Northern Trust Corporation says that its 2006 global corporate philanthropy program awarded USD15.4 million in cash contributions and more than USD300,000 gifts in-kind, an increase of 17 percent over the previous year. This represented more than USD1 million per month to numerous nonprofit organisations worldwide.
Northern Trust contributed approximately half of its donations to human services organisations that provide critical services, housing, food, child care and health care. Contributions were also directed toward education initiatives and cultural organisations such as museums and theatres.
Northern Trust’s goal is to donate approximately 1.5 percent of its pre-tax profits to charities every year.
“In 2006, Northern Trust surpassed its previous records for contributions to charitable organizations around the globe,” says William A. Osborn, the Chairman and Chief Executive Officer of Northern Trust Corporation. “Since 1889, we have reinvested in the communities where we live and do business. Today this may mean helping teachers buy books in our headquarters city of Chicago or enabling disadvantaged students in Asia to attend their first art exhibit. I can say with sincere pride that philanthropy is not just a strategic priority for Northern Trust, but part of our corporate culture.”