Boeing Donates $2 Million to Support Hurricane Ian Recovery and Relief Efforts

Boeing (NYSE: BA) has pledged $2 million for disaster recovery efforts following Hurricane Ian, including a $750,000 donation to the Volunteer Florida Foundation.

Rhea-AI Summary

Boeing (NYSE: BA) has pledged $2 million for disaster recovery efforts following Hurricane Ian, including a $750,000 donation to the Volunteer Florida Foundation. An additional $200,000 is allocated to the American Red Cross for evacuation centers. Boeing's contributions aim to support ongoing recovery initiatives in affected areas of Florida.

Positive

• Boeing's $2 million donation supports Hurricane Ian recovery efforts, enhancing corporate reputation.
• The donation includes $750,000 to Volunteer Florida Foundation, indicating strong community engagement.
• Boeing has a history of charitable contributions, totaling $35 million over the last five years, reinforcing their commitment to social responsibility.

Negative

• None.

Argus Session date unavailable

+4.10% session move Open Argus

Details

News Market Reaction – BA

The recorded move for BA in the trading session of this news was +4.10%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

ARLINGTON, Va., Oct. 3, 2022 /PRNewswire/ -- Boeing (NYSE: BA) is committing $2 million to assist with on the ground disaster recovery and relief efforts in the aftermath of Hurricane Ian, the company announced. This includes a $750,000 donation to the Volunteer Florida Foundation, the state's lead agency for volunteer and national service that directly manages the Florida Disaster Relief fund.

"The destruction left behind in the wake of Hurricane Ian is devastating and heartbreaking. Our thoughts go out to our colleagues and all those impacted by the storms," said David Calhoun, Boeing president and CEO. "Boeing and our teammates stand ready to support the people of Florida, and we are hopeful that this assistance will help with ongoing search and rescue missions as well as bring some relief to those who are suffering."

"On behalf of Volunteer Florida, we would like to thank Boeing for their significant financial contribution to the Florida Disaster Fund in response to the state-wide recovery efforts from Hurricane Ian, said CEO of Volunteer Florida Josie Tamayo. "Their contribution to the Florida Disaster Fund will help provide essential services in rebuilding our affected communities."

Included in the $2 million commitment from Boeing and the Boeing Charitable Trust is a grant of $200,000 to the American Red Cross for evacuation centers across the state. The more than $1 million remaining will fund additional organizations to help impacted Florida communities with short and long-term needs such as clean up, repairs and rebuilding.

"Thanks to Boeing's generous donation, the Red Cross and our partners are on the ground supporting those in need after Hurricane Ian came ashore as a powerful Category 4 storm," said Anne McKeough, chief development officer at the American Red Cross. "We are grateful for partners like Boeing as we work together to provide help and hope for communities in the wake of this destructive hurricane."

In addition to corporate charitable investments, Boeing employees give to their local communities by participating in volunteer programs, gift matching programs and the Employee Disaster Relief Fund – an employee-managed fund that provides individual disaster aid for employees affected by hurricanes and other natural disasters. Consistent with Boeing employee gift match programs, the company will match qualifying employee contributions made in support of Hurricane Ian relief.

Disaster recovery and relief efforts in Florida align with Boeing's ongoing commitment to the communities where the company has a presence. Boeing employs more than 2,730 people in Florida, who support both defense and commercial customers in the areas of space, aircraft modifications and sustainment, and commercial aviation services with the largest concentrations in Kennedy Space Center, Fort Walton Beach, Jacksonville and Miami.

Boeing is active and engaged in Florida, providing a combined $35 million in charitable contributions over the last five years.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers.

Contact 
Boeing Communications
media@Boeing.com

View original content:https://www.prnewswire.com/news-releases/boeing-donates-2-million-to-support-hurricane-ian-recovery-and-relief-efforts-301638596.html

SOURCE Boeing

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Boeing's donation amount for Hurricane Ian relief efforts?

Boeing has committed $2 million for Hurricane Ian disaster recovery.

When did Boeing announce its support for Hurricane Ian recovery?

Boeing announced its support on October 3, 2022.

Which organizations is Boeing donating to for Hurricane Ian relief?

Boeing is donating to Volunteer Florida Foundation and the American Red Cross.

How much is Boeing donating to the Volunteer Florida Foundation?

Boeing is donating $750,000 to the Volunteer Florida Foundation.

What other contributions has Boeing made related to Hurricane Ian?

Boeing's $2 million commitment also allocates $200,000 to the American Red Cross for evacuation centers.