by Nate Wooley | November 14, 2012 2:58 pm
Citing the Boy Scouts of America’s position on gay issues, UPS (NYSE:UPS) has decided to stop providing funding to the organization.
The firm’s new policy on charitable contributions is to only give to organizations that maintain a non-discrimination policy similar to its own. While a UPS spokeswoman would not say that the Boy Scouts had been singled out, she did say “the youth organization is the only one UPS had given to in the past that would be affected,” the Atlanta Journal-Constitution reports.
While the Boy Scouts are not asking for money from UPS at the moment, leadership did say that the move would negatively impact local communities.
The organization has come under pressure from other big businesses over its stance. One large contributor, Intel (NASDAQ:INTC), ended support for Boy Scouts in September, and the CEOs of AT&T (NYSE:T) and Ernst & Young — both of whom are on the Boy Scout board — say they support ending the ban on gay members.
Source URL: http://investorplace.com/2012/11/ups-pulls-boy-scouts-funding-over-gay-ban/
Short URL: http://invstplc.com/1nzRxiN
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.