Starbucks and LISC to Help Revitalize Communities
15 Aug 2008
Coffee purveyor names Local Initiatives Support Corporation as first domestic beneficiary of
its Starbucks Card Duetto® Visa® philanthropy program
Contact:Stephanie O'Keefe |
For Immediate Release:August 15, 2008 |
NEW YORK (August 15, 2008) – Starbucks Coffee Company has tapped Local Initiatives Support Corporation (LISC) as the next U.S. beneficiary of its global corporate philanthropy effort linked to the Starbucks Card Duetto® Visa® card.
Starbucks will support LISC's work Building Sustainable Communities by donating $5 to the national community development organization every time one of its Duetto® cards is activated. Building Sustainable Communities is LISC's comprehensive effort to help local communities continue to be good places to live, work, raise families and do business. Since 1980, LISC has invested $8.6 billion to help community-based organizations build affordable homes, retail and community space, schools, child care centers and recreational facilities.
LISC raises the capital for community-focused grants, loans and equity investments from foundations, corporations and individuals. Support comes from diverse organizations, ranging from financial institutions, to the National Football League, to its newest supporter, Starbucks.
"Having Starbucks as a supporter is a terrific opportunity for us," commented Michael Rubinger, LISC's president and CEO. "It's not just about the money this program will raise, though we are certainly excited about that. It's about Starbucks recognizing the importance of raising awareness and revitalizing our local communities."
LISC's Building Sustainable Communities program focuses on five key objectives:
- Expanding capital investment in housing and other real estate;
- Building family income and wealth, including improving residents’ skills and access to living wage jobs;
- Stimulating local economic activity, including connecting targeted neighborhoods to the regional economy and beyond;
- Improving residents’ access to quality education; and
- Developing healthy environments and lifestyles, including safe streets and recreational amenities, community clinics, and environmentally sound design.
About LISC
LISC combines corporate, government and philanthropic resources to help community-based organizations revitalize underserved neighborhoods. Since 1980, LISC has raised more than $8.6 billion to build or rehabilitate more than 230,000 affordable homes and develop 32 million square feet of retail, community and educational space nationwide. For more information, visit www.lisc.org.
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About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. Today, with over 16,000 stores in 45 countries, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at www.starbucks.com.
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Article Type: Press Release