Verizon Donations for Tsunami Relief Efforts Top $3 Million With Company's $100,000 Contribution on Behalf of Retirees
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NEW YORK - Verizon today contributed a total of $100,000 to Save the Children and Mercy Corps on behalf of the company's retirees who have responded generously to relief efforts to aid the victims of the deadly tsunami. Company donations, which include the Verizon Foundation's 2-to-1 match of contributions from active employees, now total more than $3 million.
Since the company launched its special disaster relief program two weeks ago, many of the more than 200,000 retirees of Verizon and its predecessor companies have contributed to relief agencies.
"Verizon retirees have responded on their own to the disaster with a keen sense of urgency," said Patrick R. Gaston, president of the Verizon Foundation. "We're making this donation not only to acknowledge their past service with the company, but also to laud and encourage their efforts to aid victims in South Asia and East Africa."
The Verizon Foundation donated $50,000 each to Save the Children and Mercy Corps on behalf of the retirees. Save the Children is working to meet the immediate health and nutrition needs of children, and to identify and protect children who have suddenly found themselves alone. Mercy Corps' efforts include recovery and community reconstruction programs.
The Verizon Foundation, the philanthropic arm of Verizon Communications, is matching employee contributions to the American Red Cross and UNICEF on a 2-to-1 basis through Jan. 31.
As of Jan.13, employee gifts totaling $958,100 have been made to the American Red Cross and UNICEF, with a Verizon Foundation match of $1,904,600, for a total of $2,862,700. Additionally, the foundation has contributed $50,000 to each of the two organizations. The contributions to Save the Children and Mercy Corps bring the company's combined total to $3,062,700.
Under the Verizon Foundation's Disaster Relief Incentive Program, the company provides matching funds for each employee's contribution of up to $2,500 a year. In addition to the 2-to-1 match for employee contributions to the American Red Cross and UNICEF, the foundation is providing a 1-to-1 match for contributions to other nonprofit organizations assisting with disaster relief efforts. Employees have made donations ranging from $50 to $2,500 since the disaster relief program was announced on Dec. 30.
The Verizon Foundation uses its resources in the United States and abroad to develop partnerships in technology and connect them with organizations serving the needs of diverse communities, people with disabilities, victims of domestic violence, and the economically and socially disadvantaged.
For more information on the foundation, visit www.verizon.com/foundation.
Verizon Communications Inc.
Verizon Communications Inc. (NYSE:VZ) is one of the world's leading providers of communications services. With a diverse work force of approximately 208,000, Verizon has four business units: Domestic Telecom serves customers based in 29 states with wireline telecommunications services, including broadband, nationwide long-distance and other services. Verizon Wireless owns and operates the nation's most reliable wireless network, serving 42.1 million voice and data customers across the United States. Information Services operates directory publishing businesses and provides electronic commerce services. International includes wireline and wireless operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.