Allianz Life Gives $1.8 Million in Grants to Four Local Nonprofits

MINNEAPOLIS, Minnesota, April 12 -- Allianz Life Insurance Co. of North America (Allianz Life), a provider of retirement solutions, including fixed and variable annuities and life insurance for individuals, issued the following news release on April 11, 2024:

Allianz Life Insurance Company of North America (Allianz Life) today announced $1.8 million in investments to four local nonprofits focused on increasing equitable access to economic opportunities and resources in the Twin Cities. Each organization will receive $450,000 over the course of three years, with 75 percent of funds going to nonprofits located in the Midway community in St. Paul near Allianz Field.

* Asian Economic Development Association (AEDA) aims to increase economic opportunities for Asian Americans, with a focus on Little Mekong, the primarily Asian business and cultural district in the Midway area. This grant will help support enhanced business development and financial empowerment programs, as well as the development and membership building for a cooperatively-owned market in the area.

* Local Initiatives Support Corporation Twin Cities (LISC Twin Cities) promotes projects to revitalize communities and helps increase economic opportunity for Twin Cities residents. The investment will support LISC Twin Cities' Financial Opportunity Center(R) network, which helps residents access career and financial coaching services, and wealth building tools to help increase savings, credit, and assets.

* Wallin Education Partners supports college and career success for high-potential students from low-income backgrounds. The investment from Allianz will help double the number of scholars served and strengthen additional resources available to scholars, including advising, wrap-around services, career pathway pilots, and internships.

* YouthLink focuses on supporting and empowering homeless youth on their journey to self-reliance. The grant will help support a surge in visits to YouthLink's drop-in center, which are up 106 percent since 2021, as well provide youth with support services and resources including nutrition, basic needs, housing, and employment readiness.

"Each of these organizations play an important role in the various steps toward building a foundation of financial and economic security," said Jasmine Jirele, president and CEO, Allianz Life. "These deep collaborations with nonprofits will help strengthen our impact and build on the progress we have made to create a brighter, more financially secure future for generations to come."

"This partnership will help us continue to invest in hope and potential for the future as we work to meet the increasing needs of youth experiencing homelessness in our community," said Rich Melzer, CEO, YouthLink. "We're grateful to Allianz Life for rising to the occasion and helping make a lasting impact in the lives of so many today and well into the future."

These grants are part of the company's community engagement program to strengthen the future of the Twin Cities community by reducing barriers to economic inclusion at all stages of life. Brought together under the umbrella, Allianz for Tomorrow, it includes all corporate grant making and employee volunteerism activities.

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Original text here: https://www.allianzlife.com/about/newsroom/2024-Press-Releases/Allianz-Life-Gives-Grants-to-Four-Local-Nonprofits