Jackson Awards $775,000 in Grants to Nonprofits Across Lansing, Nashville and Chicago

Rhea-AI Summary

Jackson National Life Insurance Company awarded $775,000 in grants to nonprofits in Lansing, Nashville, and Chicago. These funds aim to provide financial services, savings practices, debt reduction, and access to Veterans services, tax filing assistance, and financial literacy training. Notable recipients include Haven House in Lansing, which supports homeless families, Operation Stand Down Tennessee in Nashville, aiding Veterans, and Ladder Up in Chicago, offering financial resources and tax preparation. Jackson has contributed over $85 million to nonprofits since 2007 and associates volunteered nearly 21,000 hours in 2023.

Positive

• Jackson awarded $775,000 in grants to nonprofits in key cities.
• Grants support financial services, savings, debt reduction, and Veterans services.
• Jackson contributed over $85 million to nonprofits since 2007.
• Jackson associates volunteered nearly 21,000 hours in 2023.
• Haven House in Lansing helps homeless families achieve stability.
• Operation Stand Down Tennessee offers comprehensive support to Veterans.
• Ladder Up in Chicago provides free financial resources and tax assistance.

Negative

• No direct financial benefit to Jackson's shareholders from these grants.
• Grant amounts may be considered insufficient relative to broader community needs.
• Possible perception of public relations exercise rather than impactful philanthropy.
• No immediate boost to Jackson's business or stock performance.

LANSING, Mich.--(BUSINESS WIRE)-- Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc.ⁱ (NYSE: JXN), today announced it has awarded $775,000 to nonprofits serving the communities where Jackson has offices: Lansing, Michigan; Nashville, Tennessee; and Chicago, Illinois. These funds will support the ability for nonprofit clients to obtain affordable financial services, establish savings practices, and prioritize reducing debt, as well as provide access to comprehensive Veterans services, tax filing assistance and financial literacy training.

“Nonprofits play a vital role in creating strong and flourishing communities. They promote civic engagement and leadership, propel economic growth and improve the places where Jackson associates live and work,” said Danielle Robinson, Vice President, Corporate Communications and Responsibility at Jackson. “We are honored to support the important work these grant recipients do every day to strengthen families and create economic opportunities.”

Among the deserving recipients in the Lansing area is Haven House, whose mission is to guide and support families who face homelessness. Since 1983, the organization has provided temporary shelter for homeless families, and basic needs such as shelter, food, clothing and personal items. Today, Haven House also has programs to support families after they have entered permanent housing and utilize tactics to further stabilize the family’s housing and finances. Through their Budget Boost program, Haven House has reduced the return to homelessness among their clients.

“This grant from Jackson will allow us to set families up for success during their first year in housing after a stay in our shelter,” said Meghan Palma, Interim Executive Director at Haven House. “Over the next year, we will be utilizing these funds to help our families achieve greater stability and economic self-sufficiency so they can maintain housing and avoid a return to homelessness in the future. Thank you, Jackson!”

Jackson is also honored to support several Nashville-based nonprofits, including Operation Stand Down Tennessee whose mission is to support Veterans and their families of all military branches, eras of service and circumstances. As the only comprehensive Veteran-serving agency in middle Tennessee, this organization connects clients with career opportunities, community resources and crisis services. Assistance includes navigating the federal Department of Veterans Affairs, peer engagement and volunteer opportunities, resume and interview support, employer connections and networking events. Crisis support such as transitional housing, financial assistance, mental health referrals and access to food programs is also available.

“Operation Stand Down Tennessee is honored to partner with Jackson as we work together to address critical Veteran food insecurity in Middle Tennessee,” said Eden Murrie, Chief Executive Officer at Operation Stand Down Tennessee. “Operation Commissary was designed specifically to reach Veterans who are unlikely to use a traditional food pantry. The support of Jackson volunteers and grant funding will help us serve hundreds of Veteran households in 2024.”

In Chicago, Jackson’s grants will support several organizations including Ladder Up, which provides free financial resources to help clients secure the opportunities they need to move up the economic ladder. The organization offers free tax preparation, tax assistance through a legal tax clinic, financial aid support for clients to attend college and financial literacy training. Established in 1994 by a local business analyst who saw an opportunity to help hardworking, underserved area families secure unclaimed tax credits, the nonprofit has since grown into an organization that has served 750,000 clients with $1.42 billion returned to clients.

“We are grateful for Jackson’s partnership and support,” said Phyllis Cavallone-Jurek, Executive Director at Ladder Up. “This collaboration will enhance our efforts to empower the Chicago community by expanding and strengthening our financial capability programs for low-income families and individuals in need.”

Jackson’s biannual grant program is a critical component of its corporate philanthropy efforts. Nonprofit organizations in the Lansing, Chicago or Nashville areas interested in applying for a grant from Jackson are encouraged to submit an application for consideration by visiting the company’s website. Jackson has contributed more than $85 million to nonprofits since 2007 and Jackson associates volunteered nearly 21,000 hours in 2023 with nonprofits nationwide.

ABOUT JACKSON

Jackson® (NYSE: JXN) is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Through our range of annuity products, financial know-how, history of award-winning service* and streamlined experiences, we strive to reduce the confusion that complicates retirement planning. We take a balanced, long-term approach to responsibly serving all our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community partners. We believe by providing clarity for all today, we can help drive better outcomes for tomorrow. For more information, visit www.jackson.com.

*SQM (Service Quality Measurement Group) Contact Center Awards Program for 2004 and 2006-2023, for the financial services industry (to achieve world-class certification, 80% or more of call-center customers surveyed must have rated their experience as very satisfied, the highest rating possible).

Jackson® is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company® (Home Office: Lansing, Michigan) and Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York).

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i Jackson Financial Inc. is a U.S. holding company and the direct parent of Jackson Holdings LLC (JHLLC). The wholly-owned direct and indirect subsidiaries of JHLLC include Jackson National Life Insurance Company, Brooke Life Insurance Company, PPM America, Inc. and Jackson National Asset Management, LLC.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612029665/en/

Patrick Rich

patrick.rich@jackson.com

Source: Jackson Financial Inc.

FAQ

What amount did Jackson National Life Insurance award in grants?

Jackson National Life Insurance awarded $775,000 in grants.

Which cities benefited from Jackson's recent grants?

Lansing, Michigan; Nashville, Tennessee; and Chicago, Illinois benefited from the grants.

What is the purpose of Jackson's grants to nonprofits?

The grants aim to provide financial services, promote savings, reduce debt, and support Veterans and financial literacy.

How much has Jackson contributed to nonprofits since 2007?

Jackson has contributed over $85 million to nonprofits since 2007.

Which nonprofit in Lansing received a grant from Jackson?

Haven House in Lansing received a grant to support homeless families.

What services does Operation Stand Down Tennessee provide?

Operation Stand Down Tennessee supports Veterans with career opportunities, crisis services, and food programs.

What organization in Chicago benefited from Jackson's grant?

Ladder Up in Chicago, which provides financial resources and tax assistance, benefited from the grant.