By Loretta Worters, Vice President – Media Relations, Triple-I
The insurance coverage business contributed greater than $1 billion to charitable endeavors in 2022, in keeping with an impartial overview by the Insurance Industry Charitable Foundation (IICF).
Alongside the business’s charitable giving, the IICF Philanthropic Giving Index revealed different group contributions in 2022, demonstrating the business’s dedication to giving and volunteerism:
- 137,300 nonprofit companions and causes acquired assist
- 7.5 million volunteer hours had been served
- 94,000 insurance coverage professionals volunteered
These numbers had been introduced on November 15, National Philanthropy Day, which is well known by fundraising professionals, authorities leaders, foundations, companies, particular person donors and others who want to honor all of the contributions philanthropy has made.
“Philanthropy Day provides an opportunity to reflect on the meaning of giving and all that the insurance industry has accomplished,” mentioned IICF Vice President and Chief Program Officer Elizabeth (Betsy) Myatt. With analysis assist from Triple-I, IICF reviewed knowledge from 120 firms, consultant of all sectors of the insurance coverage business, for this snapshot of industrywide charitable giving and supporting knowledge.
“These collective philanthropic findings provide the industry with a remarkable numeral representation of the generous charitable giving and support by our many insurance businesses,” mentioned Myatt, who can also be the Executive Director of the Northeast Division of IICF.
IICF is a nonprofit that unites the shared strengths of the insurance coverage business to assist communities and enrich lives via grants, volunteer service, and management. Established in 1994, it has served because the philanthropic voice and basis of the business for near 30 years, contributing $47 million in group grants together with over 337,000 volunteer hours by greater than 115,000 business professionals. IICF reinvests domestically the place funds are raised, serving lots of of charities and nonprofit organizations for optimum group affect.
Among the various charities IICF awards grants to are:
- KiDS NEED MoRE, a 501(c)(3) nonprofit charitable group devoted to enhancing the lives of kids and households dealing with life-threatening sicknesses and traumatic interruptions of the traditional childhood expertise;
- 180 Turn Lives Around, which offers applications and providers for victims of home and sexual violence;
- Boston Scores, serving to to interrupt limitations to advance racial and gender equality;
- National Alliance on Mental Illness, whose mission is to assist households and people affected by psychological sickness construct higher lives via training, assist and advocacy.