In 2023, Ameriprise Financial, Inc. (NYSE: AMP), along with its employees and advisors, contributed more than $16.5 million through corporate grants, individual donations, and gift matching. The firm continued its steadfast dedication to supporting individuals in meeting basic needs by funding nonprofits focused on hunger relief, shelter, and economic stability. Throughout the year, Ameriprise employees and advisors collectively volunteered nearly 63,000 hours, aiding causes and organizations dedicated to building resilient communities. Furthermore, the company upheld its longstanding partnership with Feeding America, supplying over 124 million meals to individuals facing food insecurity.
“Many nonprofits are being asked to provide additional services at a deeper level to more people,” remarked 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 demonstrated its commitment to enhancing the lives of individuals and families and fostering robust communities by allocating funds to 235 grants aimed at addressing fundamental needs such as food and shelter and promoting equitable communities. Additionally, the firm directed $100,000 in targeted grants during the holiday season to combat the escalating issue of youth homelessness.
Notable grant highlights include:
- The Oregon Food Bank, collaborating with 21 Regional Food Banks and 1,400 partner agencies, distributes over 78 million meals annually, with 58% being fresh or frozen produce, dairy, and protein. In addition to food distribution, the organization focuses on addressing the root causes of hunger.
- The Brooklyn Museum is dedicated to making art accessible to the Central Brooklyn community and beyond, offering pay-what-you-wish admission and free educational programs serving low-income adults, including those with disabilities.
- Per Scholas provides tuition-free technical education in IT Support, Cybersecurity, Software Engineering, and Web Services to low-to-moderate-income adults, connecting graduates with meaningful employment opportunities.
- The Bridge for Youth serves as the largest emergency shelter for minor-aged youth in Hennepin County, Minn., offering comprehensive services including shelter, healthcare, education assistance, and therapeutic counseling.
Moreover, in alignment with the Community Reinvestment Act (CRA), Ameriprise Bank, FSB invested $1 million in Propel Nonprofits, a certified Community Development Financial Institution (CDFI), providing flexible loan capital to Twin Cities area nonprofit organizations. This marks Ameriprise Bank’s second $1 million investment in Propel’s nonprofit lending program. Additionally, Ameriprise Bank supported the Twin Cities area residential mortgage market with a $10 million investment in a low and moderate-income mortgage-backed security in 2023
