Matson Charitable Giving Increases 32% to $2.9 Million
Hawaii’s largest ocean cargo transportation company increased its charitable giving in 2016 despite earning less profit.
Honolulu-based Matson Inc. announced April 20 that it delivered $2.9 million in cash or donated goods and services to about 700 groups doing charitable work in communities the company serves. The $2 million in cash and $930,000 in services or equipment represented a 32% increase from $2.2 million given out by the Matson Foundation a year earlier.
Matson’s profit in 2016 was $80.5 million, down 22% from a record $103 million in 2015.
The company’s donations are spread over several places where Matson operates — including California, Washington, Alaska, Guam, Micronesia and the South Pacific — though most is directed at Hawaii.
“While the majority of Matson’s profits are earned outside of Hawaii, the largest share of our reinvestment in operations and our community is here in our islands,” Matt Cox, Matson CEO, said in a statement. “Improving the communities we serve is a core value at Matson, and our contributions are directed by local employees, who best know and are involved in their communities.”
Of the $2.9 million in contributions, $1.3 million went to 376 Hawaii organizations, including schools, sports groups and organizations benefiting the environment, health care, social services, arts, culture and other areas. One major gift was $100,000 that went to a Maui United Way fund benefiting displaced Hawaiian Commercial & Sugar Co. workers and their families.
HC&S, which shut down in 2016, is a subsidiary of Alexander & Baldwin Inc. A&B also previously operated Matson until spinning it off as an independent company in mid-2012. Since the separation, Matson Foundation charitable contributions have totaled almost $9 million.
