KNOXVILLE, Tenn. ― The Tennessee Valley Authority and Memphis Light, Gas and Water will partner with Memphis-area nonprofit organizations to donate $400,000 in support of initiatives that address hardships created by the COVID-19 pandemic.
The MLGW board voted last Thursday to provide $200,000 to be matched by an additional $200,000 from TVA’s COVID-19 Community Care Fund.
Four charitable organizations were selected as beneficiaries of these matching funds. The Plus-1 program of the Metropolitan Inter-Faith Association will receive $150,000 to provide utility bill assistance for individuals and families in financial crisis. The Mid-South Food Bank will also receive $150,000 to provide nutritious food to families, children and seniors in need. The United Way of the Mid-South will receive $50,000 for its COVID-19 Economic Relief Fund, which funds community-based organizations providing essential services and critical support. The Community Foundation of Greater Memphis will receive $50,000 for its Mid-South COVID-19 Regional Response Fund, which provides flexible funding to organizations serving people impacted by the pandemic.
"We are focused on making sure that our customers have the support and resources that they need during this pandemic," said J.T. Young, MLGW president and CEO. “We understand that there is a great need in our community. MLGW is thankful that we can collaborate with TVA, MIFA, United Way, the Community Foundation and the Mid-South Food Bank to address the community impact of COVID-19.”
TVA’s COVID-19 Community Care Fund was established in April to provide a total of $2 million in matching funds across its service territory to help amplify vital work being done by nonprofit organizations to support families and businesses affected by pandemic conditions.
“TVA is committed to Memphis and to addressing critical needs in the community,” said Jeff Lyash, TVA president and CEO. “While we are focused on the long-term success of the Memphis community, we recognize there are immediate needs that we can partner with MLGW to address together.”
The COVID-19 Community Care Fund is part of a broader effort by TVA and local power companies to support communities with resources, programs and assistance and reinforce the strength of public power in the Tennessee Valley.
This March, TVA announced a credit support program that provides up to $1 billion in support to local power companies. The program provides financial stability and assistance to local power companies in their efforts to support their customers through these challenging financial conditions. TVA is also working to identify additional potential funding from federal, state, and local government stimulus programs to help mitigate the impacts of COVID-19 in the Valley.
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power companies serving nearly 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system, and assists local power companies and state and local governments with economic development and job creation.