Approximately 3,200 employees across the U.S. team up on projects to benefit local charities
Public Company Information:
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation’s annual Schwab Volunteer Week begins today in 82 cities across the U.S. This year’s event commemorates the tenth consecutive year that Schwab has mobilized its workforce to volunteer during a period of company-sponsored time off. This year will mark the greatest level of employee participation yet in the history of the annual event, with nearly 3,200 employees and executives spending more than 12,000 hours on more than 220 different service projects benefiting 157 charities. In addition to the sweat equity donated by Schwab employees, Charles Schwab Foundation will be providing a special, increased two-for-one match of employees’ charitable contributions (up to $200,000) during May 20-31. Charles Schwab Foundation will also make an average $500 grant to each organization where Schwab Volunteer Week projects are being held. In total, approximately $90,000 in grants will be distributed during the week.
This year Schwab’s social media fans and followers will also have the opportunity to participate in Schwab Volunteer Week. On May 20, Schwab will launch a contest on the Charles Schwab Facebook page to give its fans the ability to choose one of four non-profit organizations to receive a $10,000 grant from The Charles Schwab Corporation to help support their ongoing work in communities throughout the U.S. The charities are: The Salvation Army, Goodwill Industries International, Boys & Girls Club of America and Teach for America. Each organization will post a video on the Schwab Community Services Contest tab on the Charles Schwab Facebook page, describing the mission of the organization and the people they serve. Fans are encouraged to vote for the organization of their choice, and the one with the most votes at midnight on Sunday, May 26, will receive the $10,000 grant, with the runners-up receiving smaller grants for their participation ($5,000 for second place, $2,000 for third place and $1,000 for fourth place).
“Schwab Volunteer Week is truly a celebration of the esprit de corps and culture of service throughout our company,” said Carrie Schwab-Pomerantz, president of Charles Schwab Foundation and senior vice president, Charles Schwab & Co., Inc. “It’s not only about the service we provide on behalf of our clients day in and day out, but what we can do for our communities as a whole that energizes us and gives meaning to our work.”
During Schwab Volunteer Week, Schwab employees have the opportunity to sign up for projects ranging from leading financial education workshops to physical activities that include light construction, remodeling, painting, serving food and working on landscape and garden improvements. Many of the participating nonprofits aim to help alleviate poverty and provide the foundation for financial well-being. As in years past, benefiting organizations include:
- Elementary schools, middle schools and high schools
- A variety of local organizations dedicated to providing health, social and human services to seniors, children, women and families, veterans and the disabled
- Workforce development and career-building organizations
- Homeless shelters and transitional-support programs
- Youth organizations such as Boys & Girls Clubs of America, Homeward Bound and Junior Achievement
- Habitat for Humanity
- The Salvation Army
- Goodwill Industries
- Project Night Night
- Easter Seals
- Dress for Success
Also as in previous years, many of Schwab’s locations will be offering projects on-site to accommodate employees who may not be able to leave the office. On-site projects will include assembling tote-bags with comfort items for homeless children and with essentials for seniors in need; putting together food boxes and making sandwiches; creating fun and interactive learning kits for primary school children; and decorating toddler “one-sies” for homeless mothers.
Photos of Schwab Volunteer Week projects and activities will be posted throughout the week and can be viewed and downloaded at photos.aboutschwab.com.
Employee volunteer stories will be posted on Schwab’s blog, SchwabTalk, at www.aboutschwab.com/press/blog.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300 offices and 8.9 million active brokerage accounts, 1.6 million corporate retirement plan participants, 895,000 banking accounts, and $2.11 trillion in client assets as of April 30, 2013. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.
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About Charles Schwab Foundation
The Charles Schwab Foundation is a nonprofit public benefit corporation, classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate on behalf of those in need so that everyone has the opportunity to achieve financial well-being. More information is available at www.aboutschwab.com/community_services.
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