Newell Rubbermaid Establishes Corporate Foundation to Expand Impact in Global Communities Builds on Investing in Community initiative with goal of $25 million endowment to support educational programs for children and young adults
ATLANTA, May 10, 2011 /PRNewswire/ -- Newell Rubbermaid today announced the establishment of the Newell Rubbermaid Foundation, a commitment to increase the company's positive impact in the local communities in which it operates throughout the world. With a five-year endowment goal of $25 million, the Foundation will eventually serve as the company's primary vehicle for charitable contributions and will focus on funding educational opportunities for children and young adults.
"After great success with Investing in Community, our first company-wide corporate philanthropy program, the establishment of the Newell Rubbermaid Foundation marks a new milestone in our commitment to become a more impactful corporate citizen," said Mark Ketchum, President and Chief Executive Officer of Newell Rubbermaid.
The Newell Rubbermaid Foundation will target community needs focused on educating and preparing youth and young adults for success in adulthood. The Foundation will build on and support the programs and relationships that Investing in Community has developed, including the Annual Week of Caring and partnerships with Junior Achievement, Quality Care for Children, Skills USA, Kids in Need Foundation and Teach for America. The company has also made strategic contributions to organizations such as United Way and the National Center for Civil & Human Rights. Since 2007, Newell Rubbermaid and its brands have made cash and in-kind product donations benefitting more than 175 nonprofit organizations globally.
Jackie Parker, Vice President of Corporate Philanthropy for Newell Rubbermaid, will serve as President of the newly created Foundation. As a separate entity, the Newell Rubbermaid Foundation will be governed by an advisory board of the company's executive leadership.
"This new platform will help us to better address the societal needs and educational issues impacting the communities where we live and operate," Parker said. "We look forward to playing a larger and more visible role in ensuring our youth and young adults are prepared for successful futures."
Organizations eligible for support from the Newell Rubbermaid Foundation include those whose programs and services meet the strategies of the Foundation and Investing in Community, maintain a current tax-exempt status under Section 501(c)(3) of the Internal Revenue Service Code and are recognized as a public charity under Section 509(a) of the Internal Revenue Service Code.
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2010 sales of approximately $5.8 billion and a strong portfolio of brands, including Rubbermaid®, Sharpie®, Graco®, Calphalon®, Irwin®, Lenox®, Levolor®, Paper Mate®, Dymo®, Waterman®, Parker®, Goody®, Rubbermaid Commercial Products® and Aprica®.
This press release and additional information about Newell Rubbermaid are available on the company's website, www.newellrubbermaid.com.
SOURCE Newell Rubbermaid