$4.3 Million Committed for 2005
Newport Beach, CA (Jan. 25, 2005) -- Nearly 200 nonprofit agencies primarily serving Orange County, CA were awarded grants ranging from $2,500 to $100,000 this afternoon at an annual reception held at Pacific Life’s headquarters in Newport Beach. The Pacific Life Foundation distributed $3.3 million in annual grants and has committed a total of $4.3 million for 2005.
In attendance at the celebratory event were nonprofit leaders in the areas of arts and culture; civic, community, and environment; education; and health and human services.
“We really enjoy hosting our grantees at our home office. We have found that this event provides the agencies with a unique networking opportunity to learn what their peers are doing in the community,” said Robert G. Haskell, president of the Pacific Life Foundation. “Since every agency in attendance is awarded a grant, the festive atmosphere is very conducive to sharing common goals and practices.”
The majority of the grants (see attached list) range from $5,000 to $10,000; however, 34 agencies received grants greater than $10,000. The largest grant of $1,000,000 was given earlier this month to UNICEF to assist in the South Asia Tsunami Relief effort. Locally, a $100,000 donation, towards a pledge of $366,000, was given to Healthy Smiles for Kids of Orange County, a pediatric dental center opening in Garden Grove this year to serve uninsured children from low-income families.
The Pacific Life Foundation, the philanthropic arm of Pacific Life, was established in 1984 and has contributed donations totaling nearly $29 million over the past 20 years. The Foundation’s current endowment is approximately $46 million.
Founded in 1868, Pacific Life provides life and health insurance products, individual annuities, mutual funds, group employee benefits, and offers to individuals, businesses, and pension plans a variety of investment products and services. A FORTUNE 500 company, Pacific Life counts 25 of the 50 largest U.S. companies as clients1 and is a member of IMSA (Insurance Marketplace Standards Association), whose membership promotes ethical conduct for individual life insurance and annuities. For additional information about Pacific Life, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standards & Poor’s, and Moody’s visit the company Web site at www.PacificLife.com.
1 Data compiled by Pacific Life using the 2004 FORTUNE 500 list, as of April 2004.