On October 14, employee volunteers from Franklin Templeton's (NYSE:BEN) Rancho Cordova, California office joined employees from Cisco (NASDAQ:CSCO) in participating in a house build. These volunteers were the first corporate team on the Cornerstone Project, the largest Habitat for Humanity of Greater Sacramento development to date, which is being built in partnership with Mutual Housing of California. When complete, the community will provide housing to at least 400 individuals through 18 homes built by Habitat and 108 affordable rental units built by Mutual.
Franklin Templeton, Cisco, and the Cisco Foundation have been longtime supporters of Habitat for Humanity of Greater Sacramento, but this was their first time partnering on a build day event. The collaboration included a combined $35,000 in grant funds towards the building of this home project.
Phil Wolf, Account Manager, NorCal Commercial for Cisco, brought the idea to Franklin Templeton. "Cisco has a longstanding partnership with Habitat for Humanity and employees that love to get out and give back. I am fortunate to work closely with Franklin Templeton where I knew there is a similar passion," said Wolf. "To be able to bring Cisco and Franklin Templeton together, working side by side to raise money and build homes within our local community was a small dream come true."
The two companies are hoping to make the partnership an annual event.
BEN shares dipped 59 cents, or 2.2%, to $26,74, while those for CSCO climbed 16 cents to $44.95.
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