Americans are increasingly getting involved with causes that are important to them, as detailed in the recent Giving USA 2013 report. Charitable giving* rose 3.5% in 2012 to $316.2 billion, with the single largest year-over-year influencer being the additional $8.7 billion in gifts made by individuals. In addition, nearly a third of adults in the United States volunteer within an organization, and corporate philanthropy reached over $18 billion in 2012, which was a 12% increase over the previous year.
Profits with a Purpose
American Century Investments® is a leading example of the corporate philanthropy trend. More than 40% of American Century Investments’ profits support research to help cure genetically based diseases including cancer, diabetes and dementia. American Century Investments founder Jim Stowers, Jr., and his wife, Virginia—both cancer survivors—founded and endowed the Stowers Institute for Medical Research, a world-class biomedical research organization dedicated to improving quality of life by researching and uncovering the causes, treatment, prevention and cure of genetically based diseases.
American Century Investments paid nearly $1 billion in stock dividends to the institute over the past decade. Over the next decade, the Stowerses endowed the institute with gifts totaling almost $2 billion, placing these visionary philanthropists in the top ranks of the world’s most generous givers. Read more.
“When I look ahead, I feel enormous optimism and hope, for investors with American Century Investments and for the help and hope we want to provide to humanity through medical research and discovery. Never have I been so confident that, truly, the best is yet to be.”
Jim Stowers, Jr., Founder, American Century Investments
- Charitable giving in the U.S. rose to $316 billion in 2012.
- American Century Investments directed more than 40% of its annual profits (nearly $1 billion in last decade) to the Stowers Institute for Medical Research, which seeks to help cure genetically-based diseases including cancer, diabetes and dementia.
- Over the next decade, the Stowerses endowed the institute with gifts totaling almost $2 billion.
- 473 organizations were supported by charitable giving by American Century Investments employees in 2012, and 68% of employees participate in company-sponsored events (42 organizations supported by company volunteers).
*Total charitable giving by U.S. individuals, foundations, estates and corporations.