Submitted by Prudential Financial, Inc.
5,169 projects around the globe. As part of this year's campaign, an expected 34,000 volunteers will complete about 900 projects in more than 15 countries.
"Prudential Financial employees have a long history of helping those in need," said Arthur F. Ryan, chairman and CEO of Prudential Financial. "Each year I've been impressed by the compassion, dedication, and overwhelming sense of community Prudential employees and affiliates demonstrate. Now more than ever, the responsibility for Corporate America to help our communities in need is critical. It's not only the right thing to do, but our employees, investors, customers, and shareholders also expect it. I'm proud that our employees have always embraced that challenge and are leading the charge in their communities."
Prudential's first Global Volunteer Day, formerly known as National Volunteer Day, was held on October 28, 1995. Starting with 5,000 employees participating in 100 projects, the daylong celebration has grown to include the participation of more than 34,000 volunteers at more than 900 locations in 15 countries. Over the last decade more than one million hours of personal time has been committed to this annual effort. Based on the 2005 hourly value of volunteer time from the Points of Light Foundation at $17.75, Prudential's employee efforts will have exceeded a cumulative value of $20.5 million.
"The dedication, creativity, and leadership of our volunteers has made Global Volunteer Day an extraordinarily impactful community service initiative," said Gabriella Morris, vice president of Community Resources for Prudential and president of The Prudential Foundation. "For the last decade, our volunteers have ensured that we worked with organizations addressing the most pressing needs in our communities."
Global Volunteer Day includes all forms of community service, from rebuilding a home for an elderly neighbor to preparing meals at shelters for those impacted by natural disasters. During Global Volunteer Day, projects that meet selected criteria earn a $1,000 Challenge Grant provided by The Prudential Foundation to the partnering non-profit organization. To date, 1,404 projects have earned Challenge Grants totaling more than $1.4 million in grants given to partnering organizations. This year, The Prudential Foundation will donate $20 for each Global Volunteer Day hour of service, up to $100,000, to the Prudential CARES Disaster Relief Fund to help those impacted by the Hurricane Katrina.
Prudential Financial companies, with approximately $511 billion in total assets under management as of June 30, 2005, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises, and relocation services. For more information, visit www.prudential.com.
Copyright Business Wire 2005
Prudential Financial companies, with approximately $568 billion in total assets under management as of June 30, 2006, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement-related services and administration, asset management, banking and trust services, real estate brokerage franchises, relocation services and, through a joint venture, retail securities brokerage services.
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