ATLANTA, April 28, 2015 /PRNewswire/ -- ToolBank USA announced a $1 million commitment from Stanley Black & Decker in support of its expansion plan for the national ToolBank network. The investment will be fulfilled over three years, and is Stanley Black & Decker's second major multi-year gift to the organization. The pledge is ToolBank USA's largest gift since the organization was founded in 2008, and will support ToolBank's existing operations, expansion in strategic markets, and ToolBank Disaster Services, a mobile tool lending truck that deploys in support of communities affected by disasters.
The national ToolBank network is changing the way Americans build, strengthen, and revitalize communities by providing reliable access to critically-needed tools. Charities, schools, and faith-based organizations borrow ladders, rakes, drills, and dozens of additional tools from their local ToolBank to equip volunteers and perform service projects, while reducing overall expenses. In 2014, ToolBanks loaned nearly $4 million worth of tools to charitable organizations, equipping roughly 142,000 volunteers to improve their local communities.
"Where there are volunteers committed to bettering their community, we want to be there to provide the STANLEY and DEWALT tools that they can rely on to get the job done," said Tim Perra, Vice President of Communications for Stanley Black & Decker. "Whether it's in one of the ToolBanks in major metropolitan areas across the U.S., or in a community impacted by a natural disaster, we are proud to continue our tradition of providing the best tools to those who are helping to strengthen their communities."
"The generous support from Stanley Black & Decker has empowered ToolBank USA's strategic focus on replication," said Dan Webber, Board President of ToolBank USA and Vice President of Technology for UST Global. "Renewal of support will fuel our current efforts to establish enterprise-level infrastructure for the current ToolBank network, and fuel the many ToolBanks to come. Our vision to 'end tool scarcity for America's volunteers' has made a quantum leap forward, thanks to our partnership with Stanley Black & Decker."
ToolBank USA currently has operating affiliates in Atlanta, Baltimore, Charlotte, Cincinnati, Houston, Phoenix, and Richmond VA, with new ToolBanks opening in Portland OR and Chicago within the next twelve months. ToolBank USA will continue to work collaboratively with non-profit organizations and their volunteers nationwide as partners working towards positive, effective community revitalization.
About Stanley Black & Decker
Stanley Black & Decker, an S&P 500 and FORTUNE 500 company, is the world's leading provider of tools and storage, the world's second-largest commercial electronic security company, and a leading engineered fastening systems developer. Well-known brands include: STANLEY, BLACK+DECKER, DEWALT, Porter-Cable, Bostitch, Facom, Mac Tools, Proto, Vidmar, Lista, and more. Learn more at www.stanleyblackanddecker.com.
About ToolBank USA
ToolBank USA (a 501C3 nonprofit organization) leads the national movement to make high-quality tools and equipment available to nonprofits and their volunteers. The ToolBank's signature lending model allows charities to focus on their mission while relying on ToolBanks to provide, store, and repair critically-needed tools and equipment. The national ToolBank movement is bringing Tools for Change® to communities across the United States. Visit www.toolbank.org for more information.
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SOURCE Stanley Black & Decker