Eight of the 10 members that were part of the donor consortium are tied to industries that have been especially hard hit by the economic crisis, including lending, housing, banking and automotive sales.
The group’s largest donor, Pacific BMW, has seen auto sales drop significantly as demand for high-priced goods has plummeted and the credit freeze has made lending difficult, said Nick Lam, vice president of the dealership.
Still, that did not keep his company from making a $250,000 cash contribution, in addition to giving up a BMW 328i as part of a fundraising raffle for PATH Achieve.
“All the corporate sponsors are in a difficult situation, but now, more than ever, it’s important for us to step up to the plate,” said Lam, who also serves as chairman for PATH Achieve Glendale’s Board of Directors.
Mayor John Drayman presented Lam and Pacific BMW President David Ho with a commendation Saturday on behalf of the City Council at the event.
While Pacific BMW’s donation was by far the largest, others in the donor group contributed $2,500 to $10,000, including Cal-Star Mercedes-Benz, Cathay Bank, East West Bank, Re/Max Elite, Alliance West Builders, Design Engineering, Glen Oaks Escrow and Glendale Adventist Medical Center — all businesses in industries that have, to varying degrees, seen substantial hits as the economy worsens.
Claire Orr — founder of Los Angeles-based PATH Partners, the parent organization of PATH Achieve Glendale — praised the donation as a crucial boost in paying down debt and covering the cost of homeless services that promote self-sufficiency, not handouts.
