Even with the economy beginning to recover by year-end 2010, we understand that times continue to be difficult for the nonprofit sector. We commend the efforts of nonprofit leaders who have worked tirelessly with their boards of directors to keep their operations running as effectively as possible with limited resources. The Pacific Life Foundation is proud to have provided $5.5 million in grants in 2010 and has committed to continue this level of giving in 2011. In addition, Pacific Life Insurance Company recently made a $6 million contribution to help bolster the Foundation's endowment.
Highlights of our 2010 funding included the renewal of our Economic Impact Grants program, which was made available to agencies affected by state and/or county budget cuts. Over a two-year period, the Foundation contributed nearly $1.5 million to 14 health and human service agencies to help them restore or retain 43 paid positions, as well as maintain services that would otherwise have been lost during 2010 and 2011.
We are particularly pleased with the success of our funding to help homeless families in Orange County. We are proud to be part of a group of collaborative funders who have developed a unique emergency program that diverts homeless families with children from the Cold Weather Emergency Shelter Armories in Orange County to medium-term shelter in motels. The Illumination Foundation, a grassroots organization focused on helping homeless families progress toward a life of independence, supports these families with wraparound services needed to get them back on their feet. The Pacific Life Foundation has committed $200,000 to support this important effort. In addition, another $625,000 has been pledged over four years to support the Illumination Foundation's operations. Since its opening in mid-2008, it has served nearly 400 families.
The Pacific Life Good Guys, Pacific Life's highly regarded employee volunteers, reached a significant milestone in 2010-they celebrated 25 years of service to the community. Over the past quarter century, hundreds of nonprofit agencies have relied on the dedication and enthusiasm of the Good Guys to provide the crucial manpower needed at their fundraising events and community projects.
Finally, we are pleased to announce that Pacific Life's matching gift program was expanded in January 2011 to match employee contributions made to all eligible nonprofit organizations (up to $500 per year), while continuing to match dollar for dollar (up to $2,000 per year) the contributions of employees to colleges and universities. This enhanced program will further encourage and support Pacific Life employees' community philanthropy, as well as provide additional funding directly to nonprofits of interest to Pacific Life employees.
Sincerely,
James T. Morris
Chairman, President and Chief Executive Officer, Pacific Life
Chairman, Pacific Life Foundation
Robert G. Haskell
Senior Vice President, Brand Management and Public Affairs, Pacific Life
President, Pacific Life Foundation