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MILWAUKEE, Nov. 8, 2012 /PRNewswire/ -- Northwestern Mutual, through its Foundation, is increasing its charitable giving in fiscal year 2013 to $16.9 million, up $200,000 from its 2012 contributions.
The majority of funds will further strengthen Greater Milwaukee's most exceptional nonprofits, while a portion will power the company's Pediatric Cancer Program, which launched in July. In addition to financial support, Northwestern Mutual gives back through volunteering. More than 1,000 Northwestern Mutual employees donate a collective 21,000 hours each year to community volunteer efforts, including mentoring, serving on nonprofit boards and participating in charity drives.
"Our long-term goal is to harness the power of our employees, field force and Foundation to support kids across the street and across the country," said John Kordsmeier, president, Northwestern Mutual Foundation. "Northwestern Mutual will continue to be one of the largest corporate givers in the state of Wisconsin – and we'll continue to be a leading funder of UPAF and United Way of Greater Milwaukee."
The foundation of Northwestern Mutual's philanthropic focus in the Greater Milwaukee area will be rooted in three strategies:
"The strongest plans always begin with a firm foundation," said Kordsmeier. "We believe distressed Milwaukee neighborhoods can transform into stronger communities if residents, civic leaders, nonprofits and neighborhood businesses have the capacity and the tools to plan for the future."
On a national front, Northwestern Mutual's philanthropic focus on fighting pediatric cancer will continue, with funds allocated to research and support for families who are living with the challenges of these diseases.
"Childhood cancer is the leading cause of death by disease in children under 15 in the U.S., yet research to cure childhood cancer is still vastly and consistently under funded," Kordsmeier said. "Our giving will help strengthen the communities where we live and work, accelerate the search for a cure to childhood cancer and support kids and families fighting the disease."
As part of its Pediatric Cancer Program, Northwestern Mutual is teaming up with Alex's Lemonade Stand Foundation™ and Starlight Children's Foundation™, two leading nonprofits focused on fighting childhood cancer and helping families of children battling cancer.
About Northwestern Mutual Foundation
The mission of the Northwestern Mutual Foundation – the largest corporate foundation in the state of Wisconsin – is to build strong, vibrant communities that serve as a legacy to future generations. The Foundation's giving is designed to create an impact on the communities where the company's employees and financial representatives live and work. In fiscal year 2013, the Foundation will contribute $16.9 million to nonprofit organizations across the country.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company – Milwaukee, WI (Northwestern Mutual) – among the "World's Most Admired" life insurance companies in 2012 according to FORTUNE® magazine – has helped clients achieve financial security for more than 155 years. As a mutual company with $1.2 trillion of life insurance protection in force, Northwestern Mutual has no shareholders. The company focuses solely and directly on its clients and seeks to deliver consistent and dependable value to them over time. Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; and Northwestern Long Term Care Insurance Company; and Russell Investments.
SOURCE Northwestern Mutual