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Wednesday, March 27, 2013
Wells Fargo and Stanley Black & Decker Kick-start the Phoenix ToolBank
By kevin.lynch @ 5:51 AM :: 4897 Views

 PHOENIX – 18 business and civic leaders from greater Phoenix joined with ToolBank USA for the first meeting of the board of directors of the Phoenix Community ToolBank. Both Wells Fargo and Stanley Black & Decker boosted the Phoenix ToolBank board with $20,000 gifts, representing 20% of the $200,000 needed to open the doors and begin lending tools to nonprofits.

The Phoenix ToolBank will facilitate bigger, more effective and less costly service projects by making its inventory of high-quality tools and equipment available for lending to nonprofits and their volunteers. Once fully stocked, the Phoenix ToolBank inventory will be worth nearly $500,000 with more than 140 types of tools on hand for community projects.
The ToolBank model empowers nonprofits, schools and churches to accomplish more, preserving limited resources and in the process becoming beloved civic fixtures. Board President Iain Hamp of Wells Fargo has been a forceful advocate for the Phoenix ToolBank for more than a year. “When I first witnessed ToolBank tools in action at a North Carolina service project, I knew this was exactly what we needed in greater Phoenix to escalate the impact of our nonprofits.”
ToolBanks currently lend tools in Atlanta, Baltimore, Charlotte, and Cincinnati, with Houston, Portland, OR, and Richmond, VA ToolBank in their early stages. According to ToolBank USA CEO Mark Brodbeck, “The Phoenix area has all the ingredients for the ToolBank to thrive. It will bring quick and reliable access to an abundance of high-quality tools to the organizations and volunteers who are revitalizing communities and transforming lives.”
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