Aflac Inc. and Chubb Corp. are among a growing number of companies revealing their corporate contributions, some of which may go to nonprofits and trade associations spending millions of dollars on U.S. elections without disclosing their donors.
A study out today found 45 of 88 companies providing information about corporate donations, up from 36 a year earlier.
“A lot of the research shows that the money tends to be squandered following the political biases of the CEO,” said Craig Holman of Public Citizen, a Washington-based advocacy group that favors stronger disclosure rules. “The objective is not to prevent political expenditures; it’s to make sure those expenditures are reasonable and for the benefit of the company itself.”
Columbus, Georgia-based Aflac will start revealing corporate donations to outside groups, said Jon Sullivan, a spokesman. The company’s website said Aflac will report contributions of more than $50,000 to trade groups and other nonprofits.