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Corporate Social Responsibility
News
3.19.2007 - 12:25pm ET
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Travelers 2006 Annual Charitable Contributions Top $15 Million
Giving Focus Aims to Improve College Access Rates and Economic Development in Underserved Communities
(CSRwire) SAINT PAUL, Minn.--(BUSINESS WIRE)--March 16, 2007--The Travelers
Companies, Inc. and its two private foundations, Travelers Foundation and
Travelers Connecticut Foundation, awarded $15.5 million to charitable
organizations nationwide in fiscal year 2006. Giving is focused on
education, community development and arts and culture - areas where
Travelers has helped create opportunities for people to succeed and build
economically stable communities for more than 150 years.
Improving college access rates
According to the U.S. Department of Labor, nine out of 10 of the fastest
growing U.S. jobs require some level of post-secondary education. At the
same time, there is a growing population of students who are less likely
to graduate from high school or to pursue further education. To help build
the workforce of tomorrow, Travelers contributed more than $3.3 million in
2006 grants to support the success of low-income, first-generation
students in post-secondary education.
"Improving student access to post-secondary educational opportunities is
critical to the long-term economic success of an individual and a
community," said Mary Pickard, president of the Travelers Foundation.
"Those lacking the resources to go to college, and young students who do
not have a defined path to college, depend on programs that can put them
on track to a post-secondary degree or certificate program." Examples of
Travelers grants that improve college access include:
- $201,000 grant to the Minnesota Private College Fund's
Urban
Education Scholarship Program that supports 22 low-income
Minnesota students of color pursuing urban teaching careers.
- $127,000 in grants to the Greater Hartford Consortium for
Higher Education to support an early college awareness
initiative and its Career Beginnings mentoring program.
- $133,500 national grant to the Council for Opportunity in
Education to help low-income, pre-college students develop
leadership skills and prepare for college.
Improving economic development in underserved communities
Building and preserving family assets and earning power in low-income
communities is another focal point of Travelers giving. "Homes and small
businesses represent important assets in our communities that build family
wealth, create jobs and provide earning power," said Marlene Ibsen,
president of Travelers Connecticut Foundation. "Our community development
programs will improve the economic well-being of disadvantaged citizens in
our communities." Examples of Travelers' $5 million in community
development funding programs include:
- $100,000 grant to South Arsenal Neighborhood Development
Corporation (SAND) in Hartford, Conn., to provide life skills
and job training for individuals facing barriers in the
workforce.
- $250,000 grant to Twin Cities Local Initiatives Support
Corporation to support the development of affordable housing
and commercial development in low-income neighborhoods.
- $250,000 national grant to Habitat for Humanity International
to build houses in Saint Paul, Hartford and communities across
the country.
Improving vibrancy in our communities
More than $2.6 million in arts and culture grants from Travelers helped
preserve cultural heritage and reflect our diverse communities.
"Travelers' arts and culture grants enhance academic learning and access
for low-income and underserved communities," said Pickard. Highlights of
2006 arts and culture giving include:
- $15,000 grant to the Center for Puppetry Arts in Atlanta
supports a scholarship program that allows low-income students
to visit the theater and museum.
- $85,000 grant to the Greater Hartford Arts Council to support
small and mid-sized cultural organizations and to enable high
school students to have a paid summer work experience as
apprentices in the arts.
- $325,000 in grants to COMPAS to fund community-based arts
programming in Minnesota schools and nonprofit agencies.
A complete list of grants made by Travelers and its private foundations is
available on the Web site at www.travelers.com
About Travelers
Travelers provides support for charitable organizations in the community
through Travelers Foundation and Travelers Connecticut Foundation.
Travelers (NYSE:TRV), is a leading property casualtyinsurer selling
primarily through independent agents and brokers. Travelers' community
giving remains focused on community development, education, the arts, and
culturally diverse programs. The company's employees are consistently
active in community initiatives and give thousands of hours in volunteer
time each year. For more information, visit www.travelers.com.
Copyright Business Wire 2007
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