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February 27, 2008
80 million ISK in grants to various projects in 2007
Alcoa Fjardaál and the Alcoa Foundation jointly granted over 80 millions ISK to various community projects in East and North Iceland in 2007. The grants are given to NGOs and institutions for diverse projects with the aim of enriching and fortifying a sustainable community. From 2003, Alcoa has invested a total of 270 millions ISK, or almost 4 million US$ in projects of this kind in Iceland.
Alcoa Fjardaál funded more than 30 projects in the year 2007, to the amount of 26 millions ISK. The largest individual grant was made to the outdoor skiing area in Stafdalur, which is shared by two communities, Seydisfjordur and Fljótsdalshérad. The grant was in the form of a fully outfitted cabin, which formerly served as the Alcoa Fjardaál information center.
Among the projects funded by Alcoa Fjardaál is 700IS Reindeer Land, an international cinema and video festival in Egilsstadir, the Cultural Center in Eskifjörður, Sprettur Sports Fund, which contributes towards various sports in East Iceland, the Egilsstadir Jazz Festival, the East Iceland Women’s Network, the website www.birds.is, the Fjardabyggd Quire and the Immigrant Interpretation Project.
The Alcoa Foundation funded ten projects in Iceland last year, with a total of 56 million ISK, in grants ranging from 1 to 16 million ISK. The largest single grant was made to the National Museum of Iceland to renovate the Sómastadir historical building in Reydarfjordur, close to the Fjardaál smelter site. Other grants include the setup of the East Iceland Knowledge Center in Egilsstadir, a diversity education program in Nesskóli public school, to meet the needs of young people who for some reason have fallen outside the traditional school system, the operation of the Tryggvi Ólafsson Art Museum in Neskaupstadur, and medical instruments for the hospital in Neskaupstadur.
In the northern part of the country, Alcoa Foundation supported a number of social and economic development projects including a home for the disabled, transportation services for children in rural areas, to exercise and health programs, promoting tourism and producing renewable fuel with organic waste from farms.
Alcoa Foundation is a separately constituted nonprofit U.S. corporate foundation with assets of approximately $542 million. Its mission is to actively invest in the quality of life in Alcoa communities worldwide. Throughout its history, the Foundation has been a source of positive community change and enhancement, with nearly $466 million invested since 1952.
The Foundation's grants address global and local needs in over 36 countries by partnering with Alcoa communities around the world to make a difference. Global and local grantmaking is responsive to the needs and aspirations of Alcoa communities and marshals the combined expertise, energies, and values of Alcoa and Alcoa Foundation to provide a world-class standard of excellence in corporate citizenship.
In 2007, Alcoa and Alcoa Foundation invested a combined total of $49.0 million in community programs in 36 countries, focusing on four areas of excellence: conservation and sustainability, global education and workplace skills, business and community partnerships, and safe and healthy children and families.
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