The Simón Bolívar Foundation Releases 2021 Annual Report

Highlights Charitable Grants for Vulnerable People in and from Venezuela

HOUSTON, June 27, 2022 /PRNewswire/ -- The Simón Bolívar Foundation Inc., the 501(c)(3) nonprofit private foundation of CITGO Petroleum Corporation, today released its 2021 Annual Report. The Foundation is dedicated to improving the health of vulnerable people affected by the complex, ongoing humanitarian crisis in Venezuela, with special attention to mothers and children.

After redefining its vision and mission in 2020, the Foundation broadened its impact by awarding charitable grants to large 501(c)(3) and other qualified organizations, aiming to benefit a larger number of individuals in need. In 2021, the Foundation awarded grants to several humanitarian health organizations, including:

• $663,325 to support four charitable projects that will help improve the health conditions of Venezuelan and other migrants in Colombia. Projects supported include the development of medical infrastructure for Venezuelan and other migrants, nutrition programs in public schools, and improved maternal health care.
• $1 million grant agreement with GlobalGiving, to manage grantmaking and provide funds to reliable, high-impact community support charitable organizations in Venezuela, perform a needs assessment for funding and provide capacity building to smaller organizations in Venezuela. GlobalGiving is a top-rated nonprofit that connects other nonprofit organizations with donors and firms to accelerate community-led change around the world for those in need.

Additionally, in 2021 the Foundation signed agreements with three organizations working on critical humanitarian issues:

• An agreement with researchers at the Johns Hopkins Center for Humanitarian Health, to conduct a study to assess current conditions and evaluate the health situation in Venezuela and define priorities, concerns and better work approaches. Released in March 2022, the study will help guide the programming of humanitarian health grants toward areas of greatest impact and most urgent need.
• Center for Disaster Philanthropy, a nonprofit committed to making disaster-related contributions more effective and strategic, to assess the needs of Venezuelan and other migrants, with particular attention to health conditions in Latin America.
• Baylor College of Medicine, to fund scholarships for doctors who work in Venezuela to pursue a world-class Diploma in Baylor's Tropical Medicine Course.

"We're proud to share the progress we've made during last year toward fulfilling the vision and mission we set out in 2020," said Mariela Poleo, President of the Simón Bolívar Foundation. "Our new focus on grantmaking to recognized nonprofits and research partners has allowed us to expand access to health care and nutrition to a greater number of people affected by Venezuela's humanitarian crisis. Continuous improvements to our grantmaking process, governance and strategy will allow us to continue to broaden our impact in 2022."

In total, 2021 expenditures committed were $3.4 million, with 56.8% to high-impact charitable grants, 39.4% to individual patient medical grants, and 3.8% to administration expenses. These amounts exclude in-kind donations from CITGO Petroleum Corporation.

This is the second time the Foundation has issued a public report, part of the Foundation's ongoing commitment to transparency and good corporate governance.

Learn more about the Foundation and its annual report here

About The Simón Bolívar Foundation
Simón Bolívar Foundation Inc. is the 501(c)(3) nonprofit, private foundation of CITGO Petroleum Corporation. The Foundation supports charitable initiatives, leverages existing resources and provides charitable grants to qualified organizations to meet the immediate and long-term health needs of the most vulnerable individuals, particularly in and from Venezuela with a special focus on the health and well-being of children and their mothers.

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SOURCE CITGO Corporation