Cayman Finance donates $113,000 to R3 Foundation

The ‘Cayman Finance Cares’ programme has donated $113,000 to the Cayman Food Bank through the R3 Cayman Foundation, to support ongoing relief and recovery efforts.

The donation, funded through Cayman Finance member firms, will support Cayman Food Bank’s food, utility and rent relief programmes which aim to alleviate the economic effects of the ongoing COVID-19 pandemic, according to a press release.

By donating the funds through R3, the amount will be matched by the Kenneth B. Dart Foundation for an additional $113,000 that the readiness, relief and recovery committees will distribute to impactful organisations and projects in the community, said R3 chairman Bryan Hunter.

Cayman Finance chief executive officer Jude Scott said his organisation “is incredibly grateful for its member firms who donated to the Cayman Finance Cares initiative in support of helping Cayman Food Bank to assist families in need during the crisis”.

Naomi Law of Cayman Food Bank said the donation will help the charitable organisation expand its relief services in the community beyond food assistance.

“We are very grateful for the generous donations from both Cayman Finance and R3. The Cayman Food Bank has been working tirelessly to help those in need in our communities from before COVID hit. Since COVID has impacted our communities on island, we are seeing a large increase in the needs presented,” she said.

“As a result we have committed to set aside a portion of these funds received and have earmarked them specifically to help those in need in our community with additional needs over just food, although we will maintain our current support to the community with food assistance as well.”

The charity’s board will evaluate requests for additional temporary support on a case-by-case basis, until the funds are exhausted.

R3 relief chairman Woody Foster said the foundation continues to invest in strong working relationships with its non-profit partners to better understand the effects of the COVID-19 pandemic on the local community.

“Early on in the pandemic, the need for food relief was very apparent but now, as more unemployed workers have left the country a different picture is emerging,” he said. “We understand the current economic conditions have exacerbated challenges for families and individuals who were already struggling before the borders closed and one of our main priorities now is supporting charities providing utility relief.

“Beyond the economic effects, we are also developing a better understanding of the long-term impacts of COVID-19 in terms of mental health, domestic violence, and education in our community.”

R3 is accepting grant applications from local non-profit organisations, or organisations exempted from non-profit status under current legislation. Eligible organisations with projects related to readiness, relief or recovery, should apply for funding using a short application available on the R3 website.

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