The Rate Foundation Announces $3 Million Giving Milestone
Chicago, Ill., — July 10, 2019 – The Rate Foundation, created in 2012 to positively impact lives in times of need, has announced a new giveback milestone of more than $3 million donated to individuals across the United States. The foundation has helped more than 300 individuals who have experienced unforeseen hardships. The Foundation is on pace to grant over $1 million in 2019, a 68 percent increase from 2018.
“We started the Foundation seven years ago with the focus of making a meaningful difference in someone’s life who is in desperate need of help. Today, we feel blessed to have provided over $3 million of support for individuals in need,” said Rate Founder and CEO Victor Ciardelli.
With 100 percent of overhead expenses covered by Rate, every penny donated to the Foundation goes directly to someone in desperate need of help. According to reports, giving directly to individuals accounted for just two percent of overall giving in the United States. The average Rate Foundation recipient receives $20,428 in forms of grants for rent, car payments, groceries or additional assistance.
The Rate Foundation receives money through employee donations, sponsors and several events held throughout the year, including the annual Speakeasy Soiree held each May and a Home Run Derby held at Rate Field in August.
To learn more about the Rate Foundation or to apply for assistance, visit Gr-foundation.org
About Rate Companies
The Rate Companies, which includes Rate Inc., and Guaranteed Rate Affinity, LLC, has over 5,000 employees in a total of 700 offices across the U.S and will fund $36 billion in 2019. Headquartered in Chicago, Rate Inc. is one of the largest retail mortgage lenders in the United States. Founded in 2000 and licensed in all 50 states and Washington, D.C., it has helped homeowners nationwide with home purchase loans and refinances. The company has established itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. 2017 marked the launch of Guaranteed Rate Affinity, LLC, a mortgage origination joint venture between Rate, Inc. and Realogy Holdings Corp. (NYSE: RLGY), a global leader in residential real estate franchising and brokerage. Collectively, the companies have earned honors and awards including: "Top Lender for Online Service" for 2018 by U.S. News & World Report; No. 3 ranking in Scotsman Guide's Top Retail Mortgage Lenders 2018; Chicago Tribune's Top Workplaces list for seven consecutive years; and Best Online Lender and Best Lender for FHA Streamline Refinance by NerdWallet in 2019. Visit rate.com for more information.
About the Rate Foundation
The Rate Foundation is a 501(c)(3) public charity that provides hope and relief to those in need through tailored financial support. Founded in 2012, the Rate Foundation has granted more than $3.4 million to over 1,300 individuals. Funds are provided to help recipients who have been affected by domestic violence, homelessness, medical emergencies, natural disasters and the unexpected loss of loved ones. With 100 percent of overhead expenses covered by Rate, every penny donated to the Foundation goes directly to someone in desperate need of help. For more information, visit: Gr-foundation.org