T. Rowe Price is providing wide-ranging support to address the gaps in community services and within the health care system as a result of the COVID-19 pandemic. The firm is donating:
- $540,000 from the T. Rowe Price Foundation to nonprofits working to relieve the impact of the pandemic. The funds will be allocated to:
- Baltimore: $250,000 will be donated to the Fund for Educational Excellence to support food security issues for Baltimore City Public Schools students and their families who are without meals due to the closure of schools. Additionally, the Foundation will be directing $40,000 from its existing art portfolio to the Emergency Artists Relief Fund, which is being administered by the Baltimore Office of Promotion & the Arts and provides aid to artists, many of whom may not meet the requirements set forth by the CARES Act or state relief packages.
- Other T. Rowe Price U.S. locations: $125,000 will be split between nonprofits supporting COVID-19 relief efforts in Colorado Springs, New York City, and San Francisco.
- Other T. Rowe Price locations globally: $125,000 will be given to the Center for Disaster Philanthropy to support relief efforts in global communities.
- More than 160,000 N95 respirators were divided into donations to the following health care facilities:
- University of Maryland Medical System
- Johns Hopkins Hospital
- Greater Baltimore Medical Center
- LifeBridge Health
- UCHealth Memorial Hospital Central
- Centura Health
- Children’s Hospital Colorado Springs
To help ensure that the nonprofit sector remains strong during this challenging time, T. Rowe Price is also honoring all sponsorship commitments throughout greater Baltimore and other regions. One hundred percent of the funds the firm had allocated for fundraising efforts will now become direct donations to the nonprofits. T. Rowe Price Foundation is also working with existing grantees to determine if there is a need to expedite funding that had been slated for later this year.