Radian CEO Rick Thornberry Joins the MBA Opens Doors Foundation Board of Directors

Rhea-AI Summary

Radian Group Inc. (NYSE:RDN) announced that CEO Rick Thornberry has joined the Board of Directors of the Opens Doors Foundation, supporting families with critically ill children. Radian has a history of backing charitable initiatives, contributing $400,000 to partner with the Children’s Hospital of Philadelphia and raising significant funds through various campaigns. Thornberry aims to further Radian's commitment to homeownership and community support. The company encourages employee involvement in charity through its Corporate Citizenship Program, reinforcing its community commitment.

Positive

• Rick Thornberry's appointment to the Opens Doors Foundation board may enhance Radian's community relations.
• Continued financial support for Opens Doors and Children’s Hospital of Philadelphia reflects Radian's commitment to social responsibility.
• Strong fundraising results through company initiatives demonstrate effective engagement in charitable causes.

Negative

• None.

Board Membership Mirrors Radian’s Longstanding Commitment to Protecting and Preserving the American Dream of Homeownership

WAYNE, Pa.--(BUSINESS WIRE)-- Radian Group Inc. (NYSE:RDN) today announced that its Chief Executive Officer Rick Thornberry has joined the Board of Directors of the Mortgage Bankers Association (MBA) Opens Doors Foundation, which helps families with critically ill or injured children afford their rent or mortgage payments while their children are in treatment. Radian is a longstanding supporter of the Opens Doors Foundation and other charitable causes, and each year backs a range of nonprofits through charitable contributions, a matching gifts program for employees, fundraising drives and community-based volunteer work.

Rick Thornberry, CEO, Radian (Photo: Business Wire)

“I am honored to join the board of Opens Doors, which provides invaluable support for families when they need it the most,” said Thornberry. “Radian is deeply committed to protecting and ensuring the American dream of homeownership and Opens Doors’ important work also helps accomplish that mission. Radian looks forward to further supporting their efforts in the years to come.”

In 2019, Radian helped Opens Doors launch an alliance with the Children’s Hospital of Philadelphia (CHOP), and made a $400,000 commitment over four years to fund the partnership. With more than 560 in-patient beds and more than one million patient visits a year; CHOP has become one of Opens Doors’ largest network hospitals.

Radian has held special fundraising campaigns for the past several years during the MBA Annual Convention in support of the Opens Doors Foundation, encouraging donations through creative social media challenges and auctions. In 2020, the Opens Doors Foundation received $166,000 as a result of Radian’s Everyday Heroes Challenge, and in 2021, Radian generated $171,000 in donations through its Opens Doors, Opens Hearts campaign.

“On behalf of the entire Opens Doors Foundation team, we warmly welcome Rick to our board, and look forward to his perspective on how we can continue to deliver on our mission and reach populations in need of housing assistance,” said MBA Opens Doors Foundation President Deborah Dubois. “Rick embodies the true spirit of an Opens Doors champion and brings insight, experience and passion to our organization as we continue to make it easier for families with critically ill or injured children struggling to make their housing payments.”

For more than 10 years, Radian has been a lead sponsor of Concert MBA, a benefit concert and auction for the Opens Doors Foundation that has brought artists including Keith Urban, Kelly Clarkson, John Legend, James Taylor, Sheryl Crow, and OneRepublic to the Annual MBA Convention.

Radian’s Corporate Citizenship Program

Radian’s Corporate Citizenship Program was developed to encourage and support the generosity and community involvement of its employees. Since its inception, the program – through both company and employee contributions – has provided significant financial support to charities across the country. The program consists of three components:

• Corporate Contributions– Charitable contributions made by Radian to non-profit organizations, which include direct corporate contributions and sponsorship of charitable events.
• Matching Gifts – Charitable contributions made by Radian to a non-profit organization that mirror donations made by employees to the same organization.
• Community connection – Radian’s community-based program, Radian Connected, offers employees an opportunity to serve their local communities through volunteerism.

In 2020, to help alleviate challenges generated by the COVID-19 pandemic, Radian increased the cap on eligible individual contributions and doubled its matching gift program, while also passing along some of the savings from reduced travel and entertainment expenses to organizations supporting essential workers.

Since 2019, in addition to the Opens Doors Foundation, Radian has made significant charitable corporate contributions to the Center for Disaster Philanthropy, the Gary Sinise Foundation, Toys for Tots, The Human Rights Campaign and UNICEF USA among other organizations.

Radian’s commitment to charitable work is a component of its broader Corporate Responsibility Program, which focuses on supporting the company’s commitment to environmental, health and safety, corporate social responsibility, corporate governance, equity, sustainability and other public policy matters relevant to the company and its operations. This program aligns with Radian’s company-wide commitments to continue to be responsible corporate citizens with a positive impact in the community and with the people it serves.

About Radian

Radian Group Inc. (NYSE: RDN) is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit www.radian.com to learn more about how Radian is shaping the future of mortgage and real estate services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220112005164/en/

For Investors:

John Damian - Phone: 215.231.1383

email: john.damian@radian.com



For the Media:

Rashi Iyer - Phone 215.231.1167

email: rashi.iyer@radian.com

Source: Radian Group Inc.

FAQ

What recent change occurred in Radian's leadership?

Rick Thornberry, the CEO of Radian Group Inc. (NYSE:RDN), has joined the Board of Directors of the Opens Doors Foundation.

What is Radian's commitment to the Opens Doors Foundation?

Radian has historically provided significant support to the Opens Doors Foundation, including a $400,000 commitment over four years to support families with critically ill children.

How has Radian supported the community through its Corporate Citizenship Program?

Radian's Corporate Citizenship Program encourages employee engagement in charitable activities and has resulted in substantial corporate donations to various nonprofits.

What was the impact of Rick Thornberry's appointment on Radian Group Inc.?

Thornberry's appointment may bring fresh insights and leadership, enhancing Radian's philanthropic efforts and commitment to community support.