PepsiCo Foundation Donates $1 Million to Martin Luther King, Jr. National Memorial
FOR IMMEDIATE RELEASE
WASHINGTON, D.C. (May 24, 2006) The PepsiCo Foundation announced today it will make a $1 million contribution to help build a memorial to Martin Luther King, Jr. on the National Mall. Larry Thompson, PepsiCo Senior Vice President and President of the PepsiCo Foundation, U.S. Representative John Lewis, and several members of the Congressional Black Caucus will attend a reception at 6 p.m. at 101 Constitution Avenue, NW, Ninth Floor in Washington, D.C. for the contribution presentation. Groundbreaking on the Memorial is scheduled for late 2006, and construction is expected to be completed in 2008.
“PepsiCo is committed to supporting the work of Martin Luther King, Jr. and celebrating his heritage which underscores the critical importance of diversity and equal opportunity that is so important to all Americans,” said Larry Thompson, President of the PepsiCo Foundation. “We are proud to play a role in this important initiative that honors the ideals of hope, democracy, and freedom for which Dr. King stood.”
The $1 million contribution increases the Memorial’s fund-raising total to $59 million with a needed $100 million to complete the project.
“Thanks to the generosity of the PepsiCo Foundation, the Martin Luther King, Jr. National Memorial is one step closer to the November groundbreaking,” said Harry E. Johnson, Sr., President and CEO of the Washington, D.C. Martin Luther King, Jr. National Memorial. Project Foundation, Inc.
The PepsiCo Foundation will join the following major donors to the Memorial: General Motors, Tommy Hilfiger Corporate Foundation, NBA/WNBA, The Walt Disney Company Foundation, Toyota, Procter & Gamble, George Lucas, State Farm Insurance, AFLAC, Alpha Phi Alpha Fraternity, Fannie Mae, Wal-Mart, Sheila C. Johnson, MacFarlane Partners, The J. Willard and Alice S. Marriott Foundation, The Ford Motor Company Fund, The Horowitz Family Foundation, Federated Department Stores Foundation, Bell South, Bank of America Charitable Foundation, Delta Airlines Foundation, The Dyer Family Foundation, Black Entertainment Television (BET), Carlos Santana, Emerson, Fannie Mae Foundation and Chevy Chase Bank.
The Memorial Foundation’s leadership includes: Gary Cowger, George Foreman, Tommy Hilfiger, Vernon Jordan, Terry McAuliffe, J.W. Marriott, Jr., Richard Parsons, Colin Powell, Ken Mehlman, David Stern, Jack Valenti, J.C. Watts, and Ambassador Andrew Young.
About the Washington, D.C. Martin Luther King, Jr. National Memorial Project Foundation, Inc.
The Memorial honoring Dr. Martin Luther King Jr. will be built on the National Mall in Washington, D.C. The Memorial will be situated adjacent to the F.D.R. Memorial and in a direct line between the Lincoln and Jefferson Memorials. Congress passed Joint Resolutions in 1996 authorizing Alpha Phi Alpha Fraternity, Inc. to establish a Memorial honoring Dr. King to be built in Washington, D.C. Groundbreaking on the Memorial is scheduled for late 2006, and construction is expected to be completed in 2008.
PepsiCo is one of the world’s largest food and beverage companies, with 2005 annual revenues of more than $32 billion. Its principal businesses include Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. Its portfolio includes 17 brands that each generates $1 billion or more in annual retail sales.