NEW YORK - Verizon Foundation will provide at least $4 million to disaster relief efforts in response to last week's terrorist attacks, and that amount is expected to grow substantially in the next three weeks as the foundation's employee matching gift program continues.
The foundation is the philanthropic arm of Verizon Communications. Its employee matching gift program for the September 11th Fund in New York has generated at least $3.2 million in contributions in 8 days, including more than $800,000 donated by Verizon employees.
Last week, Verizon Foundation announced it would provide three dollars for every dollar given by an employee during the 30 days following Sept. 13. In addition, the foundation announced it is donating $1.125 million to three organizations in areas affected by the attacks.
"Verizon employees are giving their time, their expertise and from their pocketbooks, demonstrating a clear sense of purpose and urgency," said Ivan Seidenberg, Verizon president and co-CEO. "It's a tremendous response, but just what I'd expect knowing this superb Verizon team."
Verizon Foundation will match on a three-to-one basis every registered donation of up to $2,500 per employee made between Sept. 13 and Oct. 13 to the September 11th Fund. The matches will be made for donations made by employees of Verizon Communications, Verizon Wireless and U.S.-based employees of Vodafone. Vodafone is Verizon's partner in Verizon Wireless.
The fund was established Sept. 11 by the United Way of New York and the New York Community Trust and monies raised will be used for immediate support to established emergency assistance agencies, such as the American Red Cross. It also will bring together the resources of other nonprofit health and human service agencies.
The September 11th Fund is supported by the Washington-based Council on Foundations. A distribution committee formed by the New York United Way and the New York Community Trust will administer the fund. The committee will ensure that resources are deployed effectively in New York and other cities affected by the terrorist attacks.
Foundation Donates $1.125 Million
Verizon Foundation has donated $1 million to the New York Police and Fire Widows and Orphans Fund; $100,000 to the American Red Cross in Washington, D.C.; and $25,000 to the American Red Cross in Somerset, Pa.
Verizon employees also have donated food and clothing through the Salvation Army and given blood through their local Red Cross. Employees in the New York and Washington, D.C., areas have donated their time and expertise to help with the disaster recovery effort. In addition, more than 8,000 employees from Maine to Florida and California will staff phones for tonight's telethon, "America: A Tribute to Heroes," in support of the disaster relief effort.
Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with 125 million access line equivalents and approximately 28 million wireless customers. Verizon is also the largest directory publisher in the world. A Fortune 10 company with about 260,000 employees and more than $65 billion in annual revenues, Verizon's global presence extends to 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com.