Vanguard Crew Takes the Bite Out of the Recession

--(BUSINESS WIRE)--Vanguard:

WHAT:				Vanguard employees will load 485,000 cans of donated food, as well as personal-care and pet food items, onto trucks for distribution to local families in need as part of the company’s 13th annual “All Cans on Deck” drive. Representatives from local nonprofit organizations, including Philabundance, Chester County Food Bank, the Salvation Army, and the Community Action Development Commission of Montgomery County (CADCOM) will be on hand to accept the donations.
WHERE:				Vanguard (warehouse facility)
				400 Devon Park Drive
				Wayne, PA 19087
WHEN:				Thursday, July 16, 2009
				Best Photo Time: 12:30-1:30 p.m., as trucks are loaded
DETAILS:				The mid-year food drive was one of Vanguard’s most successful, with 722,746 food and personal-care items donated by employees across Vanguard's three U.S. locations in Pennsylvania, North Carolina, and Arizona. In total, Vanguard employees have donated 4 million items to their local communities since the annual drive began in 1997.

The tough economic climate made this year’s drive critical. Philabundance, the region’s largest hunger relief organization, has seen a near 25% increase in need for emergency food since last year, citing increasing unemployment and underemployment, the rising cost of food, mortgage/rent and fuel costs, and inadequacy of food stamp benefits as key contributors. (Feeding America Local Impact Survey, December 2008.)

Vanguard’s “All Cans on Deck” program benefits food banks and agencies that assist children and families, including Philabundance (Greater Philadelphia Food Bank), Chester County Food Bank (West Chester), Cluster Outreach Center (Pottstown), the Salvation Army (Upper Darby), and CADCOM (Norristown). These groups have an especially critical need for donations during the summer months when school-based nutrition programs are on hiatus.

About Vanguard

Vanguard, headquartered in Valley Forge, Pennsylvania, is Chester County’s largest employer, with more than 9,000 employees in the Delaware Valley and 12,000 nationwide. Vanguard is one of the world’s largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages more than $1.1 trillion in U.S. mutual fund assets, including nearly $490 billion in retirement assets. Vanguard offers more than 150 funds to U.S. investors and more than 50 additional funds in non-U.S. markets.