Travelers Releases Community Giving Report on International Corporate Philanthropy Day
HARTFORD, Conn.--(BUSINESS WIRE)-- In recognition of International Corporate Philanthropy Day, The Travelers Companies, Inc. (NYSE: TRV) today released its annual Community Giving Report detailing the company's corporate and foundation contributions for the year, totaling more than $21 million.
"Our commitment to doing right in the communities where we live and work is an important part of our business culture," said Jay S. Fishman, Travelers Chairman & CEO. "From partnering with Habitat for Humanity, to empowering women and minority entrepreneurs, to providing opportunities for young people to excel in high school, college and beyond, we are proud to support causes that help our communities thrive."
Highlights of the company's giving include contributions in key philanthropic focus areas - education and community development:
More than $9.5 million — the largest percentage of Travelers' giving for any category — was focused on educational organizations and activities.
The company celebrated the fifth anniversary of its signature education program, Travelers EDGE (Empowering Dreams for Graduation and Employment), aimed at increasing bachelor's degree attainment and career preparedness. 195 undergraduate students have been directly financially supported by a Travelers EDGE scholarship or stipend.
Travelers launched a new partnership with Habitat for Humanity International and the Insurance Institute for Business and Home Safety to increase ownership of fortified homes in low-income coastal neighborhoods. Travelers also funded 35 Habitat builds in 23 states, logging more than 3,500 employee volunteer hours.
As one of the nation's largest insurers of small businesses, Travelers also began a new education program with Los Angeles-based Valley Economic Development Center to teach women and minority entrepreneurs about the risks associated with small business ownership.
Travelers employees logged more than 42,800 corporate and personal volunteer hours, up from 31,000 in 2011.
Travelers employees requested matching funds of nearly $2 million for their local communities:
In recognition of Travelers employees' volunteer hours, 571 $500 grants went to 411 organizations in 31 states and the District of Columbia, totaling $285,500. Forty-nine states and the District of Columbia received matching grants based on employees' cash donations.
"We are humbled by the stories we've heard from individuals who have benefited from the services, education and opportunities enabled by Travelers and the Travelers Foundation," said Marlene Ibsen, Vice President of Community Relations and CEO of the Travelers Foundation. "While our nation's economy continues to recover, we are pleased to play a role in improving lives and increasing access to opportunity."
To view the full report and see an interactive set of videos, photos and charts, please visit: www.travelers.com/community. Follow and join the conversation on Twitter: #ICPD.
The Travelers Companies, Inc. (NYS: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $26 billion in 2012. The company provides support for charitable organizations in the community through the Travelers Foundation and with corporate funding. The company's community giving is focused on education, community development and the arts. Travelers employees are consistently active in community initiatives and perform tens of thousands of hours in volunteer time each year. For more information, visit www.travelers.com.
Ashley Maagero, 860-277-2954
KEYWORDS: United States North America Connecticut Maryland Minnesota New York
The article Travelers Releases Community Giving Report on International Corporate Philanthropy Day originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.