Wednesday, July 17, 2013

Wells named America's top corporate donor

Wells Fargo was named the country's most generous corporate donor for its charitable giving last year, according to the The Chronicle of Philanthropy.

The bank gave away about $316 million over the year, more cash than any of the companies surveyed, Forbes reports. That comes to 1.3 percent of its pre-tax profits of the year before. Wells gave away $15.6 million in North Carolina last year, the bank said.

Bank of America came in No. 7 on the list, giving away about $183 million. The bank lost money in 2011.

Over all of Corporate America, charitable giving was fairly flat. The figure grew 2.7 percent last year, to $5.3 billion, according to the Chronicle's survey of the 300 largest companies.