Installed Building Products Gives $1.9 Million Through Foundation

Rhea-AI Summary

Installed Building Products, Inc. (NYSE: IBP) announced a significant donation of $1.9 million to nonprofits and individuals via the Installed Building Products Foundation. This includes $820,000 in major grants aimed at assisting home-building and renovation services across various states. The Foundation has notably contributed over $1.4 million to employee assistance programs since its launch in 2019. The Foundation, fueled by contributions from executives and employees, emphasizes community support during challenging times.

Positive

• Donation of $1.9 million to nonprofits and individuals enhances company image and community relations.
• Major grants totaling $820,000 support critical home-building services across multiple states.
• Foundation has committed over $1.4 million to employee assistance programs, aiding workforce morale and loyalty.

Negative

• None.

Today, Installed Building Products, Inc. (NYSE: IBP), an industry-leading installer of insulation and building products, announced that it donated $1.9 million in grants and assistance to nonprofits and individuals through the Installed Building Products Foundation.

The gift totals included $820,000 in major grants to nonprofit organizations that provide home-building or renovation services for those in need. The major grantee recipients included nonprofits in Columbus, Ohio where IBP is headquartered, as well as across the country: Oostburg, Wisc.; New Braunfels and Dallas, Texas; Rochester, N.Y.; Columbia, S.C.; Maumee and Perrysburg, Ohio; Pontiac, Mich.; St. Petersburg, Fla.; San Diego, Calif.; and Columbus, Ga.

Local grantees included Compassion Outreach Ministries of Ohio, Huckleberry House, Star House, Homeport, and Habitat for Humanity of Ohio.

In addition to the Major Grants program, there are several Foundation initiatives for IBP employees including an emergency financial assistance program, a fund to support matching gifts of time or money, and a scholarship program. So far, these programs have committed more than $1.4 million to the company’s employees and their family members since the Foundation’s inception in March of 2019.

“After launching the Foundation in 2019, we are thrilled to see the impact we’ve had on the lives of our employees and individuals across the country,” said IBP Foundation President Kelly Clifford Riehl. “Going into our second year of operation, we – like anybody else – never could have predicted the hardship that 2020 would bring. Our employees and the communities they live and work in are what make our company so great. We are so grateful to have already had the groundwork of the Foundation in place so that we could step up for our communities in a time of great need.”

IBP Foundation funds are made possible through executive and board member contributions, IBP contributions, and employee contributions and are available to employees across IBP’s locations nationwide. For more information, or to apply for community grants, visit installedbuildingproducts.com/community.

About the Installed Building Products Foundation

Installed Building Products, Inc. is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products. The Installed Building Products Foundation was started by and for IBP employees and their communities in 2019, and since its inception has donated more than $3.3 million through its scholarship program, emergency employee assistance, major grants program, and matching gift options. For more information, visit installedbuildingproducts.com/community.

About Installed Building Products

Installed Building Products, Inc. is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects from its national network of over 190 branch locations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210302005054/en/

FAQ

What was the total donation amount by Installed Building Products, Inc. in the recent PR?

Installed Building Products, Inc. announced a total donation of $1.9 million.

How much of the donation was allocated to major grants?

A total of $820,000 was allocated to major grants for nonprofits providing home-building services.

When was the Installed Building Products Foundation launched?

The Installed Building Products Foundation was launched in 2019.

What is the purpose of the Installed Building Products Foundation?

The Foundation aims to support nonprofits and provide assistance to employees and their families.

How much has the Installed Building Products Foundation donated since its inception?

Since its inception, the Foundation has donated more than $3.3 million.