Vista Outdoor Forms Vista Outdoor Corporate Foundation

Rhea-AI Summary

Vista Outdoor (NYSE: VSTO) announced the launch of the Vista Outdoor Corporate Foundation with an initial contribution of $3 million. The Foundation aims to partner with non-profits focusing on conservation and outdoor access, aligning with Vista's mission. CEO Chris Metz emphasized the Foundation's role in fostering outdoor enthusiasm and protecting open spaces. The Board includes Vista employees and will govern the Foundation's operations. Funding requests will be accepted from qualified non-profits starting Summer 2021, with applications considered based on specific criteria.

Positive

• Launch of the Vista Outdoor Corporate Foundation with a $3 million funding boost.
• Focus on partnerships with non-profits aimed at conservation and outdoor access.
• Formation of a structured Board of Directors to manage the Foundation.

Negative

• None.

ANOKA, Minn., May 19, 2021 /PRNewswire/ -- Vista Outdoor Inc. (NYSE: VSTO), a leading global designer, manufacturer and marketer of consumer products in the outdoor sports and recreation markets, today announced the launch of the Vista Outdoor Corporate Foundation (the "Foundation") and an accompanying $3 million initial contribution.

The Foundation will partner with non-profits that support conservation, outdoor access and other causes aligned with Vista Outdoor's Purpose, Vision and Commitments. The Foundation is a not-for-profit, tax-exempt Delaware corporation under Section 501(c)(3) of the Internal Revenue Code.

"The creation of the Vista Outdoor Corporate Foundation is a critical step in support of our commitment to bring the world outside," said Chief Executive Officer Chris Metz. "The Foundation will allow us to make commitments to non-profit partners that promote conservation, outdoor access, and other causes that unite our diverse portfolio of brands and customers. Our Foundation partners will also help us protect open spaces, get more people outside and create the next generation of outdoor enthusiasts. The Foundation is a natural progression of our culture, which at its core includes a desire to do well so we can do good."

Vista Outdoor has appointed Dylan Ramsey, its General Counsel & Corporate Secretary, as the initial Chairman of the Foundation's Board of Directors. The Foundation's Board of Directors also includes six other Vista Outdoor employees that represent a broad cross-section of the Vista Outdoor organization. The Foundation's Board of Directors will govern and manage the affairs of the Foundation in accordance with the Foundation's Bylaws and approve donations by the Foundation to qualified non-profit partners.

Funding requests will be considered from prospective non-profit partners that meet the following criteria:

• Recognized by the IRS as a Public Charity and headquartered in the United States.
• Have a mission and objectives that are aligned with that of the Foundation's.
• Demonstrated track record in effective programming, organizational and financial management.
• Have an ability to demonstrate the impact of its programs and share progress against stated objectives with the Foundation.

The Foundation will consider requests for funding from qualified non-profit organizations beginning in the Summer of 2021. More information on this process can be found at www.vistaoutdoor.com/Foundation.

About Vista Outdoor Inc.

Vista Outdoor is a leading global designer, manufacturer and marketer of consumer products in the outdoor sports and recreation markets. The company has a portfolio of well-recognized brands that provides consumers with a wide range of performance-driven, high-quality and innovative products for individual outdoor recreational pursuits. Vista Outdoor products are sold at leading retailers and distributors across North America and worldwide. For news and information, visit www.vistaoutdoor.com or follow us on Twitter @VistaOutdoorInc and Facebook at www.facebook.com/vistaoutdoor.

Media Contact:

Fred Ferguson
Phone: 571-343-7006
E-mail: media.relations@vistaoutdoor.com

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/vista-outdoor-forms-vista-outdoor-corporate-foundation-301294734.html

SOURCE Vista Outdoor Inc.

FAQ

What is Vista Outdoor's new initiative announced on May 19, 2021?

Vista Outdoor launched the Vista Outdoor Corporate Foundation with a $3 million initial contribution.

What is the purpose of the Vista Outdoor Corporate Foundation?

The Foundation aims to support non-profits focused on conservation and outdoor access.

When will Vista Outdoor start accepting funding requests for its Foundation?

Funding requests will be considered starting in Summer 2021.

Who will manage the Vista Outdoor Corporate Foundation?

The Foundation will be managed by a Board of Directors, including Vista Outdoor employees.

What types of non-profit organizations can apply for funding from the Vista Outdoor Foundation?

Non-profits must be recognized as Public Charities, aligned with the Foundation's mission, and demonstrate effective programming.