CHARLESTON, S.C., May 17, 2018—New York Life has announced a $100,000 grant to the International African American Museum (IAAM) to support the development of the museum, including its Center for Family History, which is expected to begin later this year. The IAAM is scheduled to open its doors in 2020.
"As a company committed to supporting the African American community and celebrating its culture and history, New York Life is honored to help the IAAM establish an international research and educational hub," said Heather Nesle, vice president, Corporate Responsibility, New York Life. "It's important that we continue to help individuals and families understand the role their ancestors played in the story of our country and their own heritage."
"New York Life Insurance has long been an avid supporter of the African American community both financially and through its commitment to a diverse workforce," said Michael Boulware Moore, IAAM president and CEO. "We're honored to have their support as we approach our groundbreaking later this year."
The International African American Museum will be located at the historic site of Gadsden's Wharf. Nearly half of all enslaved Africans brought to the United States arrived in Charleston, and the majority entered at Gadsden's Wharf. The museum will feature a Center for Family History, where guests will have access to state-of-the-art technology that will assist them in uncovering their ancestries and, in many cases, their personal connections to Gadsden's Wharf.
The contribution from New York Life is in line with the company's longstanding commitment to the African American community. Over the decades, this commitment has included donating company archives to the Schomburg Center for Research in Black Culture, funding impactful organizations and initiatives like the PBS series "Slavery and the Making of America," and helping to establish The New York Life Endowment for Emerging African American Issues at the Colin Powell Center for Policy Studies at CUNY.
Nearly half of all enslaved Africans forced to America through the Transatlantic Slave Trade arrived in Charleston, and the vast majority disembarked at Gadsden's Wharf, the future home of the International African American Museum (IAAM) and one of the most significant and sacred sites of the African American experience in the Western hemisphere. The IAAM, a museum, memorial and site of conscience, will present unvarnished history and culture, commemorate and celebrate the foundational role that Africans and their descendants played in the making of America, and highlight their diasporic connections around the world. It will include immersive, interactive exhibits engaging to all ages and feature the Center for Family History, a leading genealogy archive that will help visitors identify their individual threads in the complex tapestry of history.
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. 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, 6/12/17. For methodology, please see http://fortune.com/fortune500/
** Individual independent rating agency commentary as of 8/01/17.
*** 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.