NEWPORT BEACH, CA--(Marketwired - Nov 26, 2014) - The PIMCO Foundation, the charitable arm of global investment management firm PIMCO, has awarded over $1.1 million in grants to 26 organizations serving some of the most vulnerable and at-risk populations.
"At PIMCO, we believe in the power of corporate philanthropy and corporate citizenship to effect positive, long-term change in our communities," said Douglas Hodge, Chief Executive Officer of PIMCO and President of the PIMCO Foundation. "Each year, through the PIMCO Foundation's Grants Program, we support nonprofit organizations working to solve some of the world's most challenging issues. Again this year, we are honored to work alongside our partners, both locally and globally, to make a meaningful difference while striving for maximum impact."
The Grants Program aligns with the PIMCO Foundation's mission to Engage, Empower and Invest in individuals and communities across the globe.
In the Engage category, the Foundation seeks to support organizations that are addressing economic instability in Orange County and the New York Metro Area.
Specifically, the community indicators the Foundation focused on were:
- Workforce development
- Homelessness and housing instability
- Food security
In the Empower category, the Foundation seeks to support organizations that are focused on financial literacy or college-readiness.
In the Invest category, the Foundation seeks to support organizations that are focused on microenterprise and microfinance in developing countries.
The 2014 grants were awarded to:
| Engage: | ||
| 211 Orange County | Santa Ana, CA | |
| AIDS Services Foundation | Irvine, CA | |
| Bridges Outreach | Summit, NJ | |
| Human Options | Irvine, CA | |
| Illumination Foundation | Irvine, CA | |
| New York Common Pantry | New York, NY | |
| Partnership for the Homeless | New York, NY | |
| Per Scholas | Bronx, NY | |
| Project Dignity | Garden Grove, CA | |
| Serve the People | Santa Ana, CA | |
| Services for the UnderServed | New York, NY | |
| Taller San Jose | Santa Ana, CA | |
| Year Up | New York, NY | |
| Empower: | ||
| Accion East | New York, NY | |
| Boys & Girls Club of Santa Ana | Santa Ana, CA | |
| Grameen America | New York, NY | |
| Moneythink | Los Angeles, CA | |
| Network for Teaching Entrepreneurship (NFTE) LA & NY | Los Angeles, CA | |
| New Heights Youth | New York, NY | |
| Sponsors for Educational Opportunity (SEO) | New York, NY | |
| The Wooden Floor | Santa Ana, CA | |
| THINK Together | Santa Ana, CA | |
| Working in Support of Education (WISE) | New York, NY | |
| Invest: | ||
| Mercado Global | Brooklyn, NY | |
| Nonprofit Enterprise Self-sustainability Team (NESsT) | El Cerrito, CA | |
| Trickle Up | New York, NY | |
Grantees are invited to a PIMCO Foundation Grant Celebration Event -- in New York on December 2 and in Newport Beach on December 11 -- where they take part in an evening of networking with members of the PIMCO Foundation Board, staff, PIMCO employees, and other grant recipients.
Other 2014 Giving Outside of the Grants Program, the PIMCO Foundation supports nonprofit organizations through a range of other initiatives. In 2014, the Foundation committed over $2 million in support of nonprofit organizations through its Community Support Sponsorship, Volunteer and Disaster Assistance Programs, and also an Employee Match Program which offers employees the chance to double their donations to nonprofit organizations.
Now in year four of a six-year, $3.2 million commitment, the Foundation also maintains an ongoing strategic partnership with global NGO TechnoServe. Included in this partnership is the Emerging Enterprise Program, an international volunteer assignment where PIMCO employees can spend up to nine weeks in countries such as El Salvador, Nicaragua, and Peru, working alongside TechnoServe and local entrepreneurs, helping build and scale their businesses.
About the PIMCO Foundation The PIMCO Foundation is the charitable arm of PIMCO, based in Newport Beach, California, which helps people around the world to reach their full potential by engaging, empowering and investing in communities. It carries out its mission by identifying areas of urgent community need and volunteering time and financial resources to support high impact projects and programs; through education with a focus on financial literacy and college readiness; and by investing in people through partnerships fostering economic development.
@pimcofoundation
About PIMCO PIMCO is a leading global investment management firm, with offices in 12 countries throughout North America, Europe and Asia. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.
Contact: Mark Porterfield PIMCO - Media Relations 949-720-NEWS (6397)
