$3.6 Million Committed For 2006
Newport Beach, Calif. -- (Jan. 26, 2006) -- Nearly 200 nonprofit agencies primarily serving Orange County, CA were awarded grants ranging from $2,500 to $133,000 this afternoon at an annual reception held at Pacific Life’s headquarters in Newport Beach. The Pacific Life Foundation distributed over $3 million at the event and has committed to spend a total of $3.6 million for 2006.
“We look forward to hosting this reception every year as it provides another opportunity for our Foundation to interact with the local nonprofit agencies to whom we provide grants,” said Robert G. Haskell, president of the Pacific Life Foundation. “The reception also provides a unique networking atmosphere for the agencies themselves to interact with their peers who are making positive impacts on our local community.”
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.
The majority of the grants (see attached list) ranged from $5,000 to $10,000; however, 37 agencies received grants greater than $10,000. Of note, a $50,000 grant was given to the Tiger Woods Learning Center Foundation, a center that will be utilized by disadvantaged youth from Anaheim and the surrounding communities. This grant is part of a $100,000 commitment to the Center’s $25 million building campaign. Additionally, a $100,000 grant has been given to The SPLASH Project/Cascadia Research, an international effort to assess the trends and population structure of humpback whales across the entire North Pacific and to identify potential human impacts to this population.
The Pacific Life Foundation, the philanthropic arm of Pacific Life, was established in 1984 and has contributed donations totaling nearly $33 million to hundreds of nonprofits over the past 21 years. The Foundation’s current endowment is approximately $52 million.
Founded in 1868, Pacific Life provides life insurance products, individual annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as clients1 and is a member of Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities.
1 Data compiled by Pacific Life using the FORTUNE 500 list as of April 2005.