GE donates $2.4 million to 180 local nonprofits through its matching gifts program
Nonprofits gather at June 21 luncheon to celebrate
Louisville, Ky., June 20, 2007—How often do you see a larger than life–size check worth more than $2 million? On Thursday, June 21, leaders from 28 local nonprofit organizations will be present for the unveiling of the biggest check they have seen in a long time.
This Thursday from noon to 1 p.m., 53 nonprofit leaders will gather for lunch at GE's Monogram Hall at Appliance Park with Lynn Pendergrass, President and CEO of Consumer & Industrial—Americas, to celebrate this huge windfall in funding for the Louisville community, thanks to the GE Foundation. These leaders represent the nonprofit organizations who received the most funding through the matching gifts program this year.
In 2006, donations topped the $1 million mark; but in 2007, donations skyrocketed and reached $2.4 million, making 2007 a record year for the GE Foundation's matching gifts program in the Louisville area. Generous GE Consumer & Industrial employees and retirees donated $1.2 million to their favorite nonprofit organizations and then requested to have those funds matched by the GE Foundation, dollar for dollar.
More nonprofit organizations than ever benefited under a vastly expanded matching gifts program announced in 2005. Employees can donate to the organization of their choice, as long as the organization is registered as a 501 (c) (3) nonprofit. This change opened up opportunities for employees to donate to organizations such as churches, public and private schools, colleges, community foundations, homeless shelters and many others.
Organizations benefiting from the GE Foundation's matching gifts program this year include:
- University of Louisville
- Little Sisters of the Poor
- Saint Catharine College
- Catholic Charities of Louisville
- Home of the Innocents
In response to feedback collected at last year's luncheon, GE also planned two morning workshops for nonprofit leaders and their staff to attend. The first seminar,
Change Acceleration Process for Nonprofits, will focus on CAP, GE's proprietary change management process, which has been proven to ensure the effective implementation of change projects. CAP focuses on building active support for change through seven key processes. The second seminar,
Working with GE Consumer & Industrial and the GE Foundation, will help local nonprofit organizations develop stronger relationships with GE. These sessions demonstrate GE's commitment to making a difference in the Louisville community in multiple ways.
"GE, its employees and retirees are well–known for giving back to their communities," Pendergrass said. "We ask a lot of our employees throughout the year when it comes to donating their time and money to a variety of activities. And I am always impressed to see the generosity of GE employees and retirees continuing to increase every year."
The GE Foundation created the concept of a corporate matching gifts program in 1954 to encourage and match gifts made by employees to educational institutions and community–based nonprofit organizations. Since then, over 7,500 companies worldwide have adopted similar programs, contributing well over $1 billion every year. Each year, the GE Foundation as a whole matches well over $18 million in employee and retiree gifts, providing important support for many higher education institutions and local organizations.
GE Consumer & Industrial spans the globe as an industry leader in major appliance, lighting and integrated industrial equipment, systems and services. Providing solutions for commercial, industrial and residential use in more than 100 countries, GE Consumer & Industrial uses innovative technologies and "ecomagination," a GE initiative to aggressively bring to market new technologies that help customers and consumers meet pressing environmental challenges, to deliver comfort, convenience and electrical protection and control. General Electric (NYSE: GE) brings imagination to work, selling products under the Monogram®, Profile™ GE®, Hotpoint®, SmartWater™ Reveal®, Edison™ and Energy Smart™ consumer brands, and Entellisys™ industrial brand. For more information, consumers may visit www.ge.com.
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