ATLANTA, Sept. 15 /CNW/ -- The Home Depot(R) Foundation, the
philanthropic arm of The Home Depot, today announced the donation of $1
million to the recovery and rebuilding efforts in response to Hurricane Ike.
The funding will be used for three programs:
-- $200,000 to the American Red Cross for immediate recovery aid for
Houston and the communities along the Gulf coast of Texas.
-- $100,000 in clean-up materials for locally organized, community
volunteer efforts, including the activation of Team Depot, the Company's
associate volunteer program.
-- $700,000 to the Local Initiatives Support Corporation (LISC) for
rebuilding efforts in communities affected by Hurricane Ike.
Separately, The Homer Fund, a charity for The Home Depot associates in
need of emergency financial assistance, has begun helping associates and their
families affected by Hurricane Ike. Volunteers from the Company activated The
Homer Fund call center more than two weeks ago to assist associates with their
urgent needs of safe housing and other daily essentials during this hurricane
season. To date, The Homer Fund has granted approximately $1.1 million to
more than 1,350 associates affected by Hurricanes Gustav and Ike.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030502/HOMEDEPOTLOGO )
"The devastation from Hurricane Ike is widespread and we are moving
quickly to help the residents affected by the storm," said Kelly Caffarelli,
president of The Home Depot Foundation. "In addition to meeting the immediate
needs of our associates and communities, we are also supporting the
longer-term efforts by investing in organizations that will rebuild these
communities in a healthy, sustainable way."
The Home Depot closed 53 stores in the Houston, Galveston and Beaumont
area prior to Hurricane Ike making landfall. As of this morning, only 6
remain closed. In an effort to give affected associates the time they need to
attend to personal matters following this storm, associates from other parts
of the country are coming in to help staff the stores in the affected areas.
Thus far, the Company has coordinated the transport and lodging for
approximately 450 relief associates.
About The Home Depot
The Home Depot(R) is the world's largest home improvement specialty
retailer, with 2,262 retail stores in all 50 states, the District of Columbia,
Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and
China. In fiscal 2007, The Home Depot had sales of $77.3 billion and earnings
from continuing operations of $4.2 billion. The Company employs more than
300,000 associates. The Home Depot's stock is traded on the New York Stock
Exchange (NYSE: HD) and is included in the Dow Jones industrial average and
Standard & Poor's 500 index. HDG
About The Home Depot Foundation
The Home Depot Foundation was created in 2002 to further the community
building goals of The Home Depot. The Home Depot Foundation is dedicated to
building affordable homes for working families that are healthy to live in and
affordable to own. To make homes healthy and affordable, the Foundation
encourages developers to incorporate responsible design and use durable and
quality materials to ensure that homes are more energy and water efficient,
have good indoor air quality, and provide a safe and healthy space to live.
Since its formation, The Home Depot Foundation has granted $70 million to
nonprofit organizations and supported the development of more than 50,000
affordable, healthy homes. For more information, visit
For further information:
For further information: Financial Community, Diane Dayhoff, Sr. Vice
President of Investor Relations, +1-770-384-2666, email@example.com,
News Media, Sarah Molinari, Manager of Corporate Communications,
+1-770-384-5504, firstname.lastname@example.org, both of The Home Depot Web