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The VF Foundation Issues Its Second Impact Report Detailing Funding Across 73 Countries During Global Pandemic
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
VF Corporation's philanthropic arm, The VF Foundation, announced over $8 million in grants and more than $24 million in total donations, impacting 3 million people across 73 countries from March 29, 2020 to April 3, 2021. The report emphasizes four priorities: equitable outdoor access, inclusive leadership in apparel, self-expression, and disaster relief. Notable partnerships include The Trust for Public Land and the United Nations Foundation. Since 2002, the Foundation has granted nearly $60 million globally.
Positive
The VF Foundation granted over $8 million to 91 community partners during the reported period.
A total donation of more than $24 million reflects VF Corporation's commitment to social responsibility.
The Foundation positively impacted over 3 million individuals across 73 countries, enhancing its global presence.
Key projects focused on outdoor access, women's empowerment, and disaster relief demonstrate diverse community support.
Negative
None.
More than $8 million granted directly through The VF Foundation
A total of more than $24 million donated by The VF Foundation, VF Corporation and the Company’s Family of Brands
DENVER--(BUSINESS WIRE)--
The VF Foundation, the philanthropic arm of VF Corporation (NYSE: VFC), today released its second Impact Report, which details how the Foundation positively impacted more than three million people in 73 countries during the period between March 29, 2020, to April 3, 2021.
During this time, The VF Foundation provided grants to support 91 Community Partners around the world and distributed more than $8 million to support efforts centered on its four priorities: 1) Outside Matters: increasing equitable outdoor access and conservation; 2) Worthy Work: educating and inspiring inclusive leaders in apparel and footwear; 3) Free to Be: empowering the freedom of self-expression and creativity; and 4) Disaster Relief and Recovery.
“This report not only gives insights into The VF Foundation’s grantmaking priorities, but it provides a window into the organizations we fueled, the causes we strengthened and the positive change we helped to power,” said Gloria Schoch, Executive Director of The VF Foundation and Director of Global Impact of VF Corporation. “In the upcoming year, we hope to continue working with our partners to help heal our planet and improve lives in the communities where VF operates across the globe.”
In addition to the direct support provided by The VF Foundation, VF’s associates and family of brands also contributed monetary and product donations throughout the year to support disaster relief and recovery efforts. Together, The VF Foundation and VF Corporation, its associates and family of brands, donated more than $24 million during this same period.
“The VF Foundation was established with a simple, yet meaningful purpose: to make the world a better place,” said Steve Rendle, The VF Foundation Board Chair and President and CEO of VF Corporation. “We understand the power of collaboration and the importance of companies like ours investing in change makers to help find solutions for some of society’s toughest issues. Through the work of our Foundation, as well as the generosity of our associates and our family of brands, we are empowering those who aspire for a more just and sustainable world.”
Grantees receiving support from The VF Foundation and highlighted in this year’s Impact Report include:
Outside Matters — The Trust for Public Land, Equitable Communities Fund: The VF Foundation partnered with The Trust for Public Land to help address the outdoor equity gap for the over 100 million people in the U.S., including 28 million children, who do not have access to a park within a 10-minute walk from home. The Foundation grant supported the creation of community-driven, community-designed parks and other open spaces that provide economic and outdoor relief for community-based groups most impacted by the pandemic, including in Denver, Colorado; Los Angeles, California; Dallas, Texas; and Atlanta, Georgia.
Worthy Work — United Nations Foundation, The Resilience Fund for Women in Global Value Chains:The VF Foundation helped launch this groundbreaking fund which brings together corporate investors, foundations and NGO partners to invest in the health, safety and economic resilience of the women who form the backbone of global value chains, including the apparel and fashion industry. Starting in South Asia, The Resilience Fund aims to raise at least $10 million in pooled funding over three years to support locally driven solutions to systemic problems that make women more vulnerable.
Free to Be — Fashion Scholarship Fund (FSF), Alumni Mentoring Initiative: With a grant from The VF Foundation, FSF launched its “Alumni Mentoring Initiative” in order to reach FSF alumni who have graduated from college in the last three years, with a particular focus on alumni from underrepresented backgrounds. This initiative is contributing to the fashion-talent pipeline and highlighting the importance of peer mentorship, inclusion and diversity.
Disaster Relief and Recovery — In the past year, The VF Foundation, along with VF Corporation and its associates and family of brands, donated more than $10.3 million to relief and recovery efforts in communities around the world. The Foundation alone provided nearly $2 million in relief aid to partners.
The VF Foundation's FY 2021 Impact Report is available at vfc.com. The granting cycle and grant requirements are also available online.
About The VF Foundation
With its grantees, The VF Foundation strives to innovate and problem-solve in collaborative ways to drive transformative, lasting change with the vision of creating a more equitable and sustainable world. Since its inception in 2002, the Foundation has granted nearly $60 million globally to meaningfully improve the communities where VF operates. It’s committed to driving movements for the betterment of people and the planet across its key strategic pillars: championing Worthy Work, embracing Outside Matters, empowering creativity and self-expression as we are Free to Be, and supporting Disaster Relief and Recovery. Learn more at https://www.vfc.com/responsibility/the-vf-foundation.
What is the recent impact report from VF Corporation about?
The impact report details over $8 million in grants and more than $24 million in donations made by The VF Foundation, impacting 3 million people globally.
How much did The VF Foundation donate in total?
The VF Foundation, along with VF Corporation and its brands, donated more than $24 million during the reported period.
What areas did The VF Foundation focus on in its donations?
The VF Foundation focused on outdoor access, inclusive leadership, self-expression, and disaster relief in its donations.
How many community partners did The VF Foundation support?
The VF Foundation supported 91 community partners worldwide with its grants.
What is the mission of The VF Foundation?
The VF Foundation aims to drive transformative change and create a more equitable and sustainable world through its various campaigns.
