ATLANTA, May 21, 2013 /PRNewswire/ -- The Home Depot® Foundation, the philanthropic arm of The Home Depot, today announced it has created a $1 million weather impact fund to aid relief, recovery and rebuilding efforts in response to the recent tornadoes in Oklahoma and throughout the Southwest United States, and in expectation of continuing violent storms throughout the spring season.
As a part of this commitment, The Home Depot Foundation is donating $250,000 to the American Red Cross for immediate relief needs in response to recent tornadoes and storms that caused serious damage. The Home Depot Foundation has also committed $100,000 to Team Rubicon, whose primary mission is engaging veterans in disaster relief and recovery efforts, where their skills and experience greatly benefit communities. Additionally, The Foundation continues to support nonprofits and first responders to assist with emergency needs of local communities.
"The violent storms that have recently stricken Moore and other areas throughout the Southwest make it incumbent upon us to respond quickly to help our communities recover and rebuild, both now and during the many months to come," said Frank Blake, chairman and CEO of The Home Depot. "It is our sincere hope that the worst of this ferocious weather is behind us, but we stand ready to continue assisting through this funding, volunteerism and partnership with our communities."
In addition to funding, Team Depot, the Company's associate-led volunteer force, has been mobilizing locally to help with relief and recovery efforts.
The Home Depot is also a member of the American Red Cross Annual Disaster Giving Program (ADGP). The Company's annual $500,000 contribution to the ADGP enables the Red Cross to respond immediately to the needs of individuals and families affected by disaster anywhere in the United States.
Separately, The Homer Fund, a charity for The Home Depot associates in need of emergency financial assistance, has begun helping associates and their families affected by these storms.
The Home Depot Foundation is dedicated to improving the homes of U.S. military veterans through financial and volunteer resources to help nonprofit organizations. The Foundation has committed $80 million to these efforts over five years.
Since its formation in 2002, The Home Depot Foundation has granted more than $340 million to nonprofit organizations improving homes and lives in local communities. To learn more and see our associates in action, visit www.homedepotfoundation.org, follow us on Twitter @homedepotfdn, and like us on Facebook at www.facebook.com/homedepotfoundation.
The Home Depot is the world's largest home improvement specialty retailer, with 2,257 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2012, The Home Depot had sales of $74.8 billion and earnings of $4.5 billion. The Company employs more than 300,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
SOURCE The Home Depot Foundation