20.09.2005 14:40:00
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More Than 34,000 Employees to Give Back as Part of 10 Years of Prudential Financial's Global Volunteer Day; More Than One Million Volunteer Hours Worked and $1M Donated in Program's 10-Year History
"Prudential Financial employees have a long history of helpingthose in need," said Arthur F. Ryan, chairman and CEO of PrudentialFinancial. "Each year I've been impressed by the compassion,dedication, and overwhelming sense of community Prudential employeesand affiliates demonstrate. Now more than ever, the responsibility forCorporate America to help our communities in need is critical. It'snot only the right thing to do, but our employees, investors,customers, and shareholders also expect it. I'm proud that ouremployees have always embraced that challenge and are leading thecharge in their communities."
Prudential's first Global Volunteer Day, formerly known asNational Volunteer Day, was held on October 28, 1995. Starting with5,000 employees participating in 100 projects, the daylong celebrationhas grown to include the participation of more than 34,000 volunteersat more than 900 locations in 15 countries. Over the last decade morethan one million hours of personal time has been committed to thisannual effort. Based on the 2005 hourly value of volunteer time fromthe Points of Light Foundation at $17.75, Prudential's employeeefforts will have exceeded a cumulative value of $20.5 million.
"The dedication, creativity, and leadership of our volunteers hasmade Global Volunteer Day an extraordinarily impactful communityservice initiative," said Gabriella Morris, vice president ofCommunity Resources for Prudential and president of The PrudentialFoundation. "For the last decade, our volunteers have ensured that weworked with organizations addressing the most pressing needs in ourcommunities."
Global Volunteer Day includes all forms of community service, fromrebuilding a home for an elderly neighbor to preparing meals atshelters for those impacted by natural disasters. During GlobalVolunteer Day, projects that meet selected criteria earn a $1,000Challenge Grant provided by The Prudential Foundation to thepartnering non-profit organization. To date, 1,404 projects haveearned Challenge Grants totaling more than $1.4 million in grantsgiven to partnering organizations. This year, The PrudentialFoundation will donate $20 for each Global Volunteer Day hour ofservice, up to $100,000, to the Prudential CARES Disaster Relief Fundto help those impacted by the Hurricane Katrina.
Prudential Financial companies, with approximately $511 billion intotal assets under management as of June 30, 2005, serve individualand institutional customers worldwide and include The PrudentialInsurance Company of America, one of the largest life insurancecompanies in the United States. These companies offer a variety ofproducts and services, including life insurance, mutual funds,annuities, pension and retirement related services and administration,asset management, securities brokerage, banking and trust services,real estate brokerage franchises, and relocation services. For moreinformation, visit www.prudential.com.
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