Truist Foundation supports Southeastern communities impacted by Tropical Storm Debby with $100,000 grant
Rhea-AI Summary
Truist Foundation has announced a $100,000 donation to support relief and recovery efforts in Southeastern communities impacted by Tropical Storm Debby. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund, the American Red Cross, and United Way Worldwide. These organizations will use the grant to address critical immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts.
Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by events like Tropical Storm Debby. Truist Foundation, established in 2020, focuses on building career pathways to economic mobility and strengthening small businesses to promote equal opportunities for all communities.
Positive
- Proactive $100,000 donation for disaster relief before storm impact
- Previous $1 million donation to American Red Cross Annual Disaster Giving Program
- Strategic partnerships with established disaster relief organizations
Negative
- None.
News Market Reaction
On the day this news was published, TFC declined 2.23%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Funds will help provide immediate relief, support long-term recovery efforts
CHARLOTTE, N.C., Aug. 4, 2024 /PRNewswire/ -- As Tropical Storm Debby approaches the
"Truist Foundation stands ready to support local communities impacted by devastating natural disasters, such as Tropical Storm Debby," said Lynette Bell, president of Truist Foundation. "This storm is expected to strengthen over the coming days, but we recognize it's critical for disaster relief organizations to have funding before, during and after storms hit. By providing this grant today, we are living out Truist's purpose—inspiring others to join us, take action and provide aid."
The selected organizations will use their grant funds to identify and deliver the most critical immediate community needs such as access to food, shelter and medical services. A portion of the donation will be focused on medium- and long-term recovery informed by disaster experts in partnership with those in the affected communities. Restoration efforts may address needs such as rebuilding homes, providing mental health, legal and disaster case management services, and other urgent challenges identified as recovery efforts progress.
Additionally, earlier this year, Truist Foundation donated
About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. The foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an equal opportunity to thrive. Embodying these focus areas are the foundation's leading initiatives — the Inspire Awards and Where It Starts. Learn more at Truist.com/Foundation.
View original content:https://www.prnewswire.com/news-releases/truist-foundation-supports-southeastern-communities-impacted-by-tropical-storm-debby-with-100-000-grant-302213988.html
SOURCE Truist Foundation
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