News of BP's departure sends shock waves through Alaska nonprofit world

News on Tuesday that BP is selling its Alaska business to Hilcorp sent ripples not only through the oil industry, but Alaska’s nonprofit world.

Nonprofit executives say that in its 60-year history in Alaska, BP has grown to be a giant in the state’s corporate philanthropy scene, donating more than $4 million last year to Alaska causes, stacking nonprofit boards with its executives and encouraging its employees to volunteer.

By comparison, its successor company, the Houston-based Hilcorp says it donated $315,000 to Alaska charities in 2018.

“BP is absolutely a significant linchpin in our philanthropic sector,” said Cassandra Stalzer of United Way, which counts BP as a major donor. “They have really been a driving force, not just in financial support but through leadership and deep employee engagement.”

Read more: https://www.adn.com/business-economy/energy/2019/08/28/news-of-bps-departure-sends-shock-waves-through-alaska-nonprofit-world/
((Anchorage Daily News)