two to one ratio to nonprofits.

As part of their Q4 2022 investments, 58 of the 943 hedge funds part of Insider Monkey’s study had bought The Coca-Cola Company (NYSE:KO)’s shares. Warren Buffett’s Berkshire Hathaway is the firm’s largest shareholder with a $29 billion stake that comes via 162 million shares.

20. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders in Q4 2022: 59

General Electric Company (NYSE:GE) is an American industrial equipment company. It has a philanthropic arm and matches employee contributions.

Insider Monkey took a look at 943 hedge fund portfolios for last year’s December quarter and found out that 59 had bought the firm’s shares. General Electric Company (NYSE:GE)’s largest investor is Richard S. Pzena’s Pzena Investment Management which owns 13.2 million shares that are worth $1.1 billion.

19. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders in Q4 2022: 61

Starbucks Corporation (NASDAQ:SBUX) is a specialty coffee beverage chain. The firm provides grants to nonprofits and makes its employees eligible for volunteer work.

61 of the 943 hedge funds surveyed by Insider Monkey during Q4 2022 had bought Starbucks Corporation (NASDAQ:SBUX)’s shares. The firm’s largest shareholder in our database is Ken Fisher’s Fisher Asset Management which owns 10 million shares that are worth $1 billion.

18. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders in Q4 2022: 62

The Home Depot, Inc. (NYSE:HD) is an American home improvement retailer. It matches employee donations to nonprofit organizations,

Insider Monkey dug through 943 hedge funds for the fourth quarter of last year and found out that 62 had bought The Home Depot, Inc. (NYSE:HD)’s shares. Ken Fisher’s Fisher Asset Management is the company’s largest investor in our database. It owns 8.2 million shares that are worth $2.6 billion.

17. Hilton Worldwide Holdings Inc. (NYSE:HLT)

Number of Hedge Fund Holders in Q4 2022: 63

Hilton Worldwide Holdings Inc. (NYSE:HLT) is a hospitality firm with several hotels in its portfolio. It also matches employee donations to nonprofits.

By the end of 2022’s December quarter, 63 of the 943 hedge funds polled by Insider Monkey had invested in the company. Out of these, Hilton Worldwide Holdings Inc. (NYSE:HLT)’s largest investor is Bill Ackman’s Pershing Square which owns 10 million shares that are worth $1.2 billion.

16. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders in Q4 2022: 66

Walmart Inc. (NYSE:WMT) is the world’s largest brick and mortar retail chain. It donates more than a billion dollars annually through grant awards.

66 of the 943 hedge funds part of Insider Monkey’s Q4 2022 study had bought Walmart Inc. (NYSE:WMT)’s shares. The firm’s largest investor in our database is Ken Fisher’s Fisher Asset Management which owns 8.4 million shares that are worth $1.1 billion.

15. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders in Q4 2022: 66

Costco Wholesale Corporation (NASDAQ:COST) is another American retailer. The firm matches donations of up to $10,000 by select employees.

As part of their final quarter of 2022 investments, 66 of the 943 hedge funds surveyed by Insider Monkey had held a stake in the retailer. Out of these, Costco Wholesale Corporation (NASDAQ:COST)’s largest shareholder is Ken Fisher’s Fisher Asset Management which owns 2.5 million shares that are worth $1.1 billion.

14. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders in Q4 2022: 67

ConocoPhillips (NYSE:COP) is an American oil company. It has a $10,000 annual donation matching program.

Insider Monkey dug through 943 hedge fund holdings for last year’s fourth quarter and found out that 67 had bought ConocoPhillips (NYSE:COP)’s shares. Ken Fisher’s Fisher Asset Management is the company’s largest investor with a $814 million stake that comes via 6.9 million shares.

13. Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders in Q4 2022: 70

Cisco Systems, Inc. (NASDAQ:CSCO) is a communications equipment provider based in California. The firm has a generous donation project through which it matches up to $25,000 in employee donations.

By the end of 2022’s final quarter, 70 of the 943 hedge funds polled by Insider Monkey had invested in the company. Cisco Systems, Inc. (NASDAQ:CSCO)’s largest shareholder is Josh Overdeck and David Siegel’s Two Sigma Advisors which owns 9.5 million shares that are worth $455 million.

12. CVS Health Corporation (NYSE:CVS)

Number of Hedge Fund Holders in Q4 2022: 70

CVS Health Corporation (NYSE:CVS) is an American healthcare and pharmaceutical retailer. It awards employees with grants to employees who volunteer.

Insider Monkey dug through 943 hedge funds for their Q4 2022 investments and discovered that 70 had bought the firm’s shares.Cliff Asness’ AQR Capital Management  is CVS Health Corporation (NYSE:CVS)’s largest hedge fund shareholder with a $396 million stake that comes via 4.2 million shares.

11. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders in Q4 2022: 71

NIKE, Inc. (NYSE:NKE) is an athletic apparel manufacturer. The firm offers volunteer credits to employees and matches their donations.

71 of the 943 hedge funds surveyed by Insider Monkey during 2022’s final quarter had invested in NIKE, Inc. (NYSE:NKE). The firm’s largest investor is Ken Fisher’s Fisher Asset Management which owns nine million shares that are worth $1 billion.

10. The Goldman Sachs Group, Inc. (NYSE:GS)

Number of Hedge Fund Holders in Q4 2022: 74

The Goldman Sachs Group, Inc. (NYSE:GS) is an investment bank headquartered in New York, New York. The firm matches up to $20,000 in employee contributions to nonprofits annually.

As of last year’s fourth quarter, 74 of the 943 hedge funds polled by Insider Monkey had bought the investment bank’s shares. Out of these, Ken Fisher’s Fisher Asset Management is The Goldman Sachs Group, Inc. (NYSE:GS)’s largest shareholder with a $1.9 billion stake that comes via 4.9 million shares.

9. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders in Q4 2022: 84

Johnson & Johnson (NYSE:JNJ) is one of the oldest healthcare companies in the world. It has a matching gift program that covers up to $12,500 in donations annually.

84 of the 943 hedge funds covered by Insider Monkey owned a stake in Johnson & Johnson (NYSE:JNJ) during Q4 2022. Ken Fisher’s Fisher Asset Management is its largest shareholder with a $1 billion stake courtesy of six million shares.

8. Intuit Inc. (NASDAQ:INTU)

Number of Hedge Fund Holders in Q4 2022: 92

Intuit Inc. (NASDAQ:INTU) is a software as a service (SaaS) company headquartered in Mountain View, California. It matches employee fundraising for nonprofits and doubles funds raised for charitable activities.

As of 2022’s fourth quarter, 92 of the 943 hedge funds part of Insider Monkey’s research had invested in the firm. Intuit Inc. (NASDAQ:INTU)’s largest investor in our database is Ken Fisher’s Fisher Asset Management which owns 2.4 million shares that are worth $939 million.

7. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders in Q4 2022: 99

Adobe Inc. (NASDAQ:ADBE) is an American software company. It makes grants for employee volunteer work, which stretch up to $25,000 for group volunteering.

99 of the 943 hedge funds surveyed by Insider Monkey had bought Adobe Inc. (NASDAQ:ADBE)’s shares during Q4 2022. Out of these, Ken Fisher’s Fisher Asset Management is the firm’s largest shareholder as it owns five million shares that are worth $1.7 billion.

6. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders in Q4 2022: 99

The Walt Disney Company (NYSE:DIS) is an entertainment company. The firm makes monetary donations to nonprofits.

Insider Monkey dug through 943 hedge funds for their Q4 2022 investments and found out that 99 had invested in the firm. The Walt Disney Company (NYSE:DIS)’s largest investor is Nelson Peltz’s Trian Partners which owns nine million shares that are worth $784 million.

Amazon.com, Inc. (NASDAQ:AMZN), The Walt Disney Company (NYSE:DIS), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG) are some firms that donate to nonprofits.

Click to continue reading and see 5 Companies that Donate to Nonprofits.

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Disclosure: None. 26 Companies that Donate to Nonprofits is originally published on Insider Monkey.