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Tool Maker, Stanley Black & Decker Donates $1 Million in ToolBank USA to Aid Expansion Effort
March 18th, 2011 1 comment
Based in Atlanta, Georgia, ToolBank USA has announced on March 16, 2011, that it has just received $1 million investment from tool maker, Stanley Black & Decker for its nationwide expansion efforts. This is the largest investment ToolBank has received in its entire corporate history. The funding that Stanley Black & Decker invested into ToolBank is primed to be fully fulfilled within five years and the proceeds from the funding will go to allow ToolBank to expand its services throughout the US from coast to coast.
ToolBank USA is a not for profit organization that has a mission to providing a wide selection of tools that other not for profit, philanthropic, or charitable organizations can borrow for their projects. Many charities and philanthropic organizations, such as Habitat for Humanity, often have a shortage of tools available for volunteers to use in working on projects. ToolBank hopes to change that by providing locations throughout the US where volunteers can borrow and return tools as they need them. Loaning out tools, however, is not the only thing that ToolBank is committed to. ToolBank wants to provide not for profit and charitable organizations with the high quality name-brand tools that many of their volunteers, who are either in or have connections with the construction and landscaping industries are familiar with. Furthermore, the need for tools in the volunteer sector is very much unmet, since many landscaping and handyman enthusiasts might not necessarily have their own tools and skilled volunteers who have their own businesses are reluctant to lend their tools in fear that they might get lost or damaged due to improper use.
Charities and other philanthropic organizations can typically search ToolBank’s website for tools that are available and pick them up at their nearest location. Currently ToolBank has a depot in Baltimore, Maryland; Charlotte, North Carolina; and in Atlanta Georgia. Other locations are planned to be built throughout the US. Basically, ToolBank works by not only lending tools, but the tools are always kept under maintenance. This means that ToolBank’s staff are always busy maintaining tools, replacing blades of power saws, making sure that power sanders have fresh sandpaper in them and all tools are in tip-top condition for the next group of volunteers who are in need of them.
According to the Global Communications Director of Stanley Black & Decker, Tim Perra, what makes ToolBank USA so attractive to Stanley is that the people who have founded the organization are dedicated to make their communities a better place. The executive team at Stanley Black & Decker is also dedicated to this effort. The organization is run by a smart and enthusiastic management team who are dedicated to make this new idea of helping charitable organizations and their volunteers always have the tools needed available for any volunteer project. This in turn will also make the corporate name of Stanley Black & Decker in good standing within communities nationwide.
This donation, however, is not the beginning of the partnership between the toolmaker and ToolBank USA. According to the organization’s board president, Corky Martin, the organization has had a reliable partnership with Stanley Black & Decker ever since ToolBank was founded in 2008. The donation that Stanley has provided the organization will definitely help it realize its goals. Along with being the board president of ToolBank USA, Mr. Martin is also the Product Development Merchant at Home Depot, which is another benefactor of ToolBank.
Stanley Black & Decker is one of America’s largest tool makers. The company is currently being publicly traded on the S&P 500 and has a global presence. The tool maker has two product lines which have been household names in the United States for generations. Stanley, under which name many reliable hand tools, such as measuring tapes, drills, hammers, wrenches, and other tools are manufactured. The Stanley product line also has a collection of power tools also. The other product line that the tool maker carries is Black & Decker, which has been accredited to be one of the first vacuum and power drill manufacturers. Other brands that are carried under the Stanley Black & Decker corporate name include DeWalt, K2 Commercial Hardware, Porter Cable, National Hardware, Baldwin, and others.
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