“Giving back” has been part of ITW’s values since our founding nearly 100 years ago. The ITW Foundation, the corporate charitable branch of ITW, continues to meet this commitment through both direct giving and a generous matching gift program. The opportunity for thousands of employees to participate in this program, along with the foundation’s national presence, gives our social commitment a far-reaching and locally relevant impact.

In 2010, the ITW Foundation contributed $17.7 million to various human service, educational, youth, and environmental organizations in the U.S. and Canada.

Historic United Way campaign surpasses $10 million

The United Way is ITW’s preferred charity, and one of our most significant partnerships. Each year, ITW manages a United Way campaign across the United States and Canada, with the ITW Foundation matching employee and retiree donations. In 2010, for the first time in our history, we surpassed the $10 million mark by raising a combined total of $10.4 million. These funds will be leveraged in more than 530 United Way local markets. A total of 550 business units in the U.S. and Canada participated, with many of them reaching over 90 percent participation.

Over $800,000 in scholarships for ITW employees’ children and dependents

In 2010, ITW provided $839,000 in scholarships for the children and eligible dependents of ITW employees. This amount reflects a six percent increase over 2009. The scholarships are managed by Scholarship America, with 237 students receiving scholarships. Through the National Merit Scholarship program, ITW awarded scholarships to an additional 121 students.

Three-for-one Matching Gift Program extends local philanthropy

In addition to many direct giving programs, the ITW Foundation will match up to $5,000 of a donor’s contribution, multiplied by three, to benefit U.S. and Canadian organizations. That means that our employees and retirees have a pool of up to $15,000 they can leverage for the qualifying organization of their choice. The Matching Gift program is a highly effective way to increase the impact and services of specific, local charitable organizations, while supporting our employee’s own philanthropic passions—what they determine is best according to their own interests and community needs. This year the program contributed $7.6 million to a diverse group of local organizations, an increase of nearly 34 percent over 2009.

Junior Achievement touches thousands of students in 2010

The ITW Foundation has been a long-time supporter of Junior Achievement, which provides volunteer-run extracurricular financial education to nurture an understanding of free enterprise while building leadership and the entrepreneurial spirit in young people. In 2010, we supported nine chapters across the U.S. A few groups deserve special mention for their accomplishments:

• Miller Electric in Wisconsin provided 81 volunteers trained in the Junior Achievement curriculum, which reached approximately 2900 local students. Miller remains the second largest provider of employee volunteer support in the region.
• ITW’s annual Bowl-a-Thon raised over $800,000 for the Chicago Chapter—a record for ITW and Junior Achievement. The ITW corporate office and several of our Chicago-area businesses also provided 154 trained Junior Achievement volunteers that reached approximately 5,400 local students.

27 capital campaigns move forward

In 2010, ITW continued to support 27 ongoing capital campaigns—“bricks and mortar” funding—for hospitals, museums, schools, community centers and more where our employees work and live. Examples include a new emergency room for a medical center in Appleton, Wisconsin; private chemotherapy rooms for the Scott & White Memorial Hospital in Temple, Texas; construction and renovation projects for the Adler Planetarium in Chicago, Illinois; upgrades for the Miami County Dental Clinic in Troy, Ohio and many more. These capital campaign commitments promise a set amount to be paid out over five years. In 2010, ITW made annual payments totaling $2.8 million, all in communities with a significant concentration of ITW people.

New pledges and grants approved

• ITW invested several million dollars in local organizations that enhance education, culture, community support, and health and human services. These contributions take the form of pledges and grants that are paid out annually. ITW is proud to support our community with pledge commitments aligned to Capital Campaign projects and with grants for use of general operating expenses.
• A major ITW pledge for the renovation of the laboratories at the University of Illinois at Chicago was completed in 2010. Our donation for the renovations totaled $1.1 million. (See profile on Diversity and Inclusion page.)

Recognition for senior-level philanthropic leadership

Social commitment is an important part of our corporate culture—and it starts at the top. David Speer, Chairman & CEO, has been publicly recognized numerous times for his strong philanthropic leadership and generous support of cultural, educational and social service organizations. This year, the Midtown Educational Foundation and the Chicago Youth Centers honored Mr. Speer. He was also asked to chair the American Cancer Society’s Discovery Ball and the American Red Cross Heroes Breakfast—events that will take place in 2011.

Seniors Outreach Group

Seniors Outreach is an active group of ITW retirees, both men and women, who support charitable agencies through volunteerism as well as financial contributions. In 2010, the Seniors Outreach group provided more than 372 hours of community service in addition to their financial contributions. The group also hosts an annual meeting for retired ITW women and men. This year, retirees visited the corporate office to hear Chairman & CEO David Speer, the keynote speaker, speak about the company’s business performance. Mr. Speer also conducted an in-depth question and answer session with the attendees.