Northern Trust donated $15 million last year in corporate contributions, achieving its goal of giving back 1.5 percent of annual pre-tax profits, and employees volunteered nearly 200,000 hours in support of communities around the world.
The company’s 2012 charitable giving reached its highest total contribution amount since 2007. According to the Committee Encouraging Corporate Philanthropy’s
Giving in Numbers: 2012 Edition
, Northern Trust’s total giving as a percentage of pre-tax profits exceeded many Fortune 500 companies surveyed in 2011. The median level of corporate giving among surveyed companies was less than 1 percent of pre-tax profits.
Northern Trust’s philanthropy is based on the premise that healthy schools and vibrant communities are good for business and prosperity, and represents Northern Trust’s commitment to giving back to its communities. It is a key component of Northern Trust’s corporate social responsibility strategy, which also includes diversity and inclusion, environmental awareness and socially responsible investing. Northern Trust has been recognized by the Dow Jones Sustainability and MSCI ESG indices, both of which ranked Northern Trust in the 100
percentile for Corporate Philanthropy in 2012.
For the first time, Northern Trust offered two full days of paid time off to its more than 14,000 employees, empowering staff members to support charitable causes of their choice. Employees took advantage of the new policy by giving their time to a variety of causes, such as helping school children improve literacy skills, providing meals to the hungry and planting saplings in a public housing development.
"Northern Trust has always been an active supporter of the communities in which we live and work. Now, through the Northern Trust Community Partners program, we’re giving our employees time to get involved with causes personally important to them," Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “We’re proud to enable our workforce to contribute on an individual basis as well as through group projects organized at our offices around the world.”