Pacific Life Foundation Announces $6 Million Giving Program During 2014
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--The Pacific Life Foundation announced today that it will provide a total of $6 million in funding throughout 2014, a seven percent increase from 2013, and the largest annual amount provided by the Foundation since its inception in 1984. The 2014 grants will support the areas of arts and culture; civic, community, and environment; education; and health and human services. The grants will be directed primarily to the communities where Pacific Life employees live and work, including the greater Orange County, California area and Omaha, Nebraska.
The Pacific Life Foundation’s initial 2014 grants were presented to local Southern California organizations on January 30 at the annual Grants Reception, held at Pacific Life’s Newport Beach headquarters. The highlight of the evening was the presentation of the Walter B. Gerken Community Service Award and a $50,000 unrestricted cash grant to the American Red Cross, Orange County Chapter. Since 1985, the Pacific Life Foundation has provided more than $500,000 in grants to support American Red Cross efforts in the Orange County community.
A selection of the grant categories and awards are highlighted below. For a full listing of 2014 grants, please visit www.PacificLifeFoundation.com.
171 nonprofit agencies, primarily in Southern California, were awarded more than $1.6 million in grants. In Omaha, Nebraska, $209,500 was granted to 29 local agencies and schools. Grants will fund a wide range of programs including museum field trips for children, healthcare services for low-income families, senior support services, and environmental protection projects.
Major Grant Funding:
Ocean Health Index: The Pacific Life Foundation is the Founding Presenting Sponsor of the Ocean Health Index initiative. The Index is an annual assessment on the condition and health of oceans globally with a score ranging from zero to 100. The Pacific Life Foundation will donate $1,000,000 this year to the Ocean Health Index, toward fulfillment of a $5 million multiyear pledge.
Council on Aging-Orange County: A multiyear pledge of $675,000 will maintain the federal and state-mandated Long-Term Care Ombudsman program, which the Council on Aging-Orange County is responsible for implementing in 1,100 Orange County senior care facilities that serve 28,000 low-income residents. In 2014, the Pacific Life Foundation will provide $225,000 toward its pledge.
3T’s of Education:
Since 1998, the Pacific Life Foundation has annually awarded grants to K-12 schools where there are concentrations of children or grandchildren of Pacific Life employees. A 3T’s of Education grant must be designated in one of the following areas: Teacher Training, Textbooks, or Technology. In 2014, 136 K-12 schools nationwide will be granted $421,500.
Matching Gift Program:
The Pacific Life Foundation supports a robust matching gift program for employees. In 2014, the Foundation will match employee donations of approximately $385,000 to United Way and an additional $250,000 to U.S. nonprofit agencies and colleges/universities supported by employees.
About Pacific Life and the Pacific Life Foundation
The Pacific Life Foundation was established in 1984. Together with Pacific Life, the Foundation has contributed more than $77.9 million to community and national nonprofit organizations. Grants are made to organizations that address a broad spectrum of social needs.
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of May 2013 is compiled by Pacific Life using the 2013 FORTUNE 500® list.