Textron Inc. Named 2001 Outstanding Philanthropic Corporation

March 06, 2001

Providence, RI - March 06, 2001 - Textron Inc. has been named the 2001 Outstanding Philanthropic Corporation by the Association of Fundraising Professionals (AFP), the largest association of charitable fundraisers in the world. Textron will receive its award on March 13 during AFP's International Conference on Fundraising in San Diego, California.

Textron Inc., a $13 billion global multi-industry company with market-leading businesses in aircraft, automotive, industrial products, fastening systems and finance, won the award for its comprehensive approach to corporate philanthropy, supporting charitable initiatives in areas where it has offices, encouraging employees to get involved, making innovative use of its resources to support charities, and displaying philanthropic leadership for other corporations.

The primary focus of Textron's philanthropic endeavors has been the development of a diverse and highly-skilled workforce, primarily through the support of school-based programs and "welfare-to-work" initiatives. A prime example of this focus was the creation of the Cessna 21st Street Training Facility in Wichita, Kansas, a job training program targeted at Wichita residents who are considered "unemployable." Former President William Clinton visited the facility in 1997 and recognized the program in a subsequent speech as "the best corporate welfare-to-work program I have ever seen in America." Cessna Aircraft Company is a division of Textron Inc.

Perhaps Textron's most impressive philanthropic achievement is its commitment to the Textron Chamber of Commerce Academy in Providence, Rhode Island. The Academy is the state's first public charter school, providing at-risk students with the necessary knowledge and experience to be successful. Since 1986, Textron has invested $1 million in the school through multiple grants and pledges. In addition, many students are employed in after-school jobs at Textron's World Headquarters, enabling them to gain valuable real life work experience.

Textron provides philanthropic leadership in other areas too. The company founder, Royal Little, created a local legacy when he established the Rhode Island Charities Trust, which covers all administrative costs associated with the United Way of Southeastern New England. As a result, this United Way is one of only two United Ways in the U.S. able to designate 100 percent of donations directly to member agencies. Textron also encourages employees to contribute to charity through a matching gift program which provides a 2:1 match of employees' donations up to $7,500.

"The need for businesses and corporations to become more involved in the charitable process -- to be philanthropic partners and leaders -- has never been greater," said AFP President & CEO Paulette Maehara, CFRE. "Textron clearly embraces the philosophy that it has a responsibility to the communities that it serves. It has shown greater leadership in not only providing philanthropic support for a wide variety of projects, but encouraging others -- its employees as well as other corporations -- to become involved in these projects. The recognition for Textron as this year's Outstanding Philanthropic Corporation is duly deserved."

Since 1980, the AFP Awards for Philanthropy have been given annually to individuals and organizations whose contributions and dedication to philanthropy have made a significant impact upon society. The Outstanding Corporation award recognizes the corporation or corporate foundation that demonstrates extraordinary and innovative commitment to philanthropy through financial support and encouragement and motivation of others to take leadership roles in philanthropy.

Textron Inc. was nominated by the AFP Rhode Island Chapter, and will be honored at the AFP Awards Banquet on March 13 in San Diego, California as part of AFP's International Conference on Fundraising. AFP's International Conference attracts more than 4,000 professional fundraisers from around the world who work for a wide variety of nonprofit organizations.

The Association of Fundraising Professionals (AFP) represents nearly 25,000 members in 157 chapters throughout the United States, Canada, and Mexico, working to advance philanthropy through advocacy, research, education, and certification programs. The Association fosters development and growth of fundraising professionals and promotes high ethical standards in the fundraising profession. AFP was formerly the National Society of Fund Raising Executives (NSFRE).

Connect with Textron IR

Eric Salander, Vice President, Investor Relations
(401) 457-2288
Cameron Vollmuth, Manager,
Investor Relations (401) 457-2288

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