Freddie Mac Tops the List as a Corporate Philanthropist

May 5, 2004 — Freddie Mac ranked first among Washington, DC area corporations in its contributions to the community, according to the Washington Business Journal. Overall, Freddie Mac's philanthropic giving—which included Freddie Mac and Freddie Mac Foundation contributions—totaled $49.8 million in 2003. Of this, nearly $39.5 million went to make a difference in the Washington, DC region.

The Washington Business Journal released its annual ranking of the largest corporate philanthropists in the Washington, DC metropolitan area during the Seventh Annual Greater Washington Business Philanthropy Summit, which is organized by Greater DC Cares and the Washington Business Journal and sponsored by Freddie Mac and other leading local companies. The summit is the region's premier forum for recognizing and supporting corporate philanthropy in the local business community. The ranking appears this week in the Washington Business Journal's Greater Washington Business Philanthropy Guide.

"We are honored to be recognized for our commitment to the greater Washington, DC region," said Maxine B. Baker, vice president, Community Relations, and president and CEO, Freddie Mac Foundation. "Through our philanthropy, we work to strengthen families and communities, primarily in our hometown—but nationally as well. We will continue to be a leader in supporting non-profits that improve the lives of children and families in our community who are most in need."

The past year was significant for Freddie Mac's philanthropic program. The company started a signature initiative called Hoops for the Homeless, a celebrity basketball tournament that raises funds to help reduce homelessness among families in the Washington, DC region. The company also created a Donor Assisted Fund through the Community Foundation of the National Capital Region to further make a difference in the community. In addition, the Freddie Mac Foundation invested $2 million in the region through its Helping Hand Emergency Fund, which was established to help non-profits experiencing a shortage of funds due to the economic downturn. The company and Foundation also contributed $1 million to keep the Boys and Girls Clubs of Greater Washington from closing its doors.

In all, Freddie Mac has invested more than $217 million around the metropolitan region and the nation over the past 14 years. Through its corporate giving, Freddie Mac strengthens communities by supporting housing and local charitable initiatives, and through the Freddie Mac Foundation, it works to strengthen families by preventing child abuse, finding homes for foster children, and developing youth.