Thursday October 7, 11:14 am Eastern Time
Company Press Release
biz.yahoo.com
One Down, 99 to Go -- Home Depot, NASCAR Complete First of 100 Habitat for Humanity Homes
#20 Racing Merchandise Available in all Home Depot Stores
CHARLOTTE, N.C., Oct. 7 /PRNewswire/ -- Arthur M. Blank, president and CEO of The Home Depot (NYSE: HD - news), today leads the dedication ceremony for the first of the more than 100 Habitat for Humanity houses the retailer plans to build throughout North America over the next two years as part of its NASCAR sponsorship.
Through an unprecedented philanthropic initiative, the world's largest home improvement retailer has joined with NASCAR, Action Performance Companies, Joe Gibbs Racing, Pontiac and driver Tony Stewart to help raise more than $4 million for Habitat for Humanity, the non-profit organization that provides home ownership opportunities for low-income families.
The completion of the first Habitat home coincides with the arrival of NASCAR merchandise in all Home Depot stores this month. To further highlight the program, Stewart will run a special Habitat for Humanity design on the #20 Home Depot Pontiac during the UAW/GM Quality 500 Oct. 10.
``This is a wonderful opportunity for Home Depot and NASCAR to join together in a way that can truly make a difference in the lives of others,' said Blank. ``One of Home Depot's core values is fulfilling our commitment to 'give back' to the communities where we live and work. It's part of our culture.'
According to David Williams, senior vice president for Habitat for Humanity International, the Home Depot/NASCAR effort has the potential to become the largest single donation in the organization's history.
``Habitat offers low-income families a chance to own a piece of the American dream -- a home of their own,' said Williams. ``We offer families a hand up as opposed to a handout. Home Depot and NASCAR's commitment in terms of the funds and volunteers is tremendous.'
NASCAR chief operating officer Mike Helton, and Winston Cup team owner Joe Gibbs joined Blank and volunteers from Home Depot and Habitat for the dedication. For the past several weeks, Charlotte-area Home Depot volunteers and representatives from NASCAR -- including Gibbs and Stewart -- donned tool aprons to help build the first Habitat house for new homeowners Michael Baucom, fiancee Beverly Little, and daughters Essence, 5, and Mickeala, 3.
The funds to support Habitat for Humanity are being raised through the sale of commemorative merchandise-including collectible die-cast cars, apparel and other souvenir items. For only October, limited quantities of the merchandise are being sold in all 866 Home Depot stores in the U.S. and Canada. All proceeds and royalties from the sale of the merchandise sold in Home Depot stores will be donated to Habitat for Humanity.
Action Performance, which provides and markets Stewart's merchandise, also is offering the Habitat-themed collectibles at trackside, the RCCA collector's club and goracing.com . Action is donating a portion of its product royalties toward the charitable fund for Habitat for Humanity.
The Home Depot and Habitat for Humanity
In 1989, The Home Depot began building houses in conjunction with Habitat for Humanity and since then has supported more than 150 Habitat for Humanity affiliates throughout North America. Through contributions of more than $4.5 million in cash and materials and thousands of volunteer hours, The Home Depot has helped build more than 100 Habitat for Humanity houses.
Habitat for Humanity
Founded in 1976 by Millard Fuller and his wife Linda, Habitat for Humanity International is a nonprofit, ecumenical Christian housing ministry that seeks to eliminate poverty housing from the world, and to make decent shelter a matter of conscience and action. Through volunteer labor and tax-deductible donations of money and materials, Habitat builds or renovates simple, decent houses with the help of volunteers and homeowner (partner) families.
Habitat is not a give-away program. Habitat houses are sold to partner families at no profit and are financed with affordable, no-interest loans. In addition, Habitat homeowners invest 100 to 500 hours of their own labor -- sweat equity -- into building their house and the houses of others. To date, Habitat has built almost 80,000 houses around the world, providing some 400,000 people in more than 2,000 communities with safe, decent, affordable shelter.
The Home Depot and NASCAR
In September 1998, The Home Depot announced a long-term partnership with Joe Gibbs Racing to field the #20 Pontiac in the NASCAR Winston Cup Series beginning with the 1999 season. Two months later, The Home Depot commitment to NASCAR was strengthened with its three-year pact to become the Official Home Improvement Warehouse of NASCAR.
Founded in 1978, in Atlanta, Ga., The Home Depot currently operates 866 stores in the United States, Canada, Puerto Rico and Chile. The company reported net sales for fiscal 1998 of $30.2 billion and employs more than 190,000 people.
SOURCE: The Home Depot |
