STAG Industrial Establishes Charitable Action Fund
STAG Industrial announced the creation of the STAG Industrial Charitable Action Fund in collaboration with the Boston Foundation. This Fund aims to enhance the Company's community impact through social responsibility efforts targeting equality and youth empowerment. Ben Butcher, CEO, emphasized that it will serve as the primary avenue for monetary donations and support ongoing volunteerism. The Fund, overseen by the Company's executive team and a diverse Charitable Action Committee, responds to the challenges posed by COVID-19 and social injustices.
- Establishment of the STAG Industrial Charitable Action Fund, enhancing community support.
- Collaboration with the Boston Foundation to address social issues.
- None.
BOSTON, Nov. 10, 2020 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE: STAG) today announced the establishment of the STAG Industrial Charitable Action Fund (the "Fund") in cooperation with the Boston Foundation. The Fund will support the Company's social responsibility endeavors, including promoting equality and inspiring children and young adults, particularly those at risk, to realize their potential and benefit future generations.
"Consistent with our commitment to improve our community by supporting causes and organizations we believe in, we created the STAG Industrial Charitable Action Fund," said Ben Butcher, Chief Executive Officer of the Company. "The Fund will be the predominant channel for our monetary charitable giving and will augment our ongoing company-wide volunteerism."
The Fund is a donor advised fund sponsored by the Boston Foundation, which is a non-profit organization qualified under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. The Company's executive officers will oversee the Fund, in conjunction with the Company's Charitable Action Committee, which is composed of a variety of employees with differing seniorities and responsibilities.
"At a time when so many people around the region and world are facing difficult challenges from the twin pandemics of COVID and injustice, we are pleased to welcome STAG Industrial as a philanthropic partner," said Paul S. Grogan, President and CEO of the Boston Foundation. "I am heartened to work with STAG and other companies who are setting a leading example, providing critical resources and support to their local communities, and partnering in philanthropy to take on some of our biggest global challenges."
For inquiries about the Fund, please contact stagfund@stagindustrial.com.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. As of September 30, 2020, the Company's portfolio consists of 462 buildings in 38 states with approximately 92.3 million rentable square feet.
About the Boston Foundation
As Greater Boston's community foundation, the Boston Foundation devotes its resources to building and sustaining a vital, prosperous city and region, where justice and opportunity are extended to everyone. They fulfill this mission in three principal ways: making grants to nonprofit organizations and designing special funding initiatives to address the community's critical challenges; working in partnership with donors and other funders to achieve high-impact philanthropy; and serving as a civic hub and center of information, where ideas are shared, levers for change identified, and common agendas for the future are developed.
For additional information, please visit the Company's website at www.stagindustrial.com.
Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's annual report on Form 10-K for the year ended December 31, 2019 as updated by the Company's quarterly reports on Form 10-Q. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE STAG Industrial, Inc.
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