Wal-Mart named ''Largest Corporate Cash Giver''

Wal-Mart has been recognized as the "Largest Corporate Cash Giver" by Forbes magazine.

In 2002, Wal-Mart''s cash contributions increased 17% to $136 million. At that time, donations to the 400 largest charities dropped to $46.9 billion from $47.5 billion, a total of 1.2%. The magazine cited The Chronicle of Philanthropy''s annual survey based on sales and cash donations for 2002.

"At Wal-Mart, we feel that when times are tough for our customers, that''s when they need us the most," stated Betsy Reithemeyer, director of the Wal-Mart/Sam''s Club Foundation. "Through giving, helping and doing, Wal-Mart is helping to raise the standard of living in our communities, which is the premise of Wal-Mart''s existence."