ContractsProf Blog

Editor: Myanna Dellinger
University of South Dakota School of Law

Friday, October 29, 2010

"God loves a cheerful giver"; India doesn't care about the "cheerful" part

1908RandallCountyCourthouseCanyonTexas907TJnsn Giving away money to worthy causes is a good thing.  Such a good thing, apparently, that the Indian government has decided to make it mandatory.  The government has instituted a rule that requires Indian corporations to give 2 percent of their net income to "philanthropy."

In the U.S., corporate philanthropy tends to go disproportionately to elite institutions like art museums, opera houses, and universities, rather than to grass-roots level programs.  It will be interesting to see how much of this new philanthropy will go toward addressing poverty, and how much to the country‚Äôs elite institutions.

FGS (quoting 2 Corinthians 9:7)

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