Of the $3.7 million distributed in 2008, REI made 350 grants to local nonprofit organizations through our market-based grants program. Grant recipients are nominated by our employees who are currently engaged with local nonprofit organizations in their communities. An additional 65 grants were made to organizations working at the regional and national level. All recipients share a commitment to conservation and recreation.
We pay particular attention to opportunities that involve youth. Connecting young people with the outdoors is key to starting them on a path of an active lifestyle, while ensuring future generations become stewards of the environment. After all, it is today's youth that will become tomorrow's decision makers regarding how best to protect our country's natural spaces. Supporting and partnering with nonprofits that focus on positive outdoor experiences for youth helps the co-op make a positive difference in the lives of youth throughout the country.
We are proud that our many national and local nonprofit partners share the values of safe and responsible recreation. REI's retail stores also support recreation clubs and conservation nonprofits by donating meeting and event space. To help these organizations increase local visibility, we encourage them to post volunteer opportunities and event announcements on our store Outdoor Resource Center bulletin boards and store event calendars on our website.
To learn more about the organizations supported through our grants program, visit this link for a complete list.
The annual budget for REI's grants program is determined by the co-op's financial success, or approximately 3 percent of the previous year's operating profits. The co-op was not immune to 2008's challenging economy and as a result we experienced a significant decrease in income. Our support of nonprofit partners to get more people outdoors will be at a reduced level in 2009, because of reduced operating profits in 2008.
While fewer available grant dollars will present a challenge to maintain the assistance we have provided in the past, it is also an opportunity to become more focused. Ultimately, this means targeting our giving in ways that have the greatest impact on promoting conservation and recreation.
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