Ameriprise Financial and Feeding America® Join Forces to Help Provide Meals This Holiday Season

Rhea-AI Summary

Ameriprise Financial is partnering with Feeding America for the 15th consecutive year to provide meals during the holiday season. On Nov. 14, over 3,100 employees, advisors, and clients will volunteer at food banks nationwide as part of the firm's National Day of Service. Volunteers have contributed 400,000 hours to hunger relief since the program's inception. Additionally, Ameriprise is donating nearly $b>$2.8 million in grants to 121 nonprofits across the country, focusing on basic needs, community support, and volunteer impact amplification. The company has donated a total of $4.7 million and supported over 200 nonprofits through its two grant cycles in 2024.

Positive

• Donated $2.8 million in grants to 121 nonprofits
• Total donations of $4.7 million supporting over 200 nonprofits in 2024
• Strong community engagement with 3,100 volunteers participating

Negative

• None.

Insights

Financial Analyst

The $2.8 million grant allocation by Ameriprise Financial (AMP) represents a strategic investment in corporate social responsibility, though the financial impact is minimal relative to the company's market capitalization of $53.2 billion. The initiative enhances brand value and customer loyalty through community engagement, potentially supporting client retention and acquisition in their wealth management business. The 15-year partnership with Feeding America demonstrates consistent long-term commitment to social causes, which increasingly influences investor ESG considerations.

The broader grant distribution across 121 nonprofits and total charitable giving of $4.7 million in 2024 reflects a well-diversified community investment strategy. While these initiatives contribute positively to corporate reputation and stakeholder relationships, the financial outlay is immaterial to AMP's overall financial position and unlikely to significantly impact stock performance.

Ameriprise also donated nearly $2.8 million in grants to support individuals, families and communities

MINNEAPOLIS--(BUSINESS WIRE)-- For the 15th consecutive year, Ameriprise Financial is partnering with Feeding America^®, the nation’s leading domestic hunger-relief organization, to help provide meals for families and individuals ahead of the holiday season. On Nov. 14, more than 3,100 of the firm’s employees, advisors and clients will volunteer at Feeding America-partner food banks and other hunger-relief nonprofits across the country to serve meals, sort bulk food donations, stock shelves and host food drives to make a collective impact. The event is part of the firm’s National Day of Service, which the company organizes each year to help people experiencing hunger in communities across the country. Ameriprise volunteers have dedicated 400,000 hours toward hunger relief since the inception of the firm’s National Days of Service.

“As we mark our 15^th consecutive National Day of Service, we’re reminded of the ongoing need for hunger relief in communities across the country,” said Jennifer Jones, head of Community Relations at Ameriprise. “Not having regular access to nutritious food impacts an individual’s health and overall well-being. Through our partnership with Feeding America and the commitment of our employees, advisors, and clients, we’re dedicated to addressing food insecurity and making a meaningful difference for individuals and families in need this holiday season, and all year-round.”

Ameriprise Gives Nearly $2.8 Million in Grants to Nonprofits

Along with its nationwide volunteer events, Ameriprise is also donating nearly $2.8 million in grants to 121 nonprofits across the country as part of the firm’s ongoing corporate giving. Ameriprise focuses on three key giving areas when awarding grants: meeting basic needs, supporting vibrant communities, and amplifying the impact of the firm’s volunteers. In total, the company has donated nearly $4.7 million and supported more than 200 nonprofits through its two grant cycles in 2024. Recent grant recipients include:

• Feeding Northeast Florida uses food as a catalyst to build stronger lives and communities. Since 2014, they’ve remained committed to fighting hunger, distributing over 34.6 million pounds (equivalent to 28 million meals) of food last year alone, a record for the organization. Partnering with more than 495 agencies, they deliver nourishment across twelve counties, rescuing food from hundreds of retail, farm and manufacturing partners each day. In addition, Feeding Northeast Florida is part of a robust disaster response team that played a vital role in recent hurricane relief efforts by delivering essential food, water and supplies throughout the state.

• The Partnership To End Homelessness helps New Yorkers on the verge of homelessness to remain stably housed by providing a variety of services, with a focus on prevention. The Partnership offers housing and eviction prevention programming, including rental and financial assistance, crisis intervention services and health and well-being programs.

• Hired advances employment equity and economic opportunity for workers in the Twin Cities through individualized employment and career services. Their programs provide career training and educational opportunities focused on developing in-demand skills. Hired also supports job seekers in eliminating barriers to starting and retaining jobs with family sustaining wages, benefits and opportunities for advancement, including financial wellness, digital skill building and more. Hired partners with employers committed to inclusive workplaces, creating a more prosperous future for the entire community.

• Harvey B. Gantt Center for African-American Arts+Culture is a multi-disciplinary arts institution in the heart of Charlotte, North Carolina. The Gantt preserves and promotes African American and African diasporic art and culture through music, dance, theatre, visual art, film, literature and community outreach. 2024 marks the Gantt Golden Year, celebrating fifty years of world-class exhibitions, programs and education.

About Ameriprise Financial

At Ameriprise Financial, we have been helping people feel confident about their financial future for 130 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors¹, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.

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 grants, volunteerism and employee and advisor gift matching programs, the company supports a diverse group of over 7,500 nonprofits across the country. The company also has a longstanding commitment to volunteerism. Each year, the firm’s employees are eligible for the eight hours of paid time off to volunteer. In 2023, Ameriprise volunteers collectively contributed nearly 63,000 hours to nonprofits in communities across the country.

About Feeding America

Feeding America is committed to an America where no one is hungry. We support tens of millions of people who experience food insecurity to get the food and resources they say they need to thrive as part of a nationwide network of food banks, statewide food bank associations, food pantries and meal programs. We also invest in innovative solutions to increase equitable access to nutritious food, advocate for legislation that improves food security and work to address factors that impact food security, such as health, cost of living and employment.

We partner with people experiencing food insecurity, policymakers, organizations, and supporters, united with them in a movement to end hunger. Visit FeedingAmerica.org to learn more.

¹ Ameriprise Financial Q2 2024 Earnings Release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241113969247/en/

Allison Harries, Media Relations

612.678.7035

Allison.H.Harries@ampf.com

Source: Ameriprise Financial

FAQ

How much did Ameriprise Financial (AMP) donate in grants in their latest initiative?

Ameriprise Financial donated nearly $2.8 million in grants to 121 nonprofits across the country in their latest initiative.

How many volunteer hours has Ameriprise Financial (AMP) dedicated to hunger relief through National Days of Service?

Ameriprise Financial volunteers have dedicated 400,000 hours toward hunger relief since the inception of the firm's National Days of Service.

What is Ameriprise Financial's (AMP) total donation amount across both grant cycles in 2024?

Ameriprise Financial has donated nearly $4.7 million and supported more than 200 nonprofits through its two grant cycles in 2024.