MILPITAS, Calif., March 23, 2020 /PRNewswire/ -- KLA Corporation (NASDAQ: KLAC) today announced the KLA Foundation is creating a $2 million fund to focus on global relief efforts benefiting nonprofit organizations in regions with the highest number of individuals affected by COVID-19, and locations with high-risk populations. The two-phase charitable funding initiative will provide support for food banks, elderly communities, public hospitals and medical units, and educational infrastructure. Phase 1 will target immediate relief for vulnerable communities, while phase 2 will focus on recovery and assistance. KLA has also increased the limit on corporate matching for employee contributions to $10,000 for non-profits in order to amplify individual employee efforts and empower and encourage donations to causes close to their hearts.
"The KLA Foundation has the vision and active framework to support the communities in which our employees live and work, and we are leveraging this capability to address the immediate concerns facing our global community during a time of unprecedented uncertainty," said Rick Wallace, KLA CEO. "By providing direct financial support to organizations on the front lines of the pandemic, we hope to help enable these groups to continue supporting vulnerable populations and meeting educational needs."
The company is moving forward with plans to support at-risk communities globally, targeting its efforts on the KLA Foundation's well-established pillars of focus: health and wellness, local and international community enrichment, and STEM education.
KLA leaders around the world are defining specific plans to direct the contributions in meaningful ways in their communities. Support in key areas will include:
- Food banks—resources to purchase canned goods, hire temporary workers and drive mobile food distribution
- Senior living communities—food packs, hygiene kits, protective equipment and medical supplies
- Public hospitals—personal protective equipment and other medical necessities
- Education—support for digital learning for public schools and/or schools with large concentrations of low-income students
Established in 2000, the KLA Foundation supports a range of charitable initiatives with funding and volunteer opportunities. With a goal of improving lives where KLA employees work and live through grants, matching gifts for employee contributions and volunteerism, the Foundation strives to make a positive and lasting difference in people's lives and encourage others to take action. For more information, visit www.kla.foundation.
KLA develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards and flat panel displays. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Additional information may be found at www.kla.com (KLAC-P).
View original content to download multimedia:http://www.prnewswire.com/news-releases/kla-foundation-creates-2-million-covid-19-global-relief-fund-301028356.html
SOURCE KLA Corporation
Investor Relations: Kevin Kessel, CFA, Vice President, Investor Relations, (408) 875-6627, firstname.lastname@example.org; Media Relations: Randi Polanich, Vice President & Chief Communications Officer, (408) 875-6633, email@example.com