Brown-Forman makes donation to foundation
Brown-Forman Corporation announced plans to contribute $20 million to the Brown-Forman Foundation. Founded in 2018, the Brown-Forman Foundation serves the company’s strategic charitable mission and ongoing philanthropic endeavors. The Foundation’s efforts focus on arts and culture, education, social services, reduction of alcohol-related harm and environmental sustainability. Its community investments will center on the company’s hometown, with a special emphasis in west Louisville.
The $20 million contribution follows an initial $70 million donation from the company that provided the principal funding for the creation of the Foundation. The team anticipates using the investment results from the combined approximate $90 million corpus beginning this year and for years to follow.
In 2020, Brown-Forman Corporation and the Brown-Forman Foundation’s combined charitable contributions totaled $13 million. Investment recipients included the Republic Bank Foundation YMCA, Volunteers of America, Actors Theatre of Louisville and Simmons College Kentucky.
COVID-19 response donations elevated this year’s total and included contributions to the One Louisville COVID-19 Relief Fund, the Restaurant Workers’ Community Foundation COVID-19 Crisis Relief Fund and the United States Bartenders’ Guild (USBG) Foundation Emergency Assistance Program.
“We have been a proud corporate citizen of our hometown for our entire 150-year history. This gift of $20 million to the Brown-Forman Foundation will help it generate investment dollars to be used to further education and community building in an area that has experienced the effects of systemic racism for far too long.
This important investment is part of our commitment to be better and do better as individuals, leaders, and teams in Louisville and our west Louisville home,” says Lawson Whiting, President and CEO, Brown-Forman Corporation.