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By John Godfrey

The end of corporate philanthropy was predicted in a post on the��Forbes Leadership Forum. Paul Klein, who heads business and civil sector consulting group Impakt, encourages any corporations who are giving away their hard-earned dollars to charity to stop.

Klein, admittedly, doesn’t go as far as Milton Friedman famously did, saying that the only responsibility of a business was to make a profit, or as Jamie Whyte implied even more stingingly in the��Wall Street Journal, “Corporate philanthropy is theft.” However, Klein spares no punches when it comes to charities. He recommends they “can address the loss of 5% of their revenue by reducing costs, improving efficiency.” (Those who argue that��charities should spend more��on overheads will wince at that uppercut.) The five-percent figure quoted is the corporate contribution to nonprofit income.