In the past year, the Red Tab Foundation (RTF) has delivered more than $1.75 million in funds to the LS&Co. community, with money raised almost entirely by our own employees and shareholders. They’ve helped avert or lessen the impacts of more than 1,400 hardships. This week, RTF is launching its Annual Report for Fiscal Year 2020 highlighting the foundation’s efforts to support employees affected by the greatest issues of the day.
The report emphasizes the impact on employees like Fernando, who made more than 50 donations to RTF in the past and never expected to see that money again — and then wildfires raged through his community in Northern California this fall.
The fire moved so quickly through Fernando’s neighborhood that local residents had only minutes to evacuate. Neighbors reached out to neighbors to ensure everyone was notified, and with only pets and loved ones in hand, everyone was able to escape. The inferno blazed for five days, with flames reaching heights of over 100 feet.
“In our neighborhood, the water system was leveled. The tanks, the pumps, the pipes… everything was melted to the ground,” said Fernando. “I reached out to the Red Tab Foundation to see if they could assist us by providing a portable water tank for the community to use while we waited for damage evaluations and assessments to be completed. RTF provided us with this generous donation within 24 hours.”
Fernando’s story is not unique. When unexpected hardships strike, from an eviction to political instability and natural disasters, RTF is around to support employees through unexpected hardships. They tackle the world’s biggest issues through a small scale — by helping people with the financial support they need to make it through.
RTF has largely been considered to be the original employee hardship fund. The foundation launched its playbook earlier this year, open sourcing 40 years of operational insights to any company interested in establishing their own programs. The team has also advised businesses – from small companies to Fortune 500 corporations – on how to establish hardship funds within their own organizations to support their employees.
“It is rare these days to deal with such dedicated and efficient people. My children and I are smiling today thanks to Red Tab Foundation,” said one grantee in France. “I was already very proud to work for LS&Co., and now I am even more so.”
Check out RTF’s Annual Report to read more stories about how employee donations have helped others in need this year.