West Marine kicks off the BlueFuture Fund
WATSONVILLE, Calif. – West Marine (Nasdaq:WMAR) today announced the launch of the West Marine BlueFuture Fund to benefit youth boating, marine conservation and healthy fish stocks.
The intent for the BlueFuture Fund is to provide ongoing support to causes central to West Marine’s mission. This donor advised fund is set up through Community Foundation Santa Cruz County and all donations are tax deductible. Associates, vendors and customers are encouraged to recommend non-profits who are deserving of grants.
To kick off the formation of the BlueFuture Fund, West Marine founder Randy Repass and CEO Matt Hyde are each making a lead donation. In addition, board members and the senior team are making contributions. On June 8, World Oceans Day, West Marine will donate 5 percent of sales (up to $70,000) to the BlueFuture Fund. Any interested parties can also contribute to the fund by going to www.cfscc.org/WestMarine.
“We’re excited about setting up a sustainable way to share our commitment to youth boating, marine conservation and sustainable fisheries,” says West Marine CEO Matt Hyde. “Part of West Marine’s mission is that we ‘work to conserve marine resources, reduce our impact on the environment and promote boating.’ The creation of the BlueFuture Fund aligns with that mission.”
The BlueFuture Fund is just part of West Marine’s ongoing support of sustainability and community boating. Other initiatives include:
- Reducing the company’s carbon footprint by 15 percent compared to a 2007 baseline;
- Creating and launching Pure Oceans, a green line of boat maintenance products;
- Hosting “Cruising for a Cause” charity nights to support local marine based non-profits; and
- Donating nearly $5.2 million to hundreds of non-profit organizations.
