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The company continued its longstanding support for nonprofits that help people meet basic needs and made additional donations to communities impacted by the pandemic and civil unrest
In 2020, Ameriprise Financial, Inc. (NYSE: AMP), along with its employees and advisors, donated $17.3 million to help communities in need and combat the unique challenges brought on by the Covid-19 pandemic and civil unrest. Additionally, Ameriprise employees and advisors recorded more than 35,000 volunteer hours in support of hunger relief and community rebuilding, which were in historically high demand amid the environment.
"As we approach the one-year mark of the Covid-19 pandemic, there is hope for brighter days ahead, but as we’re all aware millions of people are struggling," said Brian Pietsch, head of community relations at Ameriprise. "The pandemic has disproportionately impacted underserved communities, which is particularly troubling. Despite the challenges 2020 presented, our employees and advisors reacted with compassion and generosity, volunteering their time and resources to help people in need."
The company enhanced its ongoing giving strategy to help families and individuals during a tumultuous year
In addition to Ameriprise’s longstanding support for nonprofits that help meet basic needs and create strong vibrant communities, the company accelerated its corporate donation schedule to immediately help nonprofits provide services, cover cash flow and general operating expenses at the start of the pandemic. In total, the company funded 238 grants focused on helping people meet basic needs like food and shelter, building equitable and vibrant communities, and providing Covid-19 relief. A few highlights include:
The company made Covid-19 relief donations totaling $150,000 to nonprofits in communities where it has a large employee presence – the Minnesota Disaster Recovery Fund, The Robin Hood Relief Fund in New York, Boston Resiliency Fund, Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund in India and City Harvest London.
Ameriprise donated more than $400,000 to Feeding America, which included two additional grants to help meet the increased demand on food banks as a record number of people sought out their services. Since 2009, Ameriprise and its volunteers have provided more than 100 million meals and logged nearly 350,000 volunteer hours to hunger-relief organizations across the country.
Following the tragic death of George Floyd, the company made a $150,000 donation split equally between Northside Achievement Zone (NAZ), The Minneapolis Foundation Fund for Safe Communities and Twin Cities Rebuild for the Future Fund via The Minneapolis Foundation.
Ameriprise continued its strong tradition of volunteerism despite challenges
Although the Covid-19 pandemic hampered volunteer opportunities, Ameriprise’s employees and advisors recorded 35,000 volunteer hours – giving back while adhering to local health and safety guidelines. In addition to traditional volunteer activities, the firm encouraged employees and advisors to show kindness to their friends, neighbors, and community members by participating in activities like delivering groceries for the elderly, virtual volunteering and thanking healthcare workers. Time spent on acts of kindness was eligible for the eight hours of paid time off, which Ameriprise employees receive for volunteerism each year.
Ameriprise Bank, FSB invests in the Minneapolis/St. Paul area
With the 2019 launch of Ameriprise Bank, FSB, community contributions began in accordance with the Community Reinvestment Act (CRA). In 2020, Ameriprise Bank made significant 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 three Equity Equivalent Investments (EQ2), totaling $4 million to the Greater Minnesota Housing Fund, which will help the development and preservation of 1,000 units of affordable housing over the next ten years.
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 8,000 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 a network of approximately 10,000 financial advisors and extensive asset management, advisory and insurance capabilities, we have the strength and expertise to serve the full range of consumer financial needs. For more information, visit ameriprise.com.
© 2021 Ameriprise Financial, Inc. All rights reserved.
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Alison Mueller, Media Relations