Supporting Local Communities
We are passionate about being part of the communities we are privileged to serve. It's a way of engaging, developing ourselves as individuals, understanding the needs of others and also, having fun. Serious play in our communities takes many different forms at Caesars Entertainment.
Caesars Foundation is a private foundation funded by a portion of operating income from resorts owned or operated by Caesars Entertainment. The Foundation is the entity through which Caesars funds charitable programs and projects of $10,000 or more, and meets non-profit giving requirements in certain operating jurisdictions. The Foundation's objective is to strengthen organizations and programs in the communities where our employees and their families live and work, and to include our employees in volunteer efforts associated with the causes we support. We maintain our Caesars Foundation commitment each year, even in years where our business results do not meet our objectives.
Since its inception, Caesars Foundation has gifted more than $66 million to support our communities. In 2013, we added a fourth focus area to support educational innovations to align with our work over the years supporting various scholarships and some of our more significant partnerships such as Teach for America, The Public Education Foundation and United Negro College Fund (UNCF). In 2013, we granted $3.6 million to our community partners including Opportunity Village, Second Wind Dreams, Meals on Wheels Association of America, Clean the World Foundation and National Park Trust. Caesars Foundation also approved a multi-year gift to the National Center for Responsible Gaming to help support the NCRG's mission to fund research that helps increase understanding of pathological gambling, and helps find effective methods of prevention and treatment for the disorder.
Caesars employee volunteers, HEROs, have a passion for serious play and we encourage them to get involved and support our local communities. In 2013, our HERO volunteers contributed over 164,000 hours in more than 600 volunteering events to support a wide range of social and environmental causes. That's equivalent to more than 80 full time employees volunteering for an entire year! Many of the programs we support are aligned with those that receive funding from Caesars Foundation. The number, scale and diversity of our community outreach events in any given year is inspiring. Each property uses its commitment, creativity and understanding of local needs to develop its own program.
Using Our Voice for Advocacy
As a business with a keen passion to help create an equitable and just society, we speak up on issues we feel strongly about. We offer our expertise and knowledge to state jurisdictions in the U.S. when they wish to consult, and we are involved in industry associations that amplify our voice as part of a collective effort to support positive public policy decisions. Our President and CEO, Gary Loveman, participates in the Business Roundtable (BRT), an association of chief executive officers of leading U.S. companies, which works to help expand economic opportunity for all Americans. In particular, during the past year, we have been active in our support for the Employment Non-Discrimination Act (ENDA) and active in our fight to overturn the Defense of Marriage Act (DOMA).
2013 Corporate Citizenship Highlights
Revitalizing Cities, Driving Tourism and Boosting Local Economies
Wherever we are, we help create vibrant communities. As a large casino entertainment corporation, we play an integral part in city and community life. This means getting to know local leaders and communities, understanding economic and social aspirations, and helping drive sustainable prosperity in partnership with those we are privileged to serve. We enjoy our play, and we are also serious about making a positive contribution.
Part of the vitality we bring to cities and communities is the creation of economic value that benefits our stakeholders. Of the direct economic value we created in 2013, more than 71% was distributed among our employees and our vendors — the people who help run our business. A further 17% was paid to the cities and communities we serve in the form of taxes to support local infrastructure, education and healthcare, and through our community investments that benefit those we serve. As a gaming corporation, the taxes we pay are some of the highest across all industries in the U.S., and our monetized social contribution is more than two times higher than the average of U.S. corporations, as demonstrated in a whitepaper assessing our social impact, published in 2012.
We are serious about being part of communities. It's simply who we are. Beyond our direct economic contribution, we encourage diversity, engage with local leaders, take part in community life, attract tourism and build partnerships with other entertainment and hospitality providers wherever we are.