GABM's $10-Million US Dollar donation towards the Hurricane Katrina Relief Efforts
In response to the devastation caused by Hurricane Katrina, Global Association of Billionaires and Millionaires (GABM) has donated $10-million US Dollar towards the relief efforts.
GABM, who has gained international recognition for its commitment to global philanthropic programs, has also earlier donated a similar amount of $10-million US Dollar to the Asian Tsunami disaster.
"Our hearts go out to the victims affected by this massive storm. The extent of the devastation is simply unimaginable. Therefore, GABM and its members have decided that we would like to make a difference by donating $10-million US Dollar to this just and fair cause." Said Mark Paulsmeier, newly elected President of GABM.
Hurricane Katrina has been regarded as the disaster which has created the most havoc and infrastructural destruction to America in decades. It has left millions of people without homes, food and water.
"It is in challenging circumstances like these that corporates need to reflect their true character towards good corporate citizenship. Our donation serves as encouragement to other like-minded and prominent organizations to embrace the opportunity to reciprocate to communities which has served them so well." added Mr. Paulsmeier.
How does GABM allocate funds to natural and humanitarian disasters?
GABM’s equity grants towards global natural and humanitarian disasters are funded from the funds generated by the annual GABM associate membership fees.
By making these donations GABM also believe it will serve as an encouragement to other like-minded and prominent organizations to become good corporate citizens, as well as to support our ‘Let’s Do More Initiative’.
Depending on the nature and the geographical region of a natural or humanitarian disaster, GABM will donate funds to organizations like the Red Cross, United Nations and others to support large scale relief efforts. GABM also in certain cases allocate bank debit cards to victims directly to enable them to acquire emergency food, fresh water, blankets and tent shelters.
How does GABM allocate funds to natural and humanitarian disasters?
GABM’s equity grants towards global natural and humanitarian disasters are funded from the funds generated by the annual GABM associate membership fees.
By making these donations GABM also believe it will serve as an encouragement to other like-minded and prominent organizations to become good corporate citizens, as well as to support our ‘Let’s Do More Initiative’.
Depending on the nature and the geographical region of a natural or humanitarian disaster, GABM will donate funds to organizations like the Red Cross, United Nations and others to support large scale relief efforts. GABM also in certain cases allocate bank debit cards to victims directly to enable them to acquire emergency food, fresh water, blankets and tent shelters.
