Jessica Marshall, the CEO of ABD Oil Drilling Inc., decides to set aside an amount of $10,000 from the company's annual profits to donate to local nonprofit organizations although the company already meets the mandated government requirement of contributing 4 percent of the company's revenue for social benefits. This donation by ABD Oil Drilling Inc. is an example of:

Question

Quizplus · Accepted Answer

Corporate philanthropy refers to the act of a corporation donating some of its profits or resources to charitable causes, which is what ABD Oil Drilling Inc. is doing by setting aside $10,000 for local nonprofit organizations.