Andersons donating $1M to charities
Firm cites community need; 75% of money going to local groups
11/27/2013The Andersons is getting into the holiday spirit of giving by announcing plans to donate at least $1 million to local charities in Toledo and Columbus.
About 75 percent of the $1 million will go to Toledo-area organizations.
“The company’s performing better than we thought and there is plenty of need out there so we determined it was a good idea to put the money into the community right now, rather than give it to the foundation to give out over time,” said CEO Mike Anderson.
The Andersons also operates a foundation that gives year round to various charitable organizations, but this gift is a special donation that will go directly to more than 100 organizations primarily in the form of Andersons store gift cards.
“We wanted to have a more immediate impact at the holiday time. There is a lot of need and we thought we would do more than normal,” Mr. Anderson said.
Company officials would not name the organizations that will receive the gift cards but said “more than half of the contributions are being provided to organizations that provide basic needs such as food, clothing, and shelter,” said Julie Payeff, community commitment manager.
In addition to the $1 million in direct donations to charitable organizations, The Andersons will give the Old Newsboys Goodfellow Association and the Salvation Army the chance to receive store gift cards if the groups receive matching donations during the holiday season.
The Old Newsboys charity raises money each year to donate proceeds to assist children and their families. This year the group can earn up to $50,000 from The Andersons during its annual collection on Dec. 6 at all three Toledo-area stores. The group will receive $3 in Andersons gift cards for every $1 it raises that day.
Likewise, the Salvation Army in Toledo and Columbus can split a pot of up to $300,000 from The Andersons in matching gifts for money collected in the Red Kettle Campaign between Dec. 12-14. The Andersons will match $3 in gift cards for every dollar earned. The Salvation Army in Toledo will distribute the gift cards to families in need, said Andersons Spokesman Debra Crow.
Earlier this month, The Andersons Inc. reported a third-quarter profit of $17.2 million, a 2 percent increase over the same period a year ago when the company had profits of $16.9 million.
“We had a record third quarter, due to the exceptional results seen in our Ethanol and Rail groups,” Mr. Anderson said.
Contact Marlene Harris-Taylor at: mtaylor@theblade.com or 419.724-6091.