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New York Life Foundation Increases Giving to Nonprofits in 2012

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The New York Life Foundation announced today an increase in its 2012 charitable giving budget to $13.5 million, a five percent increase over last year’s budget of $12.9 million. The increase will support programs that benefit young people, particularly in the areas of childhood bereavement and educational enhancement. Beyond this, the Foundation has made an additional commitment to childhood bereavement of $3.25 million in 2013, bringing the total multi-year commitment to this issue to $6.5 million.  With this latest commitment, the Foundation has provided more than $13 million in funds to this important issue since adding it as a focus area in 2008.

“It is gratifying to increase funding again in 2012 and to continue to support our philanthropic priorities, one of which includes continuing to grow and expand childhood bereavement services for children,” said Chris Park, president of the New York Life Foundation. “In these difficult times as demand for nonprofit programs and services continues to grow, being able to increase our giving is especially satisfying.  The ability to provide assistance to young people with programs that help them learn and grow is important to every community.”

In 2011, Foundation giving increased 15% over 2010.

Since its founding in 1979, the New York Life Foundation has provided more than $155 million in charitable contributions to national and local nonprofit organizations. Through its focus on “Nurturing the Children,” the Foundation supports programs that benefit young people, particularly in the areas of educational enhancement and childhood bereavement. The Foundation also encourages and facilitates the community involvement of employees, agents, and retirees of New York Life through its Volunteers for Life program.