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Eaton Announces Charitable Contributions of Nearly $4.7 Million

11 May 2000

Eaton Corporation Announces Charitable Contributions of Nearly $4.7 Million in 1999; $1.67 Million Distributed in Cleveland Area

    CLEVELAND--May 10, 2000--Eaton Corporation today reported that it granted nearly $4.7 million in philanthropic contributions in 1999, primarily in the U.S. and North America.
    In addition to the $4.7 million, Aeroquip-Vickers, which was acquired by Eaton in 1999, contributed $815,000 to domestic non-profit organizations. Eaton distributes funds to non-profit organizations and educational institutions for support of programs that address the company's twin giving priorities of education and community improvement.
    "We are committed to being a partner in the communities and neighborhoods in which we operate," explained Stephen R. Hardis, Eaton's Chairman and Chief Executive Officer. "As a partner, it's our mission to try to improve the quality of life for the people who live, work and go to school in these communities. Whether it's providing financial support from the company or employees volunteering their time, we are dedicated to helping."
    Locally, Eaton contributed a total of $1.67 million to more than 100 organizations in the Cleveland area, including health and human services organizations, educational institutions and arts and cultural organizations. Some of the recipients of Eaton's Cleveland-area giving include:

    -- Cleveland Orchestra ($100,000 as part of a $650,000
    commitment)

    -- Playhouse Square ($60,000 as part of a $280,000 commitment),

    -- Cleveland Clinic ($100,000 as part of a $600,000 commitment)

    -- Case Western Reserve University Weatherhead School of
    Management ($50,000 as part of a $500,000 commitment)

    -- Great Lakes Science Center ($50,000 as part of a $250,000
    commitment)

    -- Free Clinic ($25,000 as part of a $100,000 commitment)

    -- Vocational Guidance Services ($34,670)

    Eaton also contributed generously on a national and North American basis. As a result of the generosity of employees, who donated $2.5 million dollars last year, the company gave nearly $1.4 million to 61 United Way organizations in the U.S., Canada and Puerto Rico where Eaton operations are located. In addition, Eaton donated electric load centers and circuit breakers for installation in over 200 Habitat for Humanity homes in Eaton communities around the nation and Canada, valued in excess of $60,000.
    Acting on its commitment to developing the technical skills and leadership talent of the next generation of employees, in 1999 Eaton continued its support of higher education. Case Western Reserve, Cornell, Dartmouth, Michigan State, Northwestern, Ohio State, Penn State, the University of Michigan and the University of Minnesota were among the schools receiving multi-year grants. In Cleveland, Eaton donated $15,000 to John Carroll University to support its "Opening Pathways to Teaching" program, which seeks to recruit minorities to teaching careers. Eaton also contributed nearly $66,000 to its Minority Engineering Scholars Program, totaling almost $340,000 since the program's inception and providing scholarships to more than 135 minority students. Eaton also gave $75,000 as part of a $300,000 commitment to Cleveland Tomorrow and the City of Cleveland school system, and collaborated with its partner school, Newton D. Baker Elementary School on Cleveland's west side, which is supported not only by financial contributions but volunteer service as well.
    In addition to helping others in 1999, Eaton also took major strides toward helping its own employees with the establishment of the Eaton Employee Disaster Relief Fund. The need for this fund became apparent when tornadoes in Oklahoma, hurricanes in Puerto Rico, and earthquakes in Taiwan devastated the homes and lives of Eaton employees. This fund provides a way for Eaton employees to help each other in times of personal crisis.