Philanthropy, Sustainability and Equality

2020 PSE Report

Philanthropy

In 1904, R.T. Crane said “a loyal employee gives something besides his labor and the employer should recognize that fact,” and toward the end of his life he set aside one million dollars as a fund for “the purpose of taking care of my men”. Two years after R.T. Crane’s death, members of his family honored his wish by establishing The Crane Fund to “provide a means for giving support to deserving and needy employees after they have, by reason of age or disability, become unable to engage in active work”. The Crane Fund, along with two other company-administered charitable entities, lives on as a lesson in the power of individual leadership and responsibility.

The Crane Fund

Established in 1914 as a private charitable trust, The Crane Fund grants aid to former employees of Crane Co. and their dependents who are unable to be self-supporting because of age or physical disability. The Crane Fund is administered by a Board of Trustees and a Pension Committee, both appointed by Crane Co.’s Board of Directors. For more information, please contact The Crane Fund.

The Crane Fund
140 Sylvan Avenue
Englewood Cliffs, NJ 07632
Tel: +1 201 585 0888

The Crane Fund for Widows and Children

The Crane Fund for Widows and Children makes contributions to charitable organizations that provide direct assistance to underserved populations in the communities where Crane Co. operates. This fund touches the lives of many through its donations to support global relief agencies, and school and scholarship funds in the United States and Canada. For more information, please contact the Crane Fund for Widows and Children.

The Crane Foundation

Created in 1951, the Crane Foundation, Inc. is a non-profit corporation organized exclusively to make charitable contributions for religious, educational and scientific purposes, including institutions that qualify as tax exempt under section 501(c)(3) of Internal Revenue Code. As part of the Foundation, Crane Co. offers its employees with at least one year of service a program for matching gifts to educational institutions. For more information, employees may contact the Crane Foundation Inc., or their local Human Resources department.

A Partnership Honoring our Founder, R.T. Crane

The Crane Foundation, Inc. partnered with the Richard T. Crane Medical Prep High School (RTC) in Chicago to sponsor a program for students to complete an experience-based learning summer program. RTC is a magnet high school that offers a full and articulated college preparatory curriculum and rigorous career coursework focused on the health sciences to students across the city. This curriculum includes a comprehensive science and mathematics sequence and competitive dual enrollment and Advanced Placement courses which arm students with an essential academic foundation. Founded in 1890 as the English Manual and Training School, the school was renamed in honor of Richard T. Crane, the founder of Crane Co., in recognition of his long history of support for education in Chicago.

Through a donation of $105,215, the Crane Foundation covered all costs for the administration of and equipment for a Revenue Cycle Management certification training program for twenty of the school’s students. The program consists of a six-week internship, including shadowing sessions with medical professionals, workforce development sessions and lecture series on a variety of healthcare professions, and clinical workshops. This program is hosted by the Chicago-Based Rush University Medical Center and Lurie Children’s Hospital. Throughout the program, students receive training, support, and professional experience to help them develop employable skills in the healthcare industry, and upon receiving their certifications in Revenue Cycle Management, students are well positioned for strong career opportunities. All course materials and equipment are provided to participants free of charge. This partnership, established in 2021, is expected to continue into future years. Additional information is available in the press release announcing the initiation of the program.

RTC Check Ceremony

“We are incredibly grateful to The Crane Foundation for its support of our students who are passionate about science and medicine but may not otherwise have the resources to pursue their career goals. We are equally thrilled to launch this program to develop important, real-world career skills as students earn certifications in Revenue Cycle Management, one of the fastest-growing fields in healthcare today.”

– Fareeda Shabazz, Principal of Richard T. Crane Medical Prep High School.

Support in Kind

CleanupThroughout the Crane organization many of our Associates volunteer to provide Support in Kind by working on a wide variety of projects in their local communities for those in need.

Recent examples include volunteers from our Crane Electronics business in Lynnwood who partnered with local support agencies for the Annual Day of Caring whose aim is to reduce poverty and homelessness in Washington by providing safe, secure and affordable homes. Our Associates volunteer to undertake a range of tasks including removing fencing and brush land to help provide low income individuals with safe, clean and affordable housing.

Building HousesAssociates from Crane Pumps and Systems in Piqua have, for a number of years, volunteered their time to work on house building and remodeling projects to support the Habitat for Humanity agency for Miami and Shelby Counties. Their aim is to provide moderate to low-income individuals and families the life-changing opportunity to purchase and own simple, quality, affordable homes. Teams of our associates, led by members of the site management team, volunteer to form work groups to carry out construction and maintenance work on housing projects in the local vicinity.

Protecting the Environment

Crane Co. is committed to protecting the environment by taking responsibility to prevent serious or irreversible environmental degradation through efficient operations and activities. Crane Co. recognizes environmental management among its highest priorities throughout the corporation, and has established policies and programs that are integral and essential elements of the business plan of each of the business units.

Going beyond simply complying with all laws related to environmental issues, we are dedicated to minimizing occupational health and safety risks to all our employees by utilizing safe technologies, training programs, effective risk management practices and sound science to define and efficiently manage and reduce all significant environmental risks. We are working to improve the operation of our facilities through the efficient use of energy and sustainable use of renewable resources, and we strive to minimize adverse environmental impact through waste reduction, recycling and responsible waste disposal. Finally, we seek to manufacture and deliver products and services that minimize environmental impact and that are safe when properly used and maintained.

As a proponent of lean manufacturing, “being green” in the sense of conserving resources is built into much of what we do as a company. Nonetheless, greater awareness has enabled each of our business units and our corporate office to identify additional ways to protect our planet proactively while pursuing our business goals and strategy.

Additional Recent Publications

Corporate Governance Guidelines

Committees of the Board of Directors

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