KAR’s Donation, Coupled with Midwest Food Bank Leverage, Will Yield Nearly $1 Million in Food for the Hungry
The central Indiana employees of KAR Auction Services Inc. d/b/a KAR Global (NYSE: KAR) tackled food insecurity and hunger for the 9th consecutive year with a “Foodless Food Drive” competition that raised $24,446 for Midwest Food Bank. There were no canned goods or nonperishable food items collected. Instead, KAR Global employees participated in a friendly competition to raise money to help hungry neighbors in need.
“Every year, one of KAR Global’s biggest fundraisers in central Indiana is our food drive — always yielding tens of thousands of pounds of food,” said Becky Doemland, director of community relations and corporate social responsibility communications at KAR Global. “This year, we wanted to make an even bigger impact. We knew that monetary donations could do just that, especially when every dollar donated to Midwest Food Bank results in more than $40 worth of food for the hungry. Our donation of more than $24,000 will be used to transport and distribute more than $960,000 worth of food.”
Food banks like Midwest Food Bank are warehouses where pallets of canned and boxed food are moved around with forklifts. Large quantities of food are distributed from food banks to smaller, local food pantries and hunger-relief programs. Food banks work with national distributors and grocery chains to increase their leverage, so every donated dollar yields more than $40 in distributed food. For this reason, food banks generally appreciate financial gifts over donated food items.
“We are thrilled that KAR Global and its employees have taken this innovative approach to giving back,” said John Whitaker, Executive Director at Midwest Food Bank. “Cash donations offer our organization more flexibility and efficiency in meeting the needs of our community. We operate on a budget of less than $1 million dollars a year and give away more than $40 million worth of meals. Our partnership with KAR Global will help us feed more families.”
Midwest Food Bank has eight locations in the United States, and two international locations, in East Africa and Haiti. The non-profit agency operates through a network of volunteers, who are fundamental to the success of the organization. Information about donating and opportunities to volunteer can be found at midwestfoodbank.org.