Citigroup Makes its Presence Felt in the Community

Most of the time, a business is only relevant in the industry it belongs to. CitiGroup, however, makes their presence felt all throughout the community through corporate citizenship.

Citigroup realizes the importance of contributing to the society in which they operate. As such, Citigroup affiliates all over the world have pledged to support various good causes. This is made possible through the Citi Foundation, the company’s own charitable institution that supports economic empowerment of less-fortunate people in various communities. The company employs a “more than philanthropy” approach – an all-out campaign which involves Citi’s business resources and people to work to improve their philanthropic investments.

Citi addresses the needs of six focus areas in the community, which are: financial capability and asset building, microfinance, enterprise development, college success, youth education and livelihood and neighborhood revitalization.

In finance capability and asset building, Citi seeks to expand the financial capability of the underserved by helping them adopt positive financial behaviors and accumulate and preserve financial assets.

With microfinance, Citi supports the development of financially inclusive products supplied by microfinance institutions. This campaign then improves the financial inclusion of low to moderate-income businesses and individuals.

Enterprise development creates sustainable enterprise and jobs through the creation of employment opportunities for the same underserved demographic.

Recognizing the importance of education, Citi also builds college aspirations by removing financial barriers. This way, the youth of today can get equal opportunities to education, thus increasing their chances of financial security and success in the future.

Youth education and livelihood services increase income generation opportunities for young adults who display adequate skill. Qualified students can be employed in a minimum wage job or start their own business through this program.

Finally, neighborhood revitalization expands access to capital to strengthen communities. This program empowers the community on a macro level.

Charles Schwab Simplifies Strategic Giving

Charles Schwab has built an empire that helps people make smart decisions with their money. His company covers everything there is about financial management, such as advice on active trading, financial products, research, education, and investment.

Although much is known about Schwab and his business, only few know that this man is a philanthropist. Throughout the years, he has slowly made a name in the community for his charitable acts.

Schwab Charitable is one the largest fund-raising charities in America. It is a leading national donor-advised fund which has gathered over $5 billion for philanthropy. It also awarded more than $2 billion grants to charity, through the generosity of its donors.

Raising this amount of money and awarding it to those who most deserve it is not an easy task. To accomplish such a feat, Schwab takes a strategic, tax-smart approach to charitable giving. Schwab Charitable created the Charitable Gift Account, where contributors are awarded with income tax deductions, low-cost services, convenient management of funds, and efficient administrative services for every contribution. Donors can also directly transfer funds to the Charitable Gift Account without a hassle.

Another program of Schwab Charitable is the Double Give program. This allows donors to maximize their philanthropy by setting aside a portion of their donor-advised accounts, which will be used to guarantee loans to the world’s poorest entrepreneurs. This way, the company is also helping you build opportunities for other people.

Schwab Charitable is accessible to donors from all backgrounds. Unlike other charitable organizations, it enables donors to customize their experience and protect privacy. Technologically advanced options also allow them to manage philanthropy and charity online and seek advice from knowledgeable financial advisers and staff.

With Schwab Charitable, financial services entrepreneur Charles Schwab is at the forefront of strategic philanthropy.

Bank of West Gives Back to the Community

Bank of West, one of the six highest-rated banks in the world, has more than $60 billion in assets and more than 700 banking locations in 19 states across America. Countless private individuals and small to large-scale businesses have entrusted money to this bank during its 135years of existence.

To give back to the community that strengthened its foundation, the Bank of West has pledged to support non-profit organizations that aim to improve the lives of low and average income individuals and communities. They also sponsor events that promote synergy and harmony in the neighborhoods and communities.

Charitable giving categories include civic and cultural, education and job training, health and human care, and community and economic development. Funding and investment requests are based on the non-profit organizations eligibility, as stipulated in the bank’s charitable giving criteria. To qualify, recipient organizations must serve the bank’s geographic areas, fit within their charitable giving categories, provide equal opportunities as an employer, be governed by a board of directors and have systematic administrative and financial operations.

As much as the bank would like to help all charitable organizations in every community, these standards must be implemented to maintain realistic goals for community development. Still, the Bank of West’s Charitable Investments Program makes every effort to assist all eligible non-profit organizations to the best of it's capability. They also celebrate the achievements of non-profit organizations by holding the annual Philanthropy Awards. This event showcases the excellence of these organizations in creating innovative solutions in the community.

In 2009, the Bank of West provided more than 2,000 grants to community organizations. In order to reach more organizations, the Bank of West introduced the online charitable grants system, which makes it easier for non-profit organizations to apply for charitable investments.

To this day, the Bank of West continues to make a difference by investing in non-profit organizations.

BB&T Bank Shares Fortune to Charity

BB&T is a leader in the financial services industry that prides itself for its stature and longevity. The company has continued to build a tradition of excellence in community banking since 1872, and it remains to be one of the oldest and most trusted institutions in the industry. For over a century, BB&T has provided lending, insurance, trust, and wealth management solutions to its loyal clients.

Aside from providing these financial services, BB&T is also known for its contributions to  the community. The company considers corporate social responsibility as one of its priorities – for BB&T, this is a way of returning what society has given to them.

One of  BB&T's programs in community development is the Capacity Building Training Program. The program facilitates improvement in the local community by allowing participants to form new partnerships and generate ideas for community involvement. Participants are also taught how to identify needs related to affordable housing and economic development. Planning, however, is just the first step. To execute their plan, the participants are grouped into subcommittees to develop feasible strategies to accomplish the specific goals and objectives. BB&T is with them every step of the way to assure that the community development plan will be implemented.

The company also offers community lending to support the credit-needs of the communities they serve. Last year, their Community Development lending reached $701.3 million – a big increase from 2009’s $584.7 million. To raise such large sums, BB&T has aligned with McDonald's to raise money for charity. The company has had several partners from various industries in order to fulfill a common goal.

BB&T also reaches out to the Hispanic community, the largest minority group in the country. They are committed to partnering with key Hispanic organizations to welcome them and provide needs to their growing community.

With all these concrete contributions to society, BB&T Bank takes the lead in corporate responsibility.

Risks of Prematurity

Premature birth can present significant, lifelong problems for babies born before they have reached full gestation. Thanks to the aid of concerned, everyday people like Ashok Bagdy, the March of Dimes Foundation can protect babies from preterm birth through maternal education, as well as to provide support when babies are born prematurely.

A full-term pregnancy lasts 37 to 42 weeks. Babies need this long in the womb in order to develop important neurological and pulmonary systems. Because of supporters like Ashok Bagdy who help raise awareness, the general public can learn that infants born before 37 weeks may be subject to long-term health consequences, including an increased risk of learning and attention disabilities, lung problems, vision and hearing loss, behavioral issues, sudden infant death, and cerebral palsy. The earlier a baby is born, the greater the chance of developing any of these difficulties.

The education that the March of Dimes supplies to mothers-to-be is important because certain lifestyle factors increase the risk of preterm labor. These factors include receiving prenatal care late in the term or not at all. Smoking, alcohol, illegal drug use, medication intake, domestic violence, high stress, extended periods of standing while working, exposure to environmental toxins, and lack of social support can also increase risk of premature birth.

Along with providing educational information and support to parents and families, the March of Dimes also offers research grants to scientists seeking a better understanding of preterm labor prevention. Ashok Bagdy, and thousands more like him, support each of these missions because they believe all babies deserve a chance at a healthy, happy life.

Bank of America's Philanthropy

photo via Brian Katt

The goal of the Bank of America is to invest in communities and the economy – they believe that new funding helps fuel opportunities. Their business, which spans more than 200 years, is an assemblage of American financial institutions that has shaped the economy of the country in terms of industry, infrastructure, and individual development. But as one of the shapers of the entire nation, the bank decided to go beyond the limitations of their business to fulfill their goal.

The Bank of America is not only a giant in the financial services industry, but also an admired trustee or co-trustee to a wide variety of charitable foundations. The bank has a philanthropic management group – a faction dedicated only to the fulfillment of charitable intent for the non-profit community.

This Fortune 500 Company caters to the needs of various programs such as community improvement and capacity building, education, employment, environment, health, human services and medical research.  One of their programs is the Charitable Gift Fund, which is a donor-advised fund that gives their clients a flexible and convenient way of supporting their personal causes. With this program, the Bank of America extends their commitment to clients who are willing to help.

When a client signs up for a donor-advised fund, he or she can avail the following benefits: receive current-year income tax deduction, make grand recommendations and donate assets sans capital gains taxes. Opening an account requires a $5,000 initial contribution. The bank then provides the client with a financial adviser to help him or her manage the charity.

The Bank of America also gives clients the option to open their own private foundation. A client’s philanthropy is supported by a broad range of customized services provided by the bank, thus helping him or her take an active role in charity.

By building a charitable network of clients, the Bank of America becomes an admirable leader in the financial services industry.

American Express' Charitable Giving

American Express is the world’s largest card issuer, processing thousands of transactions daily. It also helps small businesses succeed by providing them purchasing power and financial control. This Fortune 500 Company offers commercial payment tools that aid individuals and companies in controlling their spending and saving money to pursue ventures.

As one of the most innovative companies in the financial services industry, American Express continues to think of ways to improve their services – not only to their clients but also to the community. As a way of giving back, the financial services institution created programs that encourage community service and engagement. They do this by supporting organizations that cultivate meaningful opportunities for civic engagement, and by providing immediate support and relief to help victims of natural disasters.

One of their recent grants was awarded to the Asian Women’s Welfare Association (AWWA) in Singapore. This organization provides shelter and rehabilitation to over 100 seniors lacking financial or familiar support. American Express’ funding made possible the improvements in the living conditions of the residents, uplifting their morale.

AWWA is just one among thousands of non-profit organizations that American Express supports. There are many other unnamed benefactors of their charitable giving, realized through the use of any American Express card. This new innovation in their system allows clients to make charitable donations with every credit card swipe.  It works this way: every credit card purchase is rounded up to the nearest dollar, and the additional change added to the charge is donated to a charity the client has chosen. A passive cycle of charitable giving is fostered through this method.

Clients can also purchase charity certificates from American Express. Charity certificates are a gift people can send to anyone all over the world. This gift not only benefits others but you as well. Every tax benefit purchase is tax deductible to you to the extent allowed by the law.

American Express is one of the best partners you can have when giving to charity.

Ashok Bagdy Supports the Ekal Vidyalaya Foundation

A resident of Tampa, Florida, Ashok Bagdy serves as Vice President of Outsourcing Services for Cameo Corporate Services Limited, a business process outsourcing company headquartered in Chennai, India. Mr. Bagdy, who received a Bachelor of Commerce from Madras University and a Master of Business Administration from Bharathiar University, maintains a deep interest in the opportunities available to the people of India. In order to improve access to education, health care, and other resources in rural India, Ashok Bagdy supports the efforts of the Ekal Vidyalaya Foundation.

Members of the Ekal Vidyalaya Foundation note that while India continues to make great strides in fields such as technology and nuclear power, many Indian citizens still struggle with core skills and concerns such as literacy. The Ekal Vidyalaya Foundation and generous donors like Ashok Bagdy aim to erase illiteracy in India, currently at 65.4 percent in rural and tribal areas, by 2015. Though the Ekal Vidyalaya Foundation's goal may seem intimidating, the charity possesses the numbers to see its mission through: 34,343 teachers, 22 field organizations, 8 support agencies, roughly 6,000 volunteers and thousands of supporters such as Ashok Bagdy. Together, these individuals and entities form a powerful network that advocates literacy and self-empowerment through one-teacher schoolhouses all across India.

Thanks largely to the Ekal Vidyalaya Foundation's robust network of contributors, its program has become the country's dominant education movement. But the Ekal Vidyalaya Foundation sees achieving basic literacy for India as only the beginning. The next step is to teach rural communities the skills they need to seek greater development and political influence. To achieve that goal, the Ekal Vidyalaya Foundation must become even stronger. Visit Ekal.org to learn more about this powerful educational movement.

What do Sesame Street and Andrew Carnegie have in Common?

Do you remember watching the credits roll after your daily dose of Sesame Street? When they would announce the sponsors who made the show possible along with the Children’s Television Workshop — now known as the Sesame Workshop? In the list of names is the Carnegie Foundation, founded by Andrew Carnegie. 

Andrew Carnegie was born in Scotland in 1835 and migrated to America in 1848 with his family. He became an amazing entrepreneur, businessman, and philanthropist. Starting as a millworker in a bobbin factory, then landing a job as a telegraph messenger boy, he learned the value of hard work and networking. When a man in his Allegheny, Pennsylvania community opened up his personal library to working boys, Carnegie grew intellectually and came to value a strong educational foundation.

Carnegie amassed his wealth by investing in railroads, iron, and bridges. He then founded the Carnegie Steel Company; which, after a good run, he sold to J.P.Morgan, who formed the United States Steel Corporation. This transaction was the largest-ever personal commercial transaction and equivalent to $13.7 billion in today’s prices. After John D. Rockefeller, Andrew Carnegie became the second richest man in the world.

Soon after the buyout, Carnegie’s focus turned to philanthropic efforts; and he immediately ensured there would be free public libraries in New York. In 1911 the Carnegie Corporation of New York was established “to promote the advancement and diffusion of knowledge and understanding.” It is this foundation that helped establish the Sesame Workshop.  

The Carnegie Corporation of New York is celebrating its one hundredth anniversary this year. Even though it seems Maria and Luis never age, they really do. Sesame Street is in its forty second season! Thank you, Mr. Carnegie!

Tiffany’s Blue Mission

When we see or hear the words “little blue box”, chances are that one thing comes to mind: the jewelry boxes used by Tiffany & Co., a world class jeweler that has set the standard for engagement rings. Since its inception in 1837, Tiffany & Co. has been known for its fine jewelry’s signature style.

Lately, the Tiffany & Co. Foundation has been making a mission out of its signature color, Mission Blue to be exact. Mission Blue was a TED Prize wish made by Sylvia Earle “to ignite public support for a global network of marine protected areas, hope spots large enough to save and restore the ocean, the blue heart of the planet.” Sylvia’s rousing speech at TED ignited overwhelming interest into what would become an excursion of ideas. Mission Blue managed to raise $15 million for the good of our environment.

This is not the only mission for the Tiffany & Co. Foundation. In 2000, Tiffany established the foundation in order to concentrate its philanthropic efforts in two main areas of concern: the environment and the arts. Since saving the coral reefs has historically been a focus for the foundation, Mission Blue’s efforts fit right into this niche.

Tiffany’s philanthropic efforts began where its business was founded, mining. The foundation contributes funds to organizations that practice responsible mining and to ensure surrounding communities enjoy economic and social development as a result. Tiffany & Co. states that they are “guided by the belief that a successful company has a responsibility to the greater community.”

The Million Moms Challenge

“Be the Change: Save a Life”, a year-long spotlight series on global health issues partially sponsored by the Bill and Melinda Gates Foundation and broadcast by ABC News has now launched the Million Moms Challenge.

In collaboration with the United Nations, the Million Moms Challenge is bringing light to the staggering statistics surrounding children’s health, childbirth, and pregnancy issues in developing nations. For example: did you know that a woman dies every ninety seconds during pregnancy, or that eight million children under the age of five die each year from largely preventable diseases?

There are several ways to get involved in the Challenge to bring about much needed awareness to these crucial issues. You don’t have to be a mom yourself in order to be involved. Simply start by logging on to the website, MillionMomsChallenge.com. When the first 100,000 participants sign up, baby product giant, Johnson & Johnson, will donate $100,000 to several non-governmental agencies (NGO) that help moms and babies survive and thrive.

You can also make donations directly, tweet to raise awareness, or even donate your old cell phone to raise funds. These NGOs then use the funds to provide vaccines imperative for children to survive their first year and to educate both mothers and midwives on proper health and nutrition, and aspects of safe and healthy deliveries.

You can wear your support with a sterling silver necklace manufactured by single American moms of American MoJo, a socially responsible apparel company. $Ten dollars of the twenty-five dollar list price goes overseas, and the rest is contributed to the Million Moms Challenge. A win-win-win!