Ameriprise Financial, Along with its Employees and Advisors, Gave More than $17.4 Million in Community Donations in 2022

Rhea-AI Summary

Ameriprise Financial (NYSE: AMP) announced a donation of over $17.4 million in 2022, supporting nonprofits focused on domestic hunger relief, homelessness, and financial education. Their initiatives included funding 234 grants aimed at meeting basic needs and enhancing community equity. Employees logged nearly 64,000 volunteer hours, reinforcing a commitment to social responsibility. Noteworthy partnerships include a long-term collaboration with Feeding America, through which over 115 million meals have been provided. Additionally, Ameriprise Bank made a $4 million investment in affordable housing development in the Minneapolis/St. Paul area.

Positive

• Donation of over $17.4 million aimed at combating domestic hunger and homelessness.
• 234 grants funded to support basic needs and community development.
• Employees contributed nearly 64,000 volunteer hours, indicating strong community engagement.
• Long-term partnership with Feeding America, providing over 115 million meals.
• Ameriprise Bank's $4 million investment in affordable housing to support low-income residents.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Ameriprise Financial, Inc. (NYSE: AMP), along with its employees and advisors, donated more than $17.4 million through corporate and individual donations and gift matching in 2022. Continuing its longstanding commitment to helping individuals meet their basic needs, the firm focused on funding nonprofits working to solve domestic hunger, end homelessness and increase adult self-sufficiency through financial education and job training programs. Throughout the year, Ameriprise employees and advisors supported causes they care about by logging nearly 64,000 volunteer hours. In addition, the company deepened its 13-year partnership with Feeding America, through which more than 115 million meals have been provided to people in need.

“Nonprofits faced a fresh set of challenges in 2022 – notably inflation, supply chain issues and a tight labor market. At the same time, demand for their services surged as people facing hardships leaned on them for support,” said Brian Pietsch, head of community relations at Ameriprise. “This ‘perfect storm’ makes our longstanding commitment to the nonprofit community more important than ever. Our employees and advisors share our passion for giving back, and we’re pleased to make a collective impact in order to support these amazing nonprofits.”

Highlights from Ameriprise’s 2022 grant funding

Ameriprise funded 234 grants focused on helping people meet basic needs like food and shelter and building equitable communities. A few highlights include:

• Metropolitan Consortium of Community Developers is a Twin Cities association of nonprofit community development organizations committed to expanding the wealth and resources of neighborhoods in the Minneapolis/St. Paul area. Their Open to Business program provides technical assistance and lending to entrepreneurs who are members of underserved populations and/or operate businesses in underserved communities.
• Breaking Ground, a New York City nonprofit, strengthens individuals, families and communities by developing and sustaining supportive and affordable housing as well as programs for homeless and other vulnerable New Yorkers.
• Breaktime United, Inc. is a Massachusetts based nonprofit working to break the cycle of homelessness. Their unique model enables young adults to access high-quality, in demand job opportunities while providing them with the skills, financial knowledge and support necessary to acquire long-term, stable housing.
• The Mustard Seed of Central Florida helps rebuild the lives of families and individuals who have suffered disaster or personal tragedy by providing household furnishings and clothing. Each week, the organization helps 30 families in the Central Florida community, including those recovering from the devastating effects of Hurricane Ian.
• Mission Economic Development Agency a community development organization located in San Francisco, works to build economically thriving neighborhoods that can support low and moderate-income Latino families. The organization’s goals are to promote economic equity and social justice through asset building, housing, lending, education and workforce development services.

Ameriprise Bank, FSB invests in the Minneapolis/St. Paul area

In 2022, Ameriprise Bank, FSB, in accordance with the Community Reinvestment Act (CRA) continued to make grants and investments to support affordable housing, social services and economic and workforce development across the Minneapolis/St. Paul region, its designated CRA assessment area. The Bank made a $4 million Equity Equivalent Investment (EQ2) in Aeon, one of the leading nonprofit developers, owners and managers of affordable housing in the Twin Cities, serving approximately 17,000 low-income residents annually. This investment will help Aeon be competitive with for-profit developers in acquiring NOAH (Naturally Occurring Affordable Housing) properties and keeping them perpetually affordable, as well as providing Aeon with long-term flexible capital for additional affordable housing development and preservation.

About Ameriprise Financial Community Relations

Ameriprise Financial is dedicated to utilizing the firm’s resources and talents to improve the lives of individuals and build strong communities. Through grantmaking, volunteerism and employee and advisor gift matching programs, the company supports a diverse group of more than 7,500 nonprofits across the country. By targeting our grantmaking, the company can make the most of its resources and engage its people to make a collective impact with greater benefit for communities. Ameriprise funds grants to local nonprofits twice annually—the next deadline is May 15 and guidelines are available on the firm’s website.

About Ameriprise Financial

At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 125 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.

© 2023 Ameriprise Financial, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005579/en/

Alison Mueller, Media Relations

612.678.7183

alison.g.mueller@ampf.com

Source: Ameriprise Financial, Inc.

FAQ

What was the total donation amount by Ameriprise Financial in 2022?

Ameriprise Financial donated over $17.4 million in 2022.

How many grants did Ameriprise Financial fund in 2022?

In 2022, Ameriprise Financial funded 234 grants.

What initiatives did Ameriprise Financial support in 2022?

Ameriprise Financial focused on combating domestic hunger, homelessness, and providing financial education.

How many volunteer hours did Ameriprise employees contribute in 2022?

Ameriprise employees logged nearly 64,000 volunteer hours in 2022.

What is the significance of Ameriprise's partnership with Feeding America?

The partnership has provided over 115 million meals to those in need.

What investment did Ameriprise Bank make in 2022 for affordable housing?

Ameriprise Bank made a $4 million investment in affordable housing development.