American Red Cross Recognizes State Street Foundation for Contributions to the Disaster Relief Fund

In response to the California wildfires, the State Street Foundation, Inc., the grantmaking arm of Boston-based financial services firm State Street Corporation, donated $500,000 to the American Red Cross Disaster Relief Fund. The State Street Foundation will also match up to $100,000 for donations made through its employee donation program to help provide essential services to those affected by disasters.

“The State Street Foundation is a valued partner of the American Red Cross. We are extremely grateful for this generous donation that will enable the Red Cross to provide life-saving support to the victims of thousands of disasters,” said Kathleen Loehr, interim senior vice president for development at the American Red Cross.

State Street Foundation’s generous gift will go toward helping the Red Cross respond to the nearly 75,000 disasters that occur each year, disasters like the California wildfires. It will provide essential items such as food, shelter, mental health counseling and other assistance to disaster victims. The State Street Foundation is also a member of the Red Cross Annual Disaster Giving Program and has already committed $1.5 million to the Red Cross over the next three years. The recent gift extends beyond its annual contribution.

“The State Street Foundation is committed to improving the communities in which State Street has a business presence,” said George Bowman, vice president of State Street’s community affairs department. “When major disasters occur, we are able to respond quickly through the Foundation’s Disaster Relief Emergency Assistance Fund. Our matching gift program also empowers our employees to give to causes that are important to them.”

When the California wildfires struck, the Red Cross opened 26 shelters in Southern California, providing a safe place to stay for approximately 6,000 evacuees at the peak of the fires. Some 5,000 Red Cross disaster relief workers from all 50 states rushed to ensure that survivors had shelter, food, and comfort. The Red Cross continues to work with community partners to identify resources that can aid in the long-term recovery of survivors.

Note: On Monday, October 29, 2007 The American Red Cross announced that it has met the expected costs of the California wildfires but still needs donations to its Disaster Relief Fund to ensure it can respond to the next disaster just as swiftly and effectively as it did in Southern California. Visit redcross.org for additional details.

The American Red Cross helps people prevent, prepare for and respond to emergencies. Last year, almost a million volunteers and 35,000 employees helped victims of almost 75,000 disasters; taught lifesaving skills to millions; and helped U.S. service members separated from their families stay connected. Almost 4 million people gave blood through the Red Cross, the largest supplier of blood and blood products in the United States. The American Red Cross is part of the International Red Cross and Red Crescent Movement. An average of 91 cents of every dollar the Red Cross spends is invested in humanitarian services and programs. The Red Cross is not a government agency; it relies on donations of time, money, and blood to do its work.