Bosch Celebrates 125th Anniversary With New Foundation, Grant Money

Beginning in January, Bosch is offering up $3 million in grants each year as part of the Bosch Community Fund, a new foundation created as part of its 125th anniversary activities.

"Based on the convictions of our company founder, Bosch's commitment to social responsibility has been long held. We now expand our philanthropic efforts in the U.S. through the Bosch Community Fund," Robert Bosch LLC CEO Peter Marks said. "We strongly believe in the importance of investing in the future of our communities. Far more than monetary support, the fund allows us to further promote science, technology, and environmental causes and actively illustrate the value we place on sustainability."

Bosch Group manufactures and markets automotive original and aftermarket parts, industrial drives and control technology, power tolls, communication systems, security and more. It has more than 22,000 employees in more than 100 locations, with sales of more than $8 billion.

Bosch unveiled the foundation at the recent U.S. Department of Energy Solar Decathlon. The foundation is part of Bosch's tradition of social responsibility and public spirit and will fund programs in the various communities where Bosch has operations including educational, environmental and charitable causes.

Bosh will self-fund the foundation with a regional board selecting the various projects and charities to support. The Bosch Community Fund will me made up of site-based philanthropy, corporate initiatives and strategic reserve, according to a press release.

One half of the total assets will be used for site-based philanthropy with a focus on education and environmentalism, such as teaching students about renewable energy. It will expand the company's support of organizations, such as United Way and FIRST Robotics. The final portion of the foundation money will go to a reserve in case of disaster relief for communities within the Bosch framework.

"At Bosch, doing business responsibly has many facets. Our definition includes economic, social and ecological factors," said Maximiliane Straub, chief financial officer and executive vice president, Controlling, Finance and Administration, Robert Bosch LLC. "We have an obligation to future generations, and enhancing our corporate social responsibility efforts with the BCF will allow us to pursue this goal more aggressively."

The Bosch Community Fund is only one small part of Bosch's multifaceted approach to corporate social responsibility. It has similar programs in place in other countries, such as Brazil, India and China, as well as funding the Bosch Energy Research Network for $10 million over the next eight years.