Employee-driven community investment program helps nonprofits further their missions
SPRINGFIELD, MASS., December 16, 2015 – Massachusetts Mutual Life Insurance Company (MassMutual) and its employees announced today a total grant of more than $1.4 million to nonprofit organizations across the country through the company’s annual employee giving program, Mutual Impact. This year, 22 nonprofits received grants ranging from $10,000 to $100,000.
MassMutual’s employees drive the entire Mutual Impact program. They make donations – which are matched by MassMutual – to fund grants, select cause areas and choose which programs receive funding, and are encouraged to volunteer in support of the selected organizations.
“As a leading mutual life insurance company, corporate citizenship is a core value of our organization. Mutual Impact gives us the opportunity to make a stronger collective impact by investing time, talent and dollars to address pressing community needs,” said Nick Fyntrilakis, Vice President of Community Responsibility, MassMutual. “Our donations are aimed at addressing important societal issues including poverty, hunger and early reading proficiency. The eagerness and dedication to support causes that affect so many across our nation is inspiring and we couldn’t be more proud.”
The grants are awarded to nonprofits located in communities where MassMutual has significant operations, including Springfield and Boston, Mass.; Enfield, Conn., Phoenix, Ariz. and Memphis, Tenn. In addition to the local and regional awards, two national nonprofits were awarded grants to further their respective missions.
“Mutual Impact enables us as MassMutual employees to channel our passion and enthusiasm for making a difference in our communities,” added Jim Puhala, Vice President, U.S. Insurance Group Compliance and Chair of the Mutual Impact Employee Advisory Board. “By engaging with nonprofits on multiple levels, from selecting and donating toward cause areas, voting on specific organizations, serving as employee ambassadors and volunteering, we’re creating a tangible bond with our local communities that will drive a deep and lasting positive impact on both our communities and our company.”
Mutual Impact is a part of MassMutual’s comprehensive Community Responsibility strategy, which includes $13 million in annual charitable giving. Highlighted programs include MassMutual’s FutureSmartSM program, which teaches middle schoolers about smart money management, career readiness programs for high school and college students, college scholarships, MassMutual’s LifeBridgeSM Free Life Insurance Program providing free term life insurance to income-eligible families in support of their children’s education, and Community Service Awards in recognition of the volunteer service of the company’s financial professionals.
“We are excited and humbled to receive a $100,000 grant from MassMutual and its employees through the Mutual Impact giving program,” said Sarah Tsitso, Executive Director of the Springfield Boys & Girls Club. “It is especially meaningful to know that MassMutual employees made the choice to support the important work done each day within the walls of the Springfield Boys & Girls Club. This grant will fund a free math- and literacy-based tutoring program for more than 150 first through fifth graders, as well as allow the Club to develop a similar program for our middle school members. We are so grateful to MassMutual for its dedication and leadership in the Springfield community and beyond.”
For more information about MassMutual’s Community Responsibility efforts and for a full list of this year’s Mutual Impact grantees, visit www.massmutual.com/mutual-impact.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.