MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP (OTC:)) and its employees and advisors donated more than $16.5 million through corporate grants, individual donations and gift matching in 2023. Continuing its ongoing commitment to helping individuals meet basic needs, the firm funded nonprofits with a focus on hunger, shelter and economic stability. Throughout the year, Ameriprise employees and advisors logged nearly 63,000 volunteer hours supporting causes and organizations that help build strong communities. In addition, the company continued its longstanding partnership with Feeding America, providing more than 124 million meals to people facing hunger.
Many nonprofits are being asked to provide additional services at a deeper level to more people, said Brian Pietsch, head of community relations at Ameriprise. At the same time, donors are re-evaluating their own personal ability to give in the face of higher interest rates and inflation. Given these circumstances, nonprofits are increasingly turning to strong partners and dedicated volunteers, like those at Ameriprise, to support the increased need.
Highlights from Ameriprise’s 2023 grant funding
Ameriprise is dedicated to leveraging its resources and talents to improve the lives of individuals and families to help build strong communities. In 2023, the firm funded 235 grants focused on helping people meet basic needs like food and shelter and building equitable communities. Additionally, the firm made a concerted effort to address the increasing issue of youth homelessness through $100,000 in targeted grants made during the holiday season.
A few grant highlights include:
- The Oregon Food Bank collaborates with 21 Regional Food Banks and 1,400 partner agencies, including food pantries, meal sites, free produce distributions and other supplemental programs, to provide a strong and diverse network of food assistance programs across Oregon and Southwest Washington. They source and distribute over 78 million meals each year and 58% of all food is distributed as fresh or frozen produce, dairy and protein. In addition to equitably distributing nutritious food, Oregon Food Bank focuses on eliminating the root causes of hunger by addressing the policies and practices that cause food insecurity in the first place.
- Since its founding, Brooklyn Museum has been committed to making art more accessible to the immediate community in Central Brooklyn and beyond. The museum offers pay-what-you-wish admission as well as a wide variety of free educational and public programs that serve low-income adults including individuals with memory loss, low vision/blind, deaf and intellectual and development disabilities. Each year the museum’s Community Programming brings together more than 5,000 individuals to experience intergenerational learning, art making and exhibition celebratory events.
- Per Scholas is a national organization that advances economic equity through rigorous training for technical careers. The Per Scholas Greater Boston location provides low-to-moderate income adults with a tuition free education for in-demand technical skills such as IT Support, Cybersecurity, Software Engineering and Web Services. Through partnerships with dynamic employers, they connect graduates to meaningful employment, creating opportunities for advancement and economic mobility.
- The Bridge for Youth is the largest emergency shelter for minor-aged youth in Hennepin County, Minn. While at The Bridge, youth receive food, shelter, clothing and comprehensive case management, which connects them to on-site healthcare, education and employment assistance and therapeutic counseling. In the coming year, The Bridge will work with more than 10,000 youth.
Ameriprise Bank, FSB invests in the Minneapolis/St. Paul area
in 2023, in accordance with the Community Reinvestment Act (CRA), Ameriprise Bank, FSB, made a $1 million Equity Equivalent Investment (EQ2) in Propel Nonprofits (Propel), a certified Community Development Financial Institution (CDFI) that provides flexible loan capital to Twin Cities area nonprofit organizations. This is Ameriprise Bank’s second $1 million investment in Propel’s nonprofit lending program. Ameriprise Bank also provided liquidity to the Twin Cities area residential mortgage market with a $10 million investment in a low and moderate-income mortgage-backed security in 2023.
About Ameriprise Financial (NYSE:) Community Relations
Ameriprise Financial is dedicated to utilizing the firm’s resources and talents to improve the lives of individuals and build strong communities. Through grantmaking, volunteerism and employee and advisor gift matching programs, the company supports a diverse group of more than 7,500 nonprofits across the country. By targeting our grantmaking, the company can make the most of its resources and engage its people to make a collective impact with greater benefit for communities. Ameriprise funds grants to local nonprofits twice annually”the next deadline is May 15 and guidelines are available on the firm’s website.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 125 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors’ financial needs.
© 2024 Ameriprise Financial, Inc. All rights reserved.
Alison Mueller, Media Relations
Source: Ameriprise Financial, Inc.