PHOENIX — Tech Group Inc. of Scottsdale, Ariz., has established a $500,000 fund under the Arizona Community Foundation to support schools, social agencies and charities in communities where the company's employees live.
The injection molder set up Tech Group Foundation on July 1 and arranged for the nonprofit ACF to administer distributions.
``I am a firm believer in giving back to the community,'' Steve Uhlmann, Tech Group chairman, said in a news release.
Vice Chairman Hal Tashman said, ``Establishing a foundation has been a dream of mine for many years.''
Phoenix-based ACF administers more than 450 funds for donors making tax-deductible contributions, Deborah Whitehurst, ACF executive vice president for external affairs, said in a telephone interview. ACF manages assets totaling about $250 million.
Tech Group employs 1,550, operates 13 manufacturing sites in North America, Europe and Asia and has annual sales of about $175 million.
``We will work with Tech Group on exploring the mechanics in different countries'' to fund programs, Whitehurst said.
Tech Group employees will be able to recommend how the money is used and, separately, to participate in volunteer opportunities.