Corporate Giving Shows Businesses Care
Jan. 7, 2005 — -- Relief money and in-kind donations continue to pour in from the private sector. The ABC News business unit's survey of America's top publicly traded companies shows that the 62 largest firms in the U.S. have donated $125 million in cash and in-kind.
Individuals are also pitching in, the Red Cross fund-raiser on Amazon.com has raised more than $14 million to date.
Here is a list of some of the companies contributing to relief efforts for the tsunami disaster.
Wal-Mart: Wal-Mart is donating $2 million to the relief efforts directly and plans to set up collection points at all its 3,600 stores and clubs for contributions from customers and employees. Also, Walmart.com and Sams.com will give customers the opportunity to donate online. The money will go to Wal-Mart's Tsunami Relief Fund; the company is still in the process of determining which organization or organizations will receive funds.
Home Depot: Home Depot said Thursday it would donate $500,000 to the American Red Cross International Response Fund. In addition, The Home Depot Foundation is matching individual gifts up to $1,000 from Home Depot employees.
Sears: Sears says it has vendors in Sri Lanka and other areas hit by the disaster and is investigating how to provide assistance. A spokesman said the company's subsidiary Lands' End -- in a commitment made before the Dec. 26 disaster -- is donating about $200,000 of merchandise to International Aid, a nonprofit global relief development and training agency. A portion of that donation will likely reach the tsunami victims, the company says.
American Express: The company will donate $1 million.
American International Group $2.5 million donated by the Star Foundation, the charitable organization of AIG's founder. Star Foundation will match AIG employee donations.
Barclays: Barclays PLC and Barclays Capital (mostly in Asia) are donating 350,000 pounds sterling (approximately $675,000) to the Red Cross and are encouraging employees to also donate to the Red Cross.
Charles Schwab: The Charles Schwab Foundation will donate $10,000 to the American Red Cross and is encouraging employees to contribute by increasing the company match from 50 cents on the dollar to a dollar-for-dollar match.
Citigroup: Citigroup Foundation will provide $3 million in disaster relief aid as well as match employee donations to nonprofit and nongovernmental organizations with a corresponding donation to the Red Cross. Of the $3 million, $1 million will be given to the Red Cross, $1 million to local NGOs in affected countries and $1 million for rebuilding.
Credit Suisse First Boston: CSFB says it will be making a significant donation in the coming days.
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