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Business Wire 12-Feb-2024 1:13 PM
Ameriprise Financial, Inc. (NYSE:AMP) 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:
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 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.
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