Saturday, July 13, 2024

Reed Donates £10,000 Weekly to Charity For a Year In Honor of Founder’s 90th Birthday

In honor of Reed’s 65th year in business and Founder Sir Alec Reed’s 90th birthday, the Reed Foundation, part of the Reed Group, will be making charity donations of £10,000 weekly for a year to 52 different charities.

Each week, a randomly selected Reed employee will nominate a charity to receive the donation. By April 2025, the Reed Foundation will have donated an impressive £520,000 on behalf of 52 employees.

Sir Alec Reed, CBE, Founder of Reed, commented: “I’ve always believed it’s our duty as a business to have a positive impact on the world around us, by supporting communities both near and far. In the last twenty years, The Reed Foundation has donated over £22.5m to charities.”

Sir Alec Reed’s numerous charitable initiatives, including the match-funding charity Big Give, have raised hundreds of millions of pounds. Over the years, he has founded seven charities and two schools and authored four business books. Knighted in 2011 for his services to business and charity, Sir Alec also founded several companies, with Reed established in 1960.

Reflecting on the milestone, he says, “Reaching a milestone birthday this year, along with 65 years of the Reed Group, inspired us to do something extra special.”

The Reed Foundation owns 18% of Reed, making it the largest single shareholder of the business. Under the new scheme, employees can choose any UK-registered charity regulated by the England & Wales Charity Commission, Scottish Charity Commission, or Northern Ireland Charity Commission to receive donations.

“We are incredibly excited to see what charities will be picked and the impact it will have on the community that relies on them. This gives our co-members the opportunity to choose causes which matter to them and make a real difference to charities close to our hearts.

“We hope our donations not only drive a positive impact for a plethora of UK charities but will also help to offer support and stronger purpose to our much-appreciated employees”, concludes Sir Alec.

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