01/30/2023 | Press release | Distributed by Public on 01/30/2023 11:15
MINNEAPOLIS--(BUSINESS WIRE)-- Ameriprise Financial, Inc. (NYSE: AMP), along with its employees and advisors, donated more than $17.4 million through corporate and individual donations and gift matching in 2022. Continuing its longstanding commitment to helping individuals meet their basic needs, the firm focused on funding nonprofits working to solve domestic hunger, end homelessness and increase adult self-sufficiency through financial education and job training programs. Throughout the year, Ameriprise employees and advisors supported causes they care about by logging nearly 64,000 volunteer hours. In addition, the company deepened its 13-year partnership with Feeding America, through which more than 115 million meals have been provided to people in need.
"Nonprofits faced a fresh set of challenges in 2022 - notably inflation, supply chain issues and a tight labor market. At the same time, demand for their services surged as people facing hardships leaned on them for support," said Brian Pietsch, head of community relations at Ameriprise. "This 'perfect storm' makes our longstanding commitment to the nonprofit community more important than ever. Our employees and advisors share our passion for giving back, and we're pleased to make a collective impact in order to support these amazing nonprofits."
Highlights from Ameriprise's 2022 grant funding
Ameriprise funded 234 grants focused on helping people meet basic needs like food and shelter and building equitable communities. A few highlights include:
Ameriprise Bank, FSB invests in the Minneapolis/St. Paul area
In 2022, Ameriprise Bank, FSB, in accordance with the Community Reinvestment Act (CRA) continued to make grants and investments to support affordable housing, social services and economic and workforce development across the Minneapolis/St. Paul region, its designated CRA assessment area. The Bank made a $4 million Equity Equivalent Investment (EQ2) in Aeon, one of the leading nonprofit developers, owners and managers of affordable housing in the Twin Cities, serving approximately 17,000 low-income residents annually. This investment will help Aeon be competitive with for-profit developers in acquiring NOAH (Naturally Occurring Affordable Housing) properties and keeping them perpetually affordable, as well as providing Aeon with long-term flexible capital for additional affordable housing development and preservation.
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.
© 2023 Ameriprise Financial, Inc. All rights reserved.
Alison Mueller, Media Relations
612.678.7183
[email protected]