Caterpillar Raises Record $14.8 Million in United Way Campaign

Rhea-AI Summary

Caterpillar Inc. employees and retirees pledge $14.8 million to United Way chapters across the US, Mexico, Canada, and Panama.

Positive

• Record-breaking amount raised for United Way campaign, with a $1 million increase from last year.
• Over 5,000 volunteer hours recorded through the Caterpillar Foundation Volunteer Service Match Program.

Negative

• None.

Funds will help improve the lives of individuals in communities across the United States, Mexico, Canada and Panama

IRVING, Texas, Oct. 9, 2023 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) employees and retirees, together with the Caterpillar Foundation, the philanthropic organization of Caterpillar, have pledged more than $14.8 million to the United Way chapters across the United States, Mexico, Canada and Panama as part of its 2023-2024 campaign. The campaign achieved a record-breaking amount—and a $1 million increase—for the second year.

Employees generously donated to the United Way campaign and recorded over 5,000 volunteer hours through the Caterpillar Foundation Volunteer Service Match Program during August and September, which will generate additional matching funds for charities in Caterpillar communities.

"I want to express my sincere thanks to our employees and retirees whose incredible generosity is demonstrated by our campaign increase from $12.8 million in 2021 to $14.8 million this year, continuing to create a profound impact in our global communities," said Caterpillar Chairman and CEO Jim Umpleby.

The United Way has been Caterpillar's only annual solicitation for funds to its employees and retirees for over 70 years. The Caterpillar Foundation matches employee and retiree donations dollar for dollar. Over the past two decades, more than $210 million has been raised during the annual campaign.

United Way assesses local community needs, finds efficient programs that deliver measurable outcomes and works to eliminate those needs in the future by identifying the causes and creating long-term solutions. "Caterpillar continuously demonstrates the ability to make a positive difference in so many lives. United Way Worldwide is grateful for the continued and tremendous support, and these donations will enable local United Ways to carry out essential initiatives and reach more individuals in need," said United Way Worldwide President and CEO Angela Williams.

Caterpillar is part of the United Way's Global Corporate Leadership Program, which includes 86 corporate partners that raise more than $800 million annually. There are more than 1,100 United Way chapters globally, and Caterpillar's annual campaign supports 542 of these chapters where the company's employees live and work.

About Caterpillar
With 2022 sales and revenues of $59.4 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we've been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/social-media.html.

About the Caterpillar Foundation
Founded in 1952, Caterpillar's philanthropic organization, the Caterpillar Foundation, has contributed nearly $900 million to help make sustainable progress possible around the world by building resilient communities that thrive in a rapidly changing world. To learn more about the global impact of the Caterpillar Foundation, visit caterpillar.com/foundation. To connect with us on social media, visit caterpillar.com/social-media.

 

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SOURCE Caterpillar Inc.

FAQ

What is the total amount pledged by Caterpillar Inc. employees and retirees?

$14.8 million.

How much did the campaign raise compared to last year?

It achieved a $1 million increase.

How many volunteer hours were recorded through the Caterpillar Foundation Volunteer Service Match Program?

Over 5,000 volunteer hours were recorded.

How much has been raised during the annual campaign over the past two decades?

Over $210 million.

How many United Way chapters does Caterpillar's annual campaign support?

It supports 542 United Way chapters.