Send us Feedback

Citigroup (C)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

C » Topics » Charitable Contributions Report

This excerpt taken from the C DEF 14A filed Mar 13, 2007.

Charitable Contributions Report

 

Resolved: The shareholders request that the Company provide a report updated semi-annually,

omitting proprietary information and at reasonable cost, disclosing the Company’s:

 

  1.   Policies and procedures for charitable contributions (both direct and indirect) made with corporate assets;

 

  2.   Monetary and non-monetary contributions made to non-profit organizations operating under Section 501(c)(3) and 501(c)(4) of the

 

67

Table of Contents
 

Internal Revenue Code, and any other public or private charitable organizations;

 

  3.   Rationale for each of the charitable contributions.

 

To the extent reasonable and permissible, the report may include the type of information requested above for the Citigroup Foundation.

 

Citigroup and Citigroup Foundation have made charitable contributions exceeding $560 million since 1998, according to the 2005 Citigroup Citizenship Report.

 

This report may be posted on the company’s website to reduce costs to shareholders.

 

This excerpt taken from the C DEF 14A filed Mar 14, 2006.

Charitable Contributions Report

 

Whereas:

 

Citigroup’s assets belong to its shareholders. The expenditure or distribution of corporate assets, including charitable contributions, should be made so as to advance shareholder interests. Company charitable contributions should have a stated business rationale.

 

Whereas:

 

Company executives exercise wide discretion over the use of corporate assets for charitable purposes.

 

Absent a system of accountability for charitable contributions, Company executives may use Company’s assets for objectives that are not shared by and may be inimical to the interests of the Company and its shareholders, potentially harming long-term shareholder value. [See National Legal and Policy Center, http://www.nlpc.org/cip.asp and Free Enterprise Action Fund, http://www.FreeEnterpriseActionFund.com.]

 

Principles of transparency and accountability should apply to Company charitable contributions. Such disclosure is consistent with public policy in regard to disclosure by publicly-owned companies.

 

Whereas:

 

Citigroup and Citigroup Foundation made charitable contributions exceeding $111 million in 2004, according to the 2004 Citizenship Report.

 

Whereas:

 

Shareholders are entitled to know how their company is spending its funds for charitable purposes.

 

Resolved: That the Company shall provide a report updated semi-annually, omitting proprietary information and at reasonable cost, disclosing the Company’s:

 

1.   Policies and procedures for charitable contributions (both direct and indirect) made with corporate assets;

 

2.   Monetary and non-monetary contributions made to non-profit organizations operating under Section 501 (c)(3) and 501 (c)(4) of the Internal Revenue Code, and any other public or private charitable organizations;

 

3.   Business rationale for each of the charitable contributions;

 

4.   Personnel who participated in making the decisions to contribute; and

 

5.   To the extent reasonably possible, the actual or estimated benefits to the Company and beneficiaries produced by contributions.

 

To the extent reasonable and permissible, the report may include the type of information requested above for the Citigroup Foundation.

 

This report may be posted on the company’s website to reduce costs to shareholders.

 

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 13, 2007
DEF 14A
Mar 14, 2006

RELATED TOPICS for C:

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki