PETER E. HAAS JR.
JENNY CALVERT RODRIGUEZ
The Red Tab Foundation
is a public, nonprofit foundation that assists LS&Co. employees, retirees and their families who face problems caused by unexpected financial emergencies. RTF provides financial assistance, education and preventative programs to help these individuals in their own efforts to maintain their financial, physical and emotional health.
Friends and colleagues,
Given the current impacts of the COVID-19 pandemic, last year can feel like many lifetimes ago. Most of us now know at least one person whose health or job has been affected and is threatened by losing access to food, shelter or healthcare.
This includes many LS&Co. employees and retirees who have or are turning to the
Red Tab Foundation (RTF) for support. In the midst of a situation that changes daily, when things may get worse before they get better, we wanted to take the time to look back at our recent accomplishments.
2019 was a record year for Red Tab Foundation. We had greater visibility across the LS&Co. community and more support than ever before. As a result, the stakes were higher to deliver on our mission — and we’re happy to report that we’ve exceeded all of our major targets.
While RTF has been providing support to LS&Co. employees and retirees for nearly four decades, the field of employee hardship funds is more prolific than ever, and we’ve embraced our role as a thought leader for the industry. Last year’s study by the Aspen Institute recognized RTF as a best-in-class organization and identified hardship funds as a critical tool to help fight financial insecurity.
We often hear about the big stories like medical emergencies or natural disasters, but RTF also assists those who have fallen behind on rent or need help with car repairs. Every day, the foundation helps alleviate worry and provides critical aid to those suffering through financial stress. Accordingly, we’re working to ensure that we deliver on our commitment to fostering physical, emotional and financial well-being in our clients more effectively than ever.
As one of the oldest funds, we have years of experience to draw on - but it’s our duty to clients to keep innovating to ensure that we deliver maximum impact.
We’re putting in the work today, so RTF can be a safety net for our LS&Co. family over the next four decades and beyond.
Thanks to all for the generous support.
Broaden Our Impact: We distributed more than 1000 individual grants, giving out an additional 7% to our employees in need.
Deepen Our Support Base: FY19 was our fifth straight year
of double-digit fundraising growth. We raised $1.8M, exceeding our target of $1.35M by 36%.
Find Operational Efficiencies: We achieved an 85/15 program expense ratio, all while processing more grants
and raising more funds than the previous year.
PROVIDING A CRITICAL SAFETY NET
RTF’s hardship assistance program brings the LS&Co. value of empathy to life in a very tangible way. The daily outcomes
of this program are a bill paid, a home restored, a pair of eyeglasses purchased. But the impact of those grants is
far greater. For more than 900 individuals who faced
a seemingly insurmountable financial emergency, RTF
brought hope, relief, and a feeling that their colleagues have their back. This year, to ensure we’re driving the greatest impact for our community, we embraced testing new approaches to emergency assistance by launching a proof of concept to more efficiently get our employees the funds they need, when they need them most.
BUILDING CAPACITY FOR FINANCIAL HEALTH
A key component of financial health, access to short-term savings allows individuals to weather inevitable financial shocks and think ahead for the long term. But for the more than 25% of the U.S. population across all income brackets that is living paycheck to paycheck, that savings doesn’t exist.
Our Red Tab Savers program is helping those individuals kickstart their savings by offering a $1 for $1 match. After six months, Savers have up to $500 of their own resources to access in case of an unexpected hardship. More importantly they’ve built a habit of savings: 95% of those who successfully completed the program continue to save month over month even after the program is over.
DID YOU KNOW?
In 2019, more than 65% of RTF assistance went to our retired manufacturing employees. We help with things like dentures, hearing aids and home repairs to make sure the individuals who made our iconic product have the assistance they need. It's our mission to make sure no one in our LS&Co. family falls on hard times.
HAVE YOU HEARD?
47% of Americans don’t have $400 to fall back
on in case of an emergency. That’s why we created the RT Savers program, which offers a $ for $1 match and teaches employees
how to save and gain confidence in their finances. Over 90% of
our employees who finished the program continued to save
after the six month match period was complete.
THANK YOU TO OUR DONORS
GOLDEN HANDSHAKE ($50,000 - $200,000)
Levi Strauss Foundation
Ginnie and Peter Haas, Jr.
Mimi and Peter Haas, Sr. Fund
BIG E ($20,000 – $49,999)
Colleen and Bob Haas
Evelyn & Walter Haas Jr. Fund
FORTY-NINER ($10,000 – $19,999)
Julie and Wally Haas
New York Stock Exchange
Roy W. Eaton
Sissy and Ted Geballe
SADDLEMAN ($5,000 – $9,999)
Betsy and Roy Eisenhardt
Nicholas Meyer Haas
Tully and Elise Friedman
TWO-HORSE ($2,500 – $4,999)
Haas Family Runners
Kira and Bradley Haas
Mary Jane Luck
BATWING ($1,000 - $2,499)
Hubert Van Nuvel
John De Martino Jr
John De Shano
Karthikeya Neelakanta Sarma
Leah Isla Dela Cruz
Maria Tanya Estrella Gomez
Nate Eubanks Jr