Goldman Sachs 2001 Annual Report Goldman Sachs

Letter to Shareholders Core Businesses Business Principles Sept 11 Response Financials Clients


September 11 Response
Goldman Sachs Relief Fund
Goldman Sachs takes very seriously its responsibility to the communities in which we work and we rely upon the values that underlie our Business Principles to help direct our response to community needs. Two days after the attack of September 11, 2001, we established the Goldman Sachs Relief Fund. In less than three months, over $11 million was contributed, with the firm matching more than $5 million given by employees. Within that same time frame, suggestions were collected from the people of Goldman Sachs and decisions were made to fund 28 organizations. Although we did not lose any of our people, 42 of our colleagues lost family members on that tragic Tuesday. Donations include the following:

Fund Allocation
Rescue Workers (including fire, police and Port Authority workers) $ 2,250,000
Goldman Sachs Families (loss of family members)   2,200,000
Education (scholarship funds for children of victims)   2,025,000
Small Businesses (financial and technical assistance to small businesses in lower Manhattan)   1,000,000
Community Organizations (nonprofits providing assistance or that were displaced)   875,000
New York City Infrastructure (Family Assistance Centers and other aid to families of victims)   750,000
Restaurant Workers (families of Windows on the World workers killed on September 11)   500,000
Memorial Contributions (Boston, MA, Washington, D.C. and Somerset County, PA)   500,000
Medical Facilities (two downtown New York City hospitals that responded on September 11)   300,000
Currently being allocated   763,644
Total $ 11,163,644

September 11 Outreach
In addition to our financial assistance, the Goldman Sachs family mobilized more than 600 volunteers to aid families and relief workers affected by the attack. We partnered with Safe Horizon, Community Food Bank of New Jersey, Food for Survival, Free Arts, the American Red Cross, the Mayor's Community Assistance Center, Women's Venture Fund and the United Way of New York City. A collection drive in our New York offices gathered over 3,200 supplies for the rescue workers who are working around the clock at Ground Zero.

We are also honored by the appointments of former Senior Partner John C. Whitehead to chair the Lower Manhattan Redevelopment Project, and our Vice Chairman Robert J. Hurst to lead the 9/11 United Services Group. We wish them much success with these efforts.

The people of Goldman Sachs around the world remain committed to assisting those in need through financial support, volunteer endeavors and partnerships with nonprofit organizations.



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