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“Nonprofits Wait to Learn Depth of Oklahoma City-Based Chesapeake’s Planned Spending Cuts”

Filed by KOSU News in State Impact.
January 10, 2013

In an effort to reduce overall spending, Chesapeake Energy has announced plans to cut back on charitable spending. The company won’t say how much it might curtail donations, and Oklahoma nonprofits are understandably anxious.

Chesapeake’s SEC filing on Monday did not reveal how much it spends on charitable giving, trade associations and lobbying, but the report states Chesapeake intends to “significantly” reduce its budget in those areas. Chesapeake donated $31 million to charity in 2011, according to its 2011 annual report released in May. The Center for Responsive Politics shows Chesapeake spent $1.3 million on federal lobbying in the first three quarters of 2012.

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