Newell Rubbermaid announced the formation of the Newell Rubbermaid Foundation today, which will focus on funding educational opportunities for children and young adults.
A five-year endowment goal of $25 million has been instituted for the foundation.Jackie Parker, VP of corporate philanthropy at Newell Rubbermaid, will head up the foundation as president. The entity will be governed separately by an advisory board of the company's executive leadership, according to the press release.
"After great success with Investing in Community, our first company-wide corporate philanthropy program, the establishment of the Newell Rubbermaid Foundation marks a new milestone in our commitment to become a more impactful corporate citizen," said Mark Ketchum, president and CEO of Newell Rubbermaid in a statement.
The foundation will expand upon and support the programs previously developed by Investing in Community, including Annual Week of Caring, as well as partnerships with Junior Achievement, Quality Care for Children, Skills USA, Kids in Need Foundation, and Teach for America.