Northern Trust Gives $15 Million to Charities in 2012;
Debuts Global Volunteer Program
Contributions as percentage of 2012 pre-tax profits exceed many corporations
CHICAGO--(BUSINESS WIRE)-- Northern Trust donated $15 million last year in corporate contributions, achieving its goal of giving back 1.5 percent of annual pre-tax profits, and employees volunteered nearly 200,000 hours in support of communities around the world.
The company's 2012 charitable giving reached its highest total contribution amount since 2007. According to the Committee Encouraging Corporate Philanthropy's Giving in Numbers: 2012 Edition, Northern Trust's total giving as a percentage of pre-tax profits exceeded many Fortune 500 companies surveyed in 2011. The median level of corporate giving among surveyed companies was less than 1 percent of pre-tax profits.
Northern Trust's philanthropy is based on the premise that healthy schools and vibrant communities are good for business and prosperity, and represents Northern Trust's commitment to giving back to its communities. It is a key component of Northern Trust's corporate social responsibility strategy, which also includes diversity and inclusion, environmental awareness and socially responsible investing. Northern Trust has been recognized by the Dow Jones Sustainability and MSCI ESG indices, both of which ranked Northern Trust in the 100th percentile for Corporate Philanthropy in 2012.
For the first time, Northern Trust offered two full days of paid time off to its more than 14,000 employees, empowering staff members to support charitable causes of their choice. Employees took advantage of the new policy by giving their time to a variety of causes, such as helping school children improve literacy skills, providing meals to the hungry and planting saplings in a public housing development.
"Northern Trust has always been an active supporter of the communities in which we live and work. Now, through the Northern Trust Community Partners program, we're giving our employees time to get involved with causes personally important to them," Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. "We're proud to enable our workforce to contribute on an individual basis as well as through group projects organized at our offices around the world."
Northern Trust's approach to philanthropy focuses on developing deep relationships with select nonprofits to help the organizations deliver the greatest impact. Northern Trust's support of nonprofits includes grants and value-added support such as human and intellectual capital, event sponsorships and donations in-kind.
In 2012 Northern Trust invested in its communities in ways that included the following:
More than $200,000 given to the American Red Cross for Hurricane Sandy disaster relief.
$2.3 million in Northern Trust Charitable Trust grants awarded to organizations working to improve quality of life and build self-sufficiency among Chicago's underserved populations.
$10.2 million in charitable sponsorships provided across North America, EMEA and APAC.
Nearly 200,000 volunteer hours reported by employees worldwide.
More than $550,000 in charitable contributions made through the Employee Matching Gift program.
Northern Trust Community Partners program formalized to support and implement nonprofit engagement strategies led by employee volunteers.
To learn more about corporate social responsibility at Northern Trust, please read our report: http://www.northerntrust.com/csr.
About Northern Trust
Northern Trust Corporation (NAS: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2012, Northern Trust had assets under custody of US$4.8 trillion, and assets under investment management of US$758.9 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation
Bailey Madden, 312-557-1314
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The article Northern Trust Gives $15 Million to Charities in 2012; Debuts Global Volunteer Program originally appeared on Fool.com.
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