Hilco Global (www.hilcoglobal.com) announced today that it will be donating thousands of new children’s toys and baby products to underprivileged kids throughout Chicago and Boston with an in-kind donation totaling $1,000,000 at retail. The donation is part of an ongoing company program called Hilco Helps, an annual community service commitment that Hilco Global conducts each year to support its corporate and employee commitment to various causes, often focused on children and education.
The Hilco Global large-scale toy donation will be distributed this summer in several ways. In Chicago, the toys will be distributed at branches of the Chicago Public Library as part of a promotion to encourage children in the city of Chicago to participate in its annual Rahm’s Readers Summer Learning Challenge. A special kickoff event is planned for July 12th at the Harold Washington Library to recognize the donation. The Summer Learning Challenge encourages Chicago’s kids to read 20 minutes a day and participate in STEAM (Science, Technology, Engineering, Art and Math) activities. Families can sign-up at their local branch and participate in the program through September 1, 2018. Visit chipublib.org/summer.
Additionally, Hilco Global has partnered with Cradles to Crayons (C2C) to distribute toys through C2C’s network of non-profit organizations to local kids living in poverty. C2C is an organization that provides children from birth through age 12 who live in homeless or low-income situations with the essential items they need to thrive—at home, at school, and at play.
Jeffrey B. Hecktman, Chairman and CEO of Hilco Global said, “We have been really impressed with the work that the City of Chicago and CPL have been doing through the Rahm’s Readers Summer Learning program to prevent the “summer slide”, where children can lose up to three months of math and science learning during summer months if they do not remain engaged in learning.” The CPL program, which was relaunched in 2012 to go beyond a traditional summer reading initiative has already shown quantifiable results.
Hecktman added, “We support proven programs that can demonstrate that they are effective, and this program works.” An analysis by Chapin Hall at the University of Chicago showed that children participating in the Library's Summer Learning Challenge demonstrated 15 percent greater reading gains and 20 percent greater math gains when compared to their peers who did not participate in the program. Hecktman added, “Hilco wanted to find a way to help encourage as many kids as possible to participate in this kind of a performance driven educational program. We believe the toys provide an added encouragement for kids to sign up and start reading this summer.”
“Through this generous donation Hilco Global has demonstrated their support for performance driven summer educational programs by providing an incentive to participate in Rahm’s Readers, not that learning isn’t already incentive enough,” said Mayor Rahm Emanuel. “Rahm’s Readers has proven to provide its participants demonstrable results, and I would like to thank both CPL and Hilco Global for their continued commitment to giving the children of Chicago a boost towards educational success.”
Research shows that having developmentally appropriate toys to play with is critical to a child’s learning and socio-emotional growth. Cradles to Crayons provides high-quality toy sets, along with mini libraries, clothing packs, hygiene items, school supplies and other items to more than 60,000 Chicagoland children living in poverty, homeless or crisis situations. As part of its partnership with Hilco Global, C2C will inspect all the toys and create age-appropriate toy sets for thousands of Chicago children. “We are really impressed with the work that Cradles to Crayons has been doing in cities like Chicago and Boston and look forward to working with them on many Hilco Helps programs we have planned in the coming year”, said Hecktman.
Hecktman indicated that another similar donation of toys and baby gear will be announced in the coming weeks in the City of Boston, an important hub for Hilco Global which has another large office with approximately 100 employees. “We’re working with the Mayor’s office in Boston and Cradles to Crayons there as well” Hecktman said.
Bernard Cherkasov, Executive Director of Cradles and Crayons said “We are thrilled to partner with Hilco Global and Chicago Public Library. Toys are not a nice-to-have, they are an essential need for a child’s learning and growth. Thanks to the Hilco Global toy donation, thousands of Chicago kids will have age-appropriate toys to call their own.” Mr. Cherkasov explained that through strong corporate partnerships with corporate America and their employees we can really deliver on the promise of helping children thrive by receiving the support they need at home, at school and at play. “It clearly helps us deliver on our mission of providing the essentials that every child needs to grow, learn, and thrive.” For more information about all of Cradles to Crayons’ programs, visit www.cradlestocrayons.org
“Rahm’s Readers Summer Learning Challenge continues to grow thanks in large part to our generous funders and partners,” said CPL Commissioner Brian Bannon. “The support from companies like Hilco Global and others through the Chicago Public Library Foundation allows us to provide kids at all 80 CPL branches throughout Chicago with the opportunity to have fun and keep their minds active over the summer.”
In 2017, Hilco Helps assisted in raising millions through in-kind donations, direct donations, and marketing/sponsorship) to support several organizations doing outstanding work. In addition to direct financial support, Hilco Global employees donated time to relief efforts in disaster zones, churches, schools, etc. across the country and provided internship opportunities to mentor and engage Chicago’s youth. This summer the company will again host several summer job
internships for high school seniors to students involved with Chicago’s Youth Guidance and All Stars Education/Arts programs. Hilco Global remains committed to its company-wide Hilco Helps initiative with a mission to improve the lives of those in need (often children) in communities that are under served and require assistance to maximize their full potential.
About Hilco Global: Hilco Global (www.hilcoglobal.com) is a privately held diversified financial services company and the world’s preeminent authority on maximizing the value of assets for both healthy and distressed companies. Hilco Global operates as a holding company comprised of over twenty specialized business units that work to help companies understand the value of their assets and then monetize that value. Hilco Global has a 30-year track record of acting as an advisor, agent, investor and/or principal in any transaction. Hilco Global works to deliver the best possible result by aligning interests with clients and providing them strategic insight, advice, and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has 600 professionals operating on five continents.