This article examines the rapidly expanding movement to professionalize the corporate contributions function, linking giving to special events in sports and the arts, and the pressures to reorient philanthropy into a bottom-line function. Philanthropy has become big business. Sponsorship of sports events, concerts, and festivals has become an $850 million industry with more than 1600 corporate participants. Corporate sponsorships of sporting events have tripled in the past two years alone. Additionally, businesses contribute more than $500 million annually to the arts, representing a four-fold increase in the past decade. The management of corporate philanthropy has become an integral component of the strategic-planning process.
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