Supply chain solutions provider Z5 Inventory has pledged to donate $5000 for each $5 Million it helps partner hospitals save in 2020. The first recipient in the 50 For 50 program is Miracle Foundation, a charity that supports orphaned and vulnerable children.
AUSTIN, Texas, Feb. 25, 2020 /PRNewswire/ -- Z5 Inventory, a national leader in identifying and reallocating excess medical supplies, today announced its latest charitable program, 50 For 50. As a celebration of its fifth year in operation, Z5 is challenging its hospital partners across the United States to save $50 Million of medical supplies from expiration in 2020. For each $5 Million saved, Z5 Inventory will donate $5000 to a charitable organization.
January 2020 concluded with a customer savings of $5.8 Million, prompting the first donation. Its recipient was Miracle Foundation, a nonprofit empowering orphans and vulnerable children to reach their full potential.
"We are so honored to be the winning recipient of the 50 For 50 campaign!" said Leslie Beasley, CEO of Miracle Foundation. "Partners like Z5, with their generous support, are what enable Miracle Foundation to make a difference in so many children's lives."
"Helping others has been a crucial part of Z5's mission from the beginning," said Carl Natenstedt, CEO and cofounder of Z5 Inventory. "And everyone on the 50 For 50 team was so excited that we could support Miracle Foundation's mission with the first of many such donations."
Miracle Foundation, currently offering support to more than 15,000 children in India and across the world, was chosen as the first recipient from charities submitted by Z5 Inventory staff, but with the announcement of the 50 For 50 program comes a call for submissions.
Individuals, particularly those from participating client hospitals, are encouraged to submit charities close to their hearts for consideration. The 50 For 50 team will then draw from the available pool of 501(c)(3) candidates at each $5 Million savings milestone.
Savings are calculated through Z5 Reallocate, a proprietary solution to prevent excess medical and surgical supplies expiring and becoming waste. Partner hospitals are able to avoid this expense by moving supplies between facilities, selling supplies to other systems, and donating supplies to charities providing care to in-need communities worldwide.
Z5's largest donation of medical supplies benefited children affected by HIV/AIDS in Uganda, one of the countries where Miracle Foundation has provided resources and advocacy for children.
"Our passions for service are so perfectly aligned," Mr. Natenstedt said. "Donating to Miracle Foundation was an obvious fit for us. And I hope that's the case for many, many other businesses and individuals, as well."
To donate or volunteer with Miracle Foundation, visit MiracleFoundation.org/get-involved.
To submit a charity as a possible recipient of a 50 For 50 donation, or to find out more about Z5 Inventory and the Z5 Reallocate solution, visit Z5Inventory.com/50For50.
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SOURCE Z5 Inventory