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Transparency in Giving
In 2010, Johnson & Johnson contributed $108 million in cash to organizations in the U.S. and abroad. This included $11.3 million allocated through the Company’s Matching Gifts program. Johnson & Johnson double matched contributions made by employees, and matched one-for-one contributions made by retirees up to $10,000 to qualified non-profit 501(c)(3) organizations in the U.S.
Johnson & Johnson companies also made $495.3 million in non-cash contributions in 2010. Product donations are reported at fair market value, which is consistent with reporting methods of nonprofit organizations. Of this total, $423.2 million of selected pharmaceutical products was contributed to needy patients in the U.S. Over the past three years, our companies provided almost 3 million units of medicine to nearly half a million U.S patients. The balance of non-cash contributions went to private voluntary organizations that assist medically underserved people in developing countries and provide emergency disaster relief.
Total Giving as a Percent of Pretax Income
The Company manages its Contributions program within guidelines approved by the Johnson & Johnson Executive Committee. In 2010, total giving of $603.3 million represented an increase of about 3 percent above 2009 giving of $588.1 million dollars, consistent with our continuing commitment to our philanthropic and patient assistance programs. Our budget is established well before the start of each fiscal year; our giving as a percent of year-end pretax income thus varies from year to year, as fluctuation in year-end pretax income become apparent. For 2010, our giving represented 3.6 percent of annual worldwide pretax income.