Forbes has found that this comes as no surprise as brand reputation is vital during a downturn. The top three givers in 2008, according to Forbes, are:

1. Wal-Mart, with USD320 mill
2. Bank of America, with USD215 mill
3. Exxon Mobil, with USD188 mill

Altogether, the top ten corporations, most of which are large enterprises, contributed USD1.67 bill to charities. Forbes also measured 'true generosity' by comparing total giving in cash and products during 2008 to total profits from 2007.

By this measure, Merck & Company was the most generous, handing out USD821 mill in cash and products in 2008. That was equal to 24.4% of its 2007 profits. When ranked this way, drug and biotechnology companies took five of the top 10 slots, the other four being:

• Pfizer (20.4%)
• Abbott Laboratories (10.1%)
• Bristol-Meyers Squibb (10.0%)
• Eli Lilly and Company (9.0%)

Of the USD821 mill Merck donated, only USD55 mill was in cash. Pfizer gave USD1.9 bill, out of which USD76 mill was cash.

Forbes' rankings are based on data compiled by the Chronicle of Philanthropy, the trade journal for nonprofit organizations. The Chronicle researched and surveyed 196 of the biggest companies, by revenues, in the USA.