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Newport Beach investment firm donates 1,216 pounds of food and goods to OC Food Bank

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An estimated £ 1,216 of food and merchandise was donated on Saturday by employees of PIMCO, an investment management firm in Newport Beach, at the 14th annual “Share the Harvest” donation event for needy Orange County families.

PIMCO also donated enough funds to pay for an additional 14,000 food boxes with preserves, non-perishable products, diapers, baby formulas and toys distributed by the OC Food Bank.

The two largest food banks in Orange County – Second Harvest Food Bank and OC Food Bank – have struggled with the effects of the epidemic on the economy. Both reported earlier this year on the need for donations to be able to help people who are struggling more than usual because of the effects of COVID-19.

The OC Food Bank provided about £ 63 million of food last year alone, compared to £ 23 million in 2019. It works with PIMCO in addition to 225 other community partners to distribute food to the needy across the county.

Workers also responded to another crisis exacerbated by the plague – the need for diapers. In 2018, the National Diaper Bank chain, an association dedicated to supplying diapers to children, reported in 2018 that one in three families struggles to provide clean diapers for their babies.

This has become particularly apparent for low-income families during the epidemic because federal aid does not pay for diapers, and the state’s diaper assistance program is too limited to fill the need.

Nate Brown, director of the PIMCO fund, said the company has been holding donation events for OC Food Bank since 2008.

“OC Food Bank is grateful for PIMCO’s long-term partnership and dedication to providing food, toys, diapers and more to members of our local community, especially during this particular holiday season,” said Gregory Scott, CEO and President of Community Action.

“Despite the challenges of the ongoing COVID-19 epidemic, PIMCO continues to find ways to give back in unique ways, such as hosting a guided collection event for employees, where all donations will be provided to needy families,” Scott said. “The holiday season is bright thanks to our generous partners like PIMCO.”

Volunteers, from left, Josiah Andrews and his mother, Tina, Shannon Holloway and Chris Shearer collected donations left by other employees during the 14th annual “Share the Harvest” donation event at PIMCO’s office in Newport Beach.

(Kevin Chang / Team Photographer)

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