By Loretta Worters, Vice President – Media Relations, Triple-I
The insurance industry contributed more than $1 billion to charity in 2022, according to an independent study by the Insurance Industry Charitable Foundation (IICF).
Alongside the industry’s charitable giving, the IICF Philanthropic Giving Index revealed other community contributions in 2022, demonstrating the industry’s dedication to giving and volunteering:
- 137,300 non-profit partners and causes were supported
- 7.5 million volunteer hours were completed
- 94,000 volunteer insurance professionals
These numbers were announced on November 15, National Philanthropy Day, celebrated by fundraising professionals, government leaders, foundations, corporations, individual donors and all those who wish to honor all contributions of philanthropy .
“Philanthropy Day provides an opportunity to reflect on the meaning of giving and all that the insurance industry has accomplished,” said Elizabeth (Betsy) Myatt, vice president and director of programs for the IICF. With research support from Triple-I, IICF examined data from 120 companies, representative of all sectors of the insurance industry, to obtain this industry-wide overview of charitable giving and complementary data .
“These collective philanthropic findings provide the industry with a remarkable digital representation of the generous charitable giving and support of our many insurance companies,” said Myatt, who is also executive director of the IICF Northeast Division .
IICF is a nonprofit organization that brings together the common strengths of the insurance industry to help communities and enrich lives through grantmaking, volunteer service and leadership. Established in 1994, it has served as the industry’s philanthropic voice and foundation for nearly 30 years, contributing $47 million in community grants as well as more than 337,000 volunteer hours by more than 115,000 industry professionals. IICF reinvests locally where funds are raised, serving hundreds of charities and non-profits for maximum community impact.
Among the many charities to which the IICF provides grants are:
- CHILDREN NEED MOREa 501(c)(3) nonprofit charitable organization dedicated to improving the lives of children and families facing life-threatening illnesses and traumatic interruptions to the normal life experience childhood ;
- 180 Transform liveswhich provides programs and services to victims of domestic and sexual violence;
- Boston scoreshelping to break down barriers to advance racial and gender equality;
- National Alliance on Mental Illnesswhose mission is to help families and individuals affected by mental illness build better lives through education, support and advocacy.