2007 Community Giving Summary
Duke Energy contributes to its communities through civic leadership, volunteerism and contributions. While we often talk about the company’s giving in terms of the Duke Energy Foundation, that’s only part of the story.
Each year, we aggregate all of the contributions made by Duke Energy, including Foundation and other cash contributions; in-kind gifts and services; and the contributions and the value of volunteerism of our employees and retirees. In 2007, charitable giving from the Duke Energy Foundation, Duke Energy Corporation and its employees and retirees totaled more than $31 million.
|Strategic charitable grants supporting the Duke Energy Foundation’s philanthropic focus areas.||
Duke Energy charitable dollars are allocated across the states we serve, and are evaluated locally by regional contributions councils. Our direct charitable giving supported these focus areas:
|Other contributions, goods and services||
|Charitable sponsorships, donations of goods, property and services.|
|Subtotal: Charitable Giving||
|Each year we compare our charitable giving to industry benchmarks. Our total charitable giving of over $20 million in 2007 is on par with industry benchmarks at just under 1 percent of pre-tax net income.|
|Leveraged funds and value of volunteerism||
|Duke Energy employee and retirees also generously contribute volunteer time as well as cash contributions through company supported programs such as matching gifts, volunteer grants and United Way campaigns.|
- In 2007, Duke Energy, its employees and retirees contributed nearly $5 million to United Way agencies in the U.S. The United Way of Central Indiana recognized Duke Energy for the largest increase in corporate giving in 2007, 47 percent over the previous year.
- Duke Energy worked hard in 2007 to create positive outcomes in the safety area by providing nearly $1.3 million to charitable organizations that provided educational programs on safety and advocacy for safe work habits, and healthcare or other services for victims of accidents.
- Duke Energy Kentucky recently received the Outstanding Corporate Leadership – Large Business Award at the 2007 Northern Kentucky Celebration of Philanthropy.
In addition to the $31 million in charitable contributions, Duke Energy invested over $17.5 million in our communities through regulatory and other business initiatives, including:
- Duke Energy Carolinas’ shared profits from bulk power marketing (BPM) through a series of innovative programs with industrial customers, economic developers and public assistance agencies in the Carolinas. Contributions from BPM in 2007 totaled over $7.2 million, including $2.65 million for programs for low-income customers such as Share the Warmth, Cooling Assistance and Fan Relief; approximately $3 million to the North Carolina Community College Grant Program; and $1.58 million to education in South Carolina through AdvanceSC. Although the majority of these dollars provided services in 2007, a portion of the dollars are held in community funds to be distributed in coming years.
- Low-income energy assistance programs in Ohio (HeatShare), Kentucky (WinterCare), and Indiana (Helping Hand) received over $750,000 from Duke Energy and close to an additional $225,000 from employee and customer contributions. Programs for low-income customers in the Carolinas – Share the Warmth, Cooling Assistance and Fan Relief – are funded from a variety of sources, including customer and employee contributions, BPM profit sharing and the Duke Energy Foundation.
- We announced a unique partnership, valued at $1.5 million, with Furman University in South Carolina to showcase the latest technology in sustainability and energy efficiency.
- As part of the Catawba-Wateree hydro relicensing process, we donated $9.32 million to support the purchase of land in the Catawba-Wateree River Basin by the states of North Carolina and South Carolina for public recreation, wildlife habitat and/or compatible permanent conservation.