New York Life Employees and Agents Raise Nearly $5 Million in Just Four Weeks, a New Record for Deserving Nonprofits
Milestone Reached as the New York Life Foundation Celebrates its 35th Year of Giving
NEW YORK, May 20, 2014—New York Life announced today that employees and agents raised nearly $5 million for 4,321 nonprofits and educational institutions during the company’s month-long “Give for Good” campaign, an increase of more than 45 percent over the $3.3 million raised in the prior campaign.
Approximately 5,500 employees and agents across the country raised $4.8 million through the company’s annual campaign, which afforded them the opportunity to support charities and schools of their choice through direct giving and by raising funds through an online auction and various activities, including bake sales, mini golf events and trivia contests. The company added another $1.8 million in matching contributions, bringing the total contribution to $6.6 million.
New York Life’s Chairman and CEO Ted Mathas said, “I want to congratulate our agents and employees for their overwhelming support of the company’s ‘Give for Good’ giving campaign, which benefited so many charities and educational institutions. Reaching a record-setting $6.6 million illustrates how faithfully the people of New York Life continue their commitment to improving the lives of others.”
The milestone in giving has been reached as the New York Life Foundation is celebrating its 35th anniversary in 2014. The Foundation was incorporated on May 18, 1979. The first grant recorded in the Board minutes was a $100,000 grant approved on December 13, 1979 to Manhattan Eye, Ear and Throat Hospital. To date, the New York Life Foundation has awarded $185 million in charitable contributions to nonprofit organizations across the country that are dedicated to improving the lives of others, particularly disadvantaged young people. The Foundation plans to award another $16 million in 2014.
Childhood Bereavement Focus Continues
In 2008, the New York Life Foundation added childhood bereavement to its content area, and it is now the largest single funder to childhood bereavement causes in the country. As a life insurance company, New York Life has always been there for its customers in their time of loss. The Foundation’s funding to childhood bereavement providers, which has reached more than $20 million, offers much-needed additional resources to families.
In addition, the Foundation has been the driving force behind three ground-breaking public opinion surveys researching the needs of people who have experienced a loss and the effects of the death of a loved one on survivors and caregivers, including parents who lost a spouse or partner, bereaved children, and teachers working with grieving students.
More recently, the Foundation sponsored an HBO documentary, “One Last Hug: Three Days at Grief Camp,” that took a profound look at how death and grief affect children. Also, a $10,000 grant was given to provide a free, six-day grief camp experience to youth who lost a family member as a result of the devastating landslide that occurred on March 22nd in Oso, Washington.
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s & (AA+).** Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at www.newyorklife.com for more information.
* Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, May 20, 2013. See http://money.cnn.com/magazines/fortune/fortune500/2013/faq/?iid=F500_sp_method%20 for methodology.
**Individual independent rating agency commentary as of 2/3/14.
***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.