Stephenson Family Commits $5 Million to U.S. Virgin Islands' Hurricane Relief

CHARLOTTE AMALIE, U.S. Virgin Islands, Oct. 10, 2017 /PRNewswire/ -- Recognizing the massive humanitarian challenge facing the U.S. Virgin Islands (USVI) as it recovers from the devastating impact of hurricanes Irma and Maria, the Barrington, Illinois-based Stephenson Family Foundation, under the leadership of Richard J Stephenson, today announced a pledge of $5 million in relief funds to assist with the islands' recovery. Two million dollars is being funded immediately, with the additional $3 million pledged as a matching fund to encourage other donations to the Community Foundation of the Virgin Islands (CFVI) for hurricane recovery.

Stephenson, founder and chairman of International Capital & Management Company (ICMC), International Private Bank (IPB) and Cancer Treatment Centers of America^® (CTCA), is partnering with CFVI in launching HelpUSVINow! to aid in the recovery of the USVI from the unprecedented ravages of the two storms. Tax-deductible donations can be made at www.EDCReliefandRecovery.org. 

"I was both shocked and dismayed by the immense suffering and damage that has occurred," said Mr. Stephenson, a longtime resident of the USVI. "I immediately sought out the people and organizations with the potential to make the most direct impact on the ground without delay and am eager to contribute my family's resources to the Community Foundation of the Virgin Islands to support this effort."

CFVI is a long-standing USVI nonprofit organization working around the clock to provide financial and other support for hurricane relief efforts throughout St. Thomas, St. John and St. Croix, supporting health care and educational infrastructure, the general welfare of families and children, and other imminently needed basic necessities. Additional local relief and recovery support will be driven by the collaborative efforts of other organizations operating in the USVI, including businesses that participate in the programs administered by the Economic Development Commission (EDC), businesses that participate in the economic development program administered by the University of the Virgin Islands' Research and Technology Park, nonprofit and charitable organizations committed to USVI community development, and educational and business development organizations providing assistance and services throughout the USVI.

During this morning's Governor's press conference on St. Thomas, in which the CFVI Fund launch was announced, USVI Governor Kenneth E. Mapp said, "It is the resilience of Virgin Islanders that will lead the way to our recovery. But the road ahead has many challenges, and we could not be successful in this effort without the generous support of the Stephenson family and many other USVI businesses. For this, we are grateful."

In addition to the $5 million commitment to the HelpUSVINow! Fund, the largest private contribution to the USVI to date in the aftermath of hurricanes Irma and Maria, the Stephenson family has coordinated numerous hurricane relief efforts, including the charter of a Boeing 737 out of Chicago to deliver critical supplies, medical equipment, food and dozens of generators to St. Thomas and the surrounding islands in the wake of the storms. The family also assisted in helping many USVI residents, especially those with children or special circumstances, fly to the U.S. mainland to get out of harm's way.  

The Stephenson family's relationship with the U.S. Virgin Islands dates to 2003 when they launched International Capital & Management Company, an EDC company that today employs over 130 people. Since then, they have been champions and financial backers of community events such as "Jazz in the Park" and to scores of local charities such as CFVI and the VI Cancer Support Fund.  The family has recently launched a new private investment entity on St. Croix, called International Private Bank, which is in the process of becoming fully operational in the next few months.

"We know many communities are facing incredible challenges from these storms, and we're so thankful for the considerable humanitarian efforts of the Stephenson family including this financial initiative that is keeping U.S. Virgin Islanders front of mind as we come together to rebuild," said Congresswoman Stacey Plaskett (D-VI), who represents the territory. "I applaud the Community Foundation of the Virgin Islands and its HelpUSVINow! campaign, and the collaborative and tireless efforts of our EDCs and other businesses working in the USVI community, for the life-saving work that is supporting our recovery. As we begin our rebuilding to make the Virgin Islands the leader of the Eastern Caribbean, this action by the Stephenson family serves as an example of private and non-governmental organization partnerships which will bolster the public sector as we become a more resilient community."

"CFVI has taken a leadership role in the renewal and recovery efforts of our islands," said Dee Baecher-Brown, president of CFVI, "and we are so very grateful for the Stephensons' generous support as well as the numerous USVI businesses committing resources to aid our recovery."

At the writing of this press release, the following companies have pledged their support to the USVI recovery effort:

• Alpine Securities USVI
• 183 Media, LLC
• Discover Fund Management, LLLP
• White Bay USVI
• BP Consulting VI
• United Electronic Industries, LLC
• Standard Aviation, LLC
• Brad's Deals, LLC
• Ferrer, LLC

For more information and to donate:

• Visit www.EDCReliefandRecovery.org or call Katrin Bradell, CSVI Development Director at 340-201-0299.
• Checks can be mailed to the CFVI office: PO Box 11790 / St. Thomas, VI 00801 with the memo: HelpUSVINow!

For more than 25 years the Community Foundation of the Virgin Islands has been catalyzing positive changes in the Territory through initiatives committed to youth, learning, family support and the environment.  With a professional staff and a volunteer Board of Directors composed of community leaders, CFVI is a trusted advocate and supporter of programs that ensure opportunity and sustainability for current and future generations. To enhance its work, CFVI actively collaborates with trusted non-profit partners and other entities throughout the Territory. CFVI operates or funds close to 50 community initiatives and programs including college scholarships, teacher grants, the TFC Kindercamp for school readiness, the Junior Angels volunteerism/philanthropy program, the Next Generation Scholars college access program, and emergency grants to families and elderly residents of the USVI. CFVI is a registered non-profit organization entirely supported by individual donors, grants, trusts, corporate donations and estate planning.

Contact: Dee Baecher-Brown
President, CFVI
340-513-3122
[email protected]

Michael Myers
561-923-3179
[email protected]  

SOURCE Community Foundation of the Virgin Islands

Related Links

http://www.EDCReliefandRecovery.org