Russell Investments Extends Major Grant to United Way of Pierce County

Investment Firm Initiates $500,000 Charitable Giving Challenge

TACOMA, Wash.— United Way of Pierce County announced a major grant from Russell Investments aimed at raising up to $1 million for the Pierce County community.  The $500,000 challenge grant will be used to match every new dollar donated to the Community Campaign administered by United Way of Pierce County.  The money from the campaign is used to fund local programs and systemic changes in the areas of Education, Income, Health and Emergency Services.  The challenge grant is in addition to support the United Way already receives from many Russell associates and related corporate matching gifts from Russell.

Given the economic downturn, the number of individuals in Pierce County seeking assistance has risen dramatically while nonprofits have been faced with decreasing donations and severely reduced budgets.  Russell and United Way have been working collaboratively for several months on strategies aimed at alleviating the burdens currently facing the Pierce County community and are hopeful that the $500,000 challenge grant will have an impact in broadening the base of support for United Way of Pierce County.

“We can use this match as a powerful fundraising tool,” said Tacoma Public Utilities Director Bill Gaines, who is serving as this year’s United Way of Pierce County campaign chair. “We need to support our community now, as much as ever, and this generous grant will go a long way toward accomplishing that.”

The challenge grant match will be applied to new donations to United Way of Pierce County’s Community Solutions Fund. This will include new dollars as part of an increase to an existing gift. Community volunteers will decide how the matching funds and increased gifts will be invested to improve lives in Pierce County.   

“We hope to make the match in this year,” said Jay Thomas, United Way of Pierce County Vice President for Community Education and Resource Development.  “Our desire is that this will entice some companies that aren’t currently participating in the campaign to join the community effort. The opportunity to double your gift to charity doesn’t come along all that often.” 

During its 74-year history, Russell has been one of the most generous corporations in Pierce County, supporting numerous nonprofits in the community. The company, which is relocating its headquarters to Seattle in October, has made it clear they intend to continue supporting the communities throughout the Puget Sound region where their employees live and work.

“We want the challenge grant to be a catalyst for additional support from other organizations and individuals committed to Pierce County,” said Ken Willman, Russell’s Chief Legal Officer, whose responsibilities include oversight of Russell’s Government & Community Relations Department.  “United Way of Pierce County has been a long-time community partner of ours, and we applaud the exceptional work they do.”

“As a Russell associate and member of United Way of Pierce County’s Board, I am very pleased by Russell’s ongoing commitment to United Way and the commitment to our communities in general,” said Jeff Vernor, the head of the Operational Risk Group at Russell. 

Rick Allen, President of United Way of Pierce County, noted that Russell Investments had grown to be Pierce County’s largest in-county campaign.

“Russell has donated hundreds of thousands of dollars and innumerable volunteer hours to community efforts every year.”  Allen went on to say that many of Russell Investment’s employees are Pierce County residents, and that “this is a clear signal from Russell Investments that they are committed to the communities in which their employees live.”

To learn more about how Pierce County is faring in this economic climate, visit United Way of Pierce County’s Community Indicators site at www.indicators.uwpc.org or call (253) 272-4263.

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