CHICAGO--(BUSINESS WIRE)--In recognition of Northern Trust’s 125th anniversary, the company announced it will donate $1.25 million to education-focused non-profit organizations globally, in addition to ongoing philanthropic efforts that total approximately $14 million per year.
“We have a strong, 125-year history of giving back to the communities we serve across the globe, and this targeted donation is consistent with our longstanding commitment to education,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “All of our employees look forward to joining with non-profit organizations worldwide to support the education of underserved children.”
Regional teams of Northern Trust employees in Asia-Pacific, Europe, the Middle East and North America will engage in a process to select organizations and award the funds this year with the goal of helping young people who face economic, intellectual or physical barriers to education.
The educational grant program continues a year-long celebration to commemorate the anniversary of Northern Trust’s founding on Aug. 12, 1889.
From its earliest days, Northern Trust has maintained a philanthropic mission in a variety of ways:
- Four years after founding Northern Trust, Byron L. Smith kick-started a relief fund for victims and their families in response to a major fire during the World’s Fair in Chicago.
- In 1909, Northern Trust’s board of directors created a specific fund for charitable purposes.
- In 1966, The Northern Trust Charitable Trust was established to serve disadvantaged women and children across Chicago. It funds organizations that provide affordable health care and housing, employment services, education and access to the arts.
- In 1989, The Northern Trust Centennial Fund for the Education of Children was endowed during the corporation’s 100 year anniversary with a $1 million gift to the city of Chicago. Since then, employee-led committees have granted more than $1.86 million to innovative education programs.
- In 2013, Northern Trust donated nearly $14 million in corporate contributions, supporting more than 1,800 nonprofits globally, and employees volunteered approximately 120,000 hours in support of not-for-profit organizations.
For more information on the Northern Trust story, see our anniversary website (www.NorthernTrust.com/125), including an e-book on the bank's heritage.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. Chicago-based Northern Trust has offices in 19 states, Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under investment management of US$934.1 billion. For 125 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com and follow us on Twitter @NorthernTrust.