NEWPORT BEACH, Calif.--(BUSINESS WIRE)--The Pacific Life Foundation today announced it expects to give a total of $7 million in charitable funding in 2018. The funds will support a variety of focus areas where Pacific Life employees live and work, as well as multiple onsite and offsite service opportunities for employees in Orange County, California; Omaha, Nebraska; and Lynchburg, Virginia to give back to their communities in celebration of the company’s 150th anniversary year.
The Pacific Life Foundation’s initial 2018 grants, totaling $2 million, were presented to 214 nonprofit agencies on January 25, 2018 at the Foundation’s annual grants reception held at Pacific Life’s Newport Beach headquarters, including funds distributed to Omaha and Lynchburg recipients.
As part of the reception’s special presentation, the UCI Foundation received the Walter B. Gerken Community Service Award, named after Pacific Life’s former chairman and CEO, and a $50,000 unrestricted cash grant. The Pacific Life Foundation provided its first funding to UCI in 1986 and since then has distributed more than $1.35 million in grants to a variety of programs, including the Claire Trevor School of the Arts, the Center for Investment and Wealth Management, the Paul Merage School of Business, the SAGE Scholars program, and the UCI Diabetes Center.
Highlights of the 2018 giving program include:
A Celebration of Pacific Life’s 150th Anniversary
To help celebrate the company’s milestone year, the Pacific Life Foundation has planned multiple opportunities for Pacific Life employees to give back to their communities, including onsite and offsite service projects at or near all major office locations.
The Pacific Life Foundation will match all employee donations to nonprofits and universities at 150 percent to help mark the company’s 150th year, and will sponsor four $15,000 college scholarships in conjunction with LifeHappens.org to help aid the financial burden for college students who have lost a parent without life insurance.
Marine Mammal and Ocean-Related Causes
The Pacific Life Foundation will provide $500,000 toward marine-mammal and ocean-related causes. Recipients include the Ocean Conservancy, Oceana, The Nature Conservancy and the World Wildlife Fund.
3T’s of Education
Annually, the Pacific Life Foundation awards grants to K-12 schools where there are concentrations of children or grandchildren of Pacific Life employees. 3T’s of Education grants are provided in one of the following areas: teacher training, textbooks, or technology. In 2018, 147 K-12 schools nationwide have been granted a total of $534,500.
Pacific Life has a long-standing partnership with United Way, spanning more than 85 years. During Pacific Life’s annual United Way Campaign, the Pacific Life Foundation will match every dollar donated by a Pacific Life employee, with planned giving expected to reach more than $900,000 in 2018.
Employee Volunteer Program
The Pacific Life Foundation will continue its successful employee volunteer program, the Good Guys, who in 2017 completed more than 260 projects and provided 12,500 volunteer service hours.
For more information about the Pacific Life Foundation or to view a listing of the 2018 grants that have already been distributed, please visit www.PacificLifeFoundation.com.
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 $100 million to community and national nonprofit organizations. Grants are made to organizations that address a broad spectrum of social needs.
Celebrating its 150th anniversary in 2018, Pacific Life provides a wide range of 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. To explore the heritage of Pacific Life and learn more about our history, visit www.pl150years.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2017 is compiled by Pacific Life using the 2017 FORTUNE 500® list.