|FedEx Corp. Receives Tennessee Board of Regents' Philanthropy Award
For release: July 7, 2006
For press information, contact
As a $30-billion network of companies that spans 220 countries and territories and created a "world with no borders, just time zones," FedEx is one of the world's most recognizable brands. Now FedEx has received the Regents Award for Excellence in Philanthropy from the Tennessee Board of Regents. The award was presented at TBR's quarterly meeting June 30.
In addition to its well-known brand, the company is widely known for its philanthropy and was named "Best of America" by Readers Digest magazine as one of America's best charity-minded organizations. This year Fortune magazine ranked FedEx sixth among "America's Most Admired Companies" and eighth among "The World's Most Admired Companies."
FedEx is committed to the communities it serves. This commitment is demonstrated daily through a workforce of 250,000 people, who all are encouraged to be responsible corporate citizens and good neighbors. "Employees are heavily involved in volunteerism; it is imbedded in the corporate culture," said U of M President Shirley Raines in her nomination. "The corporation develops strategic relationships with charitable organizations of shared values. At FedEx, giving back is about more than money; it is about generous gifts of time and talent."
Last year FedEx gave more than $14 million to the United Way, and employees across the country participated in United Way events such as the "Day of Caring" in Memphis. FedEx recently announced a three-year national sponsorship of the March of Dimes WalkAmerica, and last year more than 10,000 employee volunteers raised funds to fight birth defects and infant mortality. Through its alliance with the American Red Cross, FedEx provides quick responses to worldwide disasters by using its logistics and transportation expertise and offering complimentary shipping and other services.
Because Memphis is the company's corporate home, FedEx also demonstrates its world-class spirit of generosity through contributions to the University of Memphis. The company's initial gift of $5 million in 2001 produced a public-private partnership that established the first institution of its kind to adopt a major corporate name, the FedEx Institute of Technology. In 2002 FedEx donated $250,000 to launch the FedEx Institute's new Center for Supply Chain Management.
In 2005 the University announced an additional FedEx gift of $5 million over five years for the Institute. This gift is a tangible indication of the company's continued commitment to the University and a validation of its faith in the ability of the Institute to carry out its mission. The gift will support research, facilitate the recruitment of internationally recognized faculty, and fund initiatives, such as the visiting speakers' series and residency program for innovators, artists and CEOs.
FedEx Executive Vice President and CIO Rob Carter said that the company's continued support of the FedEx Institute of Technology is an extension of the company's vision and culture, providing a mechanism for the continued development of new ideas that generate solutions for the real world and improved quality of life for our world communities.
In addition to monetary contributions, FedEx leaders have helped shape the Institute by providing leadership, expertise, and influence. FedEx has led numerous companies, including Fortune 500 organizations, to become involved with and to support the Institute.
"The company's reputation is one of its greatest assets, and I appreciate the incredible generosity of FedEx in helping to grow our greatest asset: the intellectual capital of our faculty, staff and students," said Raines.
News & Events