Leading corporate investment aims to inspire other partners; will help the Red Cross alleviate growing impacts of natural disasters on America’s most vulnerable communities
In March, the American Red Cross celebrates Truist Foundation for its generous donation of $5 million to support the urgent humanitarian needs posed by extreme weather events across the U.S. Truist Foundation, headquartered in Charlotte, North Carolina, is the first corporate partner to commit such a gift in addition to its annual $1 million commitment to Red Cross Disaster Relief.
Truist Foundation’s investment will help the Red Cross grow and adapt its capacity to respond to natural disasters and accelerate its ability to prevent and alleviate hardships brought on by these urgent and increasing challenges. These new Red Cross initiatives aim to reduce the number of families falling into poverty after disasters, including the expansion of financial assistance to help those most in need bridge significant roadblocks to recovery and find solutions for safe and stable living environments.
“Natural disasters pose a clear threat to the well-being and stability of our communities,” said Lynette Bell, president of Truist Foundation. “Truist Foundation works to ensure the most vulnerable communities receive the direct and immediate support they need to bolster their recovery in the aftermath of a disaster. My hope is that other corporate partners are inspired to follow in our footsteps and support the American Red Cross in this important work.”
As extreme weather-driven disasters such as hurricanes, floods and wildfires worsen, more displaced families and communities rely on the Red Cross for help. The organization is often one of the first on the ground during a crisis and serves millions of people in need each year, especially the most vulnerable who are often disproportionately affected by natural disasters. Furthermore, housing, health and hunger-related services in these communities need greater capacity and stronger support networks to respond.
Through its new Community Adaptation Program, the Red Cross is helping to build resiliency and empower families after disasters by enhancing support in several target areas, which are concurrently at high risk for extreme weather and struggling with socioeconomic challenges. Through the program, the Red Cross is partnering with local nonprofits to strengthen their ability to serve families hit hard by intense, recurring disasters. Inspired by this innovative partnership at the local level, Truist Foundation’s commitment will help the Red Cross meet its goal to lessen the impact of future disasters in these communities.
“Stronger and more frequent disasters are repeatedly striking communities across the country, creating unimaginable suffering for vulnerable families,” said Gail McGovern, president and CEO of the American Red Cross. “As we continue to see these devastating impacts each year, we’re so very grateful for Truist Foundation’s generosity and partnership as we work to expand our capacity and adapt our services to help people in times of great need.”
Truist Foundation has been a member of the Annual Disaster Giving Program — a group of generous corporate partners that donate to the Red Cross in advance of disasters — since its inception in 2020 and has also supported specific Red Cross disaster response efforts regionally and nationally.