Tuesday, March 11, 2008

PepsiCo Donates $1 Million to UNCF

NEW YORK CITY — PepsiCo has committed $1 million to the United Negro College Fund (UNCF) to help provide financial support to UNCF's 39 member institutions and scholarships to students at over 900 colleges and universities around the country. PepsiCo, one of the world's largest food and beverage companies, made the donation on March 7 at UNCF's 64th Anniversary Dinner in New York, where it was the presenting sponsor. The event raised a total of $2.7 million.

"PepsiCo is a proud supporter of UNCF and has been for 60 years. We are committed to expanding opportunities to help minority students secure higher education," said Indra Nooyi, CEO and chairman of PepsiCo. "That's why we're excited to present this gift of $1 million to UNCF to ensure that deserving young people continue to get a chance to go to college and earn degrees -- and have the opportunity to make their mark in the world."

Minority education has long been a funding priority for PepsiCo's Foundation. In 1981, PepsiCo donated $1 million, the largest multi-year corporate donation ever pledged to UNCF's annual campaign at that time. Last year alone, the PepsiCo Foundation provided grants for education programs in excess of $8 million to fund education programs that promote academic excellence for all students.

UNCF — the United Negro College Fund — is the nation's oldest and most successful minority education assistance organization. Its mission is to increase minority degree attainment by providing financial support to its 39 member institutions, reducing financial barriers to college and serving as a national advocate for minority education. UNCF institutions and other historically black colleges and universities are highly effective, awarding 18 percent of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 900 colleges and universities across the country.

PepsiCo is one of the world's largest food and beverage companies, with 2007 annual revenues of more than $39 billion. The company employs approximately 185,000 people worldwide, and its products are sold in approximately 200 countries. Its principal businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The PepsiCo portfolio includes 17 brands that generate $1 billion or more each in annual retail sales. PepsiCo's commitment to sustainable growth, defined as Performance with Purpose, is focused on generating healthy financial returns while giving back to communities the company serves. This includes meeting consumer needs for a spectrum of convenient foods and beverages, reducing the company's impact on the environment through water, energy and packaging initiatives, and supporting its employees through a diverse and inclusive culture that recruits and retains world-class talent.

This donation underscores PepsiCo's investment in minority men and women. The company's generosity will enable thousands of students to pursue degrees that will help them play important roles in the global economy.

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