StockNews.AI
VZ
StockNews.AI
197 days

Verizon Foundation provides $500,000 to support wildfire recovery efforts in Southern California

1. Verizon Foundation donates an additional $500k for Southern California recovery efforts. 2. Total support now reaches $1.5 million including prior contributions. 3. Funds to help community partners like YMCA and Habitat for Humanity recover post-disasters. 4. Verizon emphasizes its commitment to long-term community recovery and support.

4m saved
Insight
Article

FAQ

Why Neutral?

Philanthropic efforts may enhance Verizon's public relations but lack direct financial impact.

How important is it?

Although significant, charity contributions don't directly influence stock prices but can improve corporate reputation.

Why No Impact?

Community donations typically affect brand image rather than immediate stock performance.

Related Companies

VZ
These additional funds are provided on top of the $1 Million announced earlier this month — $500k to the American Red Cross and $500k to the Los Angeles Fire Department Foundation February 03, 2025 16:14 ET  | Source: Verizon Communications, Inc. NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- The Verizon Foundation is providing an additional $500,000 to support the work of four community partners delivering on-the-ground resources to those directly affected by the Southern California fires and windstorms. These funds add to $1 million already provided to the American Red Cross and the Los Angeles Fire Department Foundation (LAFD). The additional contributions aim to provide support for recovery efforts in the region. The donations will be split among the following organizations: Habitat for Humanity Greater LA - ReBUILD LA: $150KCA Fire Foundation: $150KAltaMed Foundation: $100KYMCA of Metropolitan Los Angeles: $100K "As the situation continues to unfold in the Los Angeles area, we recognize the importance of continuing to support recovery efforts. We want to ensure that those working on the ground have additional resources to help the community recover from this unimaginable tragedy," said Donna Epps, Verizon’s Chief Responsible Business Officer. "We want communities to know we are here to help them rebuild their lives.” The organizations receiving the funds promptly thanked the support provided by Verizon Foundation. Below are some of their statements: “Habitat for Humanity is ready to help families with long-term recovery after these devastating wildfires,” said Erin Rank, Habitat for Humanity of Greater Los Angeles President & CEO. “We greatly appreciate the Verizon Foundation stepping up to support our communities not only with immediate needs but also to repair and rebuild homes. Their generosity will provide critical resources to families affected by the recent wildfires. Together, we are building strength, resilience, and hope for families in need.” “We are so grateful for the support of Verizon Foundation toward the efforts of The YMCA of Metropolitan Los Angeles Wildfire Relief and their investment in rebuilding our communities. The funding helps us to continue to offer free childcare, free access for impacted families, and respond to the changing needs of the communities deeply changed. With the support of significant donors like Verizon Foundation, together, we can be here through the long-term recovery and rebuilding for the individuals and families navigating this life-changing event."- Victor Dominguez, President & CEO YMCA of Metropolitan Los Angeles. Media contactsHope Armanushope.arcuri.armanus@verizon.com Alexis Madrigal alexis.madrigal@verizon.com

Related News