8.04.2005 ET

(CSRwire) WASHINGTON, D.C--(BUSINESS WIRE)--The UPS Foundation
(NYSE: UPS) and two leading U.S. companies are joining to launch formally a unique grant-making fund to help non-profit organizations manage volunteers more effectively.

In development for the past year, "IMPACT: A Fund for Change Through Volunteerism," will combine financial resources from The UPS Foundation, The Home Depot and Capital One Financial. Grants will be made to both national and local organizations to support projects aimed at improving the use of volunteers. Organizations will be encouraged to work together to address challenges in effective volunteer management that in the past they have tackled alone.

The IMPACT Fund was initially established with a $1 million, three-year grant from The UPS Foundation. Capital One and The Home Depot then joined, and the Fund now is recruiting additional local and national funders. The National Human Services Assembly (NHSA) is providing management and staff support for the Fund.

"The IMPACT Fund is a new approach for funders interested in working together," said Evern Cooper Epps, president of The UPS Foundation. "Rather than fund organizations to do the same things in isolation, IMPACT is a vehicle for funders and organizations to forge meaningful partnerships. We seek to advance the knowledge base of effective volunteer management in a way that will bring concrete benefits to communities."

In its initial phase, the IMPACT Fund is working with local funders in five states and plans to partner to fund several projects by early fall. Subsequent calls for proposals are expected for both national and local projects, based on the interest of the participating funders who will work together to award grants.

Volunteers are a key component to the success of many organizations but a resource that is not always well managed. In 2004, The UPS Foundation, the Corporation for National and Community Service and the USA Freedom Corps unveiled the results of the first-ever national study on volunteer management capacity, conducted by the Urban Institute.

According to the research, four in five charities were relying on volunteers but most were struggling with the task of managing volunteer resources effectively. That research, along with extensive input from stakeholders, produced a blueprint called From Research to Action.

"Making full use of volunteers holds the key to addressing a wide range of challenging social issues, from mentoring disadvantaged children to helping aging Americans remain independent in their own homes," said David Eisner, CEO of the Corporation for National and Community Service. "We greatly appreciate the efforts of UPS in establishing the IMPACT Fund and in finding ways to bridge the gaps in volunteer management systems identified by our earlier research."

Funders that are committed to addressing a variety of community needs also recognize the potential of the IMPACT Fund.

"Capital One is committed to providing opportunities for children and families in low income communities to reach their full potential.
We achieve results by deploying the company's financial and human resources in the community, including the skills and passion of our associates," agreed Carolyn Berkowitz, director of philanthropy and community relations for Capital One. "More than 60 percent of our associates volunteer each year and we understand the importance of utilizing volunteers effectively. The IMPACT Fund is an opportunity to strengthen communities by investing in organizations that will maximize the impact of volunteers."

About Capital One

Capital One demonstrates high standards as a corporate citizen by investing in communities to enhance the lives of those in need.
Headquartered in McLean, Virginia, Capital One Financial Corporation
(www.capitalone.com) is a bank holding company whose principal subsidiaries, Capital One Bank, Capital One, F.S.B. and Capital One Auto Finance, Inc. offer a variety of consumer lending products.

Capital One's subsidiaries collectively had 48.9 million accounts and
$83 billion in managed loans outstanding as of June 30, 2005. Capital One is a Fortune 500 company and, through its subsidiaries, is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 500 index.

About The Home Depot

Giving back is a fundamental value of The Home Depot(R) and a passion for its associates. Through an extensive community relations program, the company reaches out to the communities where its associates live and work with philanthropic and volunteer support.
Programs bring together volunteerism, do-it-yourself expertise, product donations and monetary grants to meet critical needs and build affordable and healthy communities.

About The UPS Foundation

Founded in 1951 and based in Atlanta, Ga., The UPS Foundation identifies specific areas where its support will clearly impact social issues. The UPS Foundation's major initiatives currently include programs that support increased global volunteerism, literacy and hunger relief. In 2004, The UPS Foundation donated more than $39.9 million to charitable organizations worldwide.

About the National Human Service Assembly

The National Human Services Assembly is an association of the nation's leading national nonprofits in the fields of health, human and community development and human services. Many of the member organizations are national offices of large networks of local health and human service organizations. Others are national research or resource organizations or national programs. The National Assembly is a learning community where leaders with parallel responsibilities at different national non-profit human service organizations (e.g., CEOs, HR directors) share knowledge and expertise about their work in this sector.

Copyright Business Wire 2005

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