Pacific Life Foundation Announces $7 Million Giving Program for 2019
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Jan 30, 2019--The Pacific Life Foundation announced it plans to give $7 million in charitable funding in 2019. Supporting communities where Pacific Life employees live and work, including Orange County, California; Omaha, Nebraska; and Lynchburg, Virginia, the grants will focus on the areas of arts and culture; civic, community and economic development; environment; education; and health and human services.
Totaling more than $3.5 million, the Pacific Life Foundation’s initial 2019 grants were presented to 212 nonprofit agencies on January 29 at its annual grants reception held at Pacific Life’s Newport Beach headquarters. As part of the reception’s special presentation, Orange County-based nonprofit, Think Together, 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 also announced a $2 million transformational grant and partnership with the University of California, Irvine Paul Merage School of Business’s Center for Investment and Wealth Management to support its LIFEvest Financial Literacy Program. The program, which provides financial literacy education for vulnerable youths, strives to instill a lifelong curiosity in personal finance and the necessary financial skills and confidence to pursue a college education.
Highlights of the 2019 giving program include:
Capital grants were provided to the Boys & Girls Club of Central Orange Coast for $250,000 to renovate and modernize its existing buildings at six club locations, and to Mission Hospital Regional Medical Center in the amount of $100,000 to support its Laguna Beach Emergency Department refresh and expansion project. Additionally, a $25,000 grant was given to the Bolsa Chica Conservancy for its Interpretive Center.
3Ts 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. The 3Ts of Education grants are provided in one of the following areas: teacher training, textbooks or technology. In 2019, 173 K-12 schools nationwide have been granted $599,000 in funding. Since 1998, more than $8.3 million in 3Ts of Education grants have been distributed.
Pacific Life’s long-standing partnership with the United Way dates back to 1932. During Pacific Life’s annual United Way Campaign, the Pacific Life Foundation matches every dollar donated by employees. Planned giving is expected to reach more than $1 million in combined employee and foundation contributions in 2019.
Marine Mammal and Ocean-related Causes
The Pacific Life Foundation will provide $500,000 in 2019 toward marine mammal, ocean related, and environmental causes. To date, the Pacific Life Foundation has funded $14.5 million to support ocean health and marine mammal research.
Matching Gifts Program
In 2018, the Pacific Life Foundation matched employee donations of $363,842 to 511 nonprofit organizations, colleges and universities supported by employees.
Life Happens Scholarships
In 2018, as part of Pacific Life’s 150 th anniversary, the Pacific Life Foundation in conjunction with Life Happens awarded $60,000 in college scholarships to four students who had lost a parent who did not have life insurance. In 2019, the Pacific Life Foundation plans to award $75,000 in scholarships to five students in Orange County, Omaha and Lynchburg.
Employee Volunteer Program
The Pacific Life Foundation will continue its successful volunteer program, the Good Guys, who in 2018 counted 2,968 volunteers, completed 260 projects and provided 14,502 volunteer hours to support 110 nonprofits.
About Pacific Life and the Pacific Life Foundation
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through 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.
The Pacific Life Foundation (the Foundation) was established in 1984. Together with Pacific Life, the Foundation has contributed more than $109 million to community and national nonprofit organizations. Grants are made to organizations that address a broad spectrum of social needs.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2018 is compiled by Pacific Life using the 2018 FORTUNE 500® list.
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CONTACT: Jesse Page
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PHILANTHROPY PROFESSIONAL SERVICES INSURANCE FOUNDATION FUND RAISING
SOURCE: Pacific Life Foundation
Copyright Business Wire 2019.
PUB: 01/30/2019 10:00 AM/DISC: 01/30/2019 10:01 AM