The Lubrizol Foundation Reports $2.5 Million in 2010 Grants
Represents a more than 6% increase compared with 2009
CLEVELAND, May 9, 2011 - The Lubrizol Foundation, the philanthropic entity of The Lubrizol Corporation (NYSE:LZ), today announces the release of its 2010 annual report disclosing the distribution of more than $2.5 million in grants to a variety of nonprofit organizations and educational institutions for programs that support education, health and human services, civic and cultural activities and others. The 2010 grants, an increase of more than 6 percent versus 2009, reflect the strong commitment to supporting organizations in communities, primarily within the United States, where Lubrizol operates major facilities.
"The Foundation's philanthropic priorities include directing more of our available dollars to those organizations where the greatest good can be accomplished. This can be done by more fully integrating donations with other aspects of Lubrizol's corporate citizenship, including community outreach, employee volunteerism and the donation of materials and services," said Dave Enzerra, president, The Lubrizol Foundation. "We believe our ongoing efforts are a major reason we were cited by Corporate Responsibility magazine as one of the top 100 corporate citizens for each of the last two years."
The Foundation's matching gift program awarded $879,578 last year, an increase of 9 percent compared with 2009, and represents employees' continued charitable support. Matching gift dollars were awarded to 1,050 charitable and non-profit organizations. In all, 882 employees and retirees took advantage of this program, which matches, dollar for dollar, individuals' donations to qualifying charitable organizations. In addition, The Foundation's Community Connection program awarded $20,100 to 46 charitable organizations where employees volunteer their time.
Grants to education totaled $616,026, which include $398,800 in total scholarship support to 34 institutions of higher learning. Grants to health and human services organizations totaled $717,312 for the year. Civic and cultural and environmental organizations combined received $226,000. Organizations supporting youth activities received $87,000.
The Foundation continues to match employee contributions to the United Way Services of Greater Cleveland, Lake County and Texas Gulf Coast, as well as United Way agencies in adjacent counties. Support to these United Way agencies totaled $460,526, which includes ongoing annual support as well as employee-match contributions. The Foundation was the single largest donor to the Lake County United Way 2010 campaign, contributing $110,200.
On a local basis, The Foundation awarded $30,000 to The Cleveland Orchestra, in support of the 2010 annual fund; $28,000 to Cleveland Technical Societies Council, in support of scholarships; $35,000 to Fairhill Partners, toward building renovations; $30,000 to The Cleveland Museum of Natural History, in support of the Extreme Mammals Exhibit; and $25,000 to the Cleveland Rowing Foundation, toward the Rivergate Park Project.
The Lubrizol Foundation's 2010 Annual Report can be viewed at www.lubrizol.com.
About The Lubrizol Foundation
The Lubrizol Foundation is an endowed 501(c)(3) entity and is the primary source of The Lubrizol Corporation's philanthropy in the United States. Established in 1952, The Lubrizol Foundation makes grants in support of education, health care, human services, civic, cultural, youth and environmental activities. The Lubrizol Foundation creates and supports partnerships that improve communities in which Lubrizol employees live and work.
About The Lubrizol Corporation
The Lubrizol Corporation (NYSE: LZ) is an innovative specialty chemical company that produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, other transportation-related fluids and industrial lubricants, as well as fuel additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for personal care products and pharmaceuticals; specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives. Lubrizol's industry-leading technologies in additives, ingredients and compounds enhance the quality, performance and value of customers' products, while reducing their environmental impact.
With headquarters in Wickliffe, Ohio, The Lubrizol Corporation owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 7,000 employees worldwide. Revenues for 2010 were $5.4 billion. For more information, visit www.lubrizol.com.
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Source: Lubrizol via Thomson Reuters ONE
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