OppenheimerFunds and Employees Donate More Than $15 Million to Nonprofits
Expanded gift matching program celebrates firm's 60th year
NEW YORK, April 29, 2019 /PRNewswire/ -- OppenheimerFunds, a leading asset manager founded in 1959, with its employees, contributed over $15 million in combined charitable activities. Together they gave $10 million in donations as part of an expanded gift matching program to celebrate the firm's 60th year and to lend support to a broad spectrum of causes. Additionally, corporate donations were made through nonprofit grants submitted by employees and donations made across the U.S. and London.
"For 60 years, OppenheimerFunds has built its business on a strong foundation of client trust, collaboration and tireless investment stewardship. To celebrate this milestone, the firm has shown its gratitude through a number of employee-led philanthropic initiatives in 2019. It gives me great pride to know we will have a lasting impact on important causes for our communities and beyond, today and into the future," said Art Steinmetz, CEO, OppenheimerFunds.
The program, open during January and February 2019, offered a six-times (6x) match for all employee donations of up to $6,000 made to qualified charitable organizations. Of the firm's 2,000 employees, more than 700 participated, a record level of engagement, contributing to 1,200 nonprofits across a full range of social, civic, educational, cultural and health-related causes.
In addition, employees submitted nearly 350 grant requests for their favorite charities. The corporate donations totaled $1 million in employee-directed contributions for these grants. The OppenheimerFunds Philanthropy Advisory Council, with representation from across the firm, was chaired by Andy Doyle, Chief Human Resources Officer, OppenheimerFunds.
"2018 marked OppenheimerFunds' second best year in our history in terms of financial performance, thanks to the superb execution and efforts of our teams across the firm," said David Pfeffer, Chief Financial Officer, OppenheimerFunds. "I am so proud of our employees for stepping up and leading in their communities. The generous contributions by our colleagues through this expanded gift matching and grant programs will have a remarkable impact for years to come."
Throughout its 60 years, OppenheimerFunds has taken an active, hands-on approach to helping communities, supporting a range of programs and organizations that make a difference in people's lives. Its flagship program, 10,000 Kids by 2020, launched in 2016 to introduce 10,000 students to math literacy programs through nonprofit partnerships and active employee volunteerism. The firm delivered early on its goal, completing outreach to 10,000 children across its office location cities by April 2019, which is Financial Literacy Month. To achieve this objective, OppenheimerFunds worked closely with the National Museum of Mathematics (MoMath), for which it is an inaugural donor, as well as public schools and nonprofit organizations such as The Boys & Girls Clubs of America.
The firm also has a track record of global charitable engagement. For example, it has recently worked with organizations including MATHSWORLDUK, Common Impact and Cross-Cultural Solutions, which provide impactful and sustainable service opportunities and skills-based volunteer programs. Over the years, 15 OppenheimerFunds teams participated with CCS serving children abroad, most recently conducting vision tests and building out a computer lab.
Additionally over the last eight years at the firm's Distribution Symposium, a semi-annual conference for more than 250 members of the firm's Distribution team, OppenheimerFunds made donations and volunteered with nonprofits across the country to curate murals for hospital walls; refurbish local school facilities; assemble and donate backpacks to troops; construct bicycles, wheelchairs and toddler beds; assemble care packages, school backpacks, meal kits and hygiene kits for families recovering from natural disasters; and more. Teams also helped build model solar cars and robotics to reinforce STEM skills with children of local Boys & Girls Clubs.
As previously announced, Invesco will acquire OppenheimerFunds from Oppenheimer's parent company MassMutual, with the transaction expected to close during the second quarter of 2019.
Founded in 1959, OppenheimerFunds is dedicated to providing solutions for its partners and end investors, and including its subsidiaries, manages more than $230 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of March 29, 2019.
OppenheimerFunds is an asset manager with a history of providing innovative strategies to its investors. The firm's 16 investment management teams specialize in equity, fixed income, alternative, multi-asset, and factor and revenue-weighted-ETF strategies, including ESG. The firm is a signatory of the UN PRI. OppenheimerFunds and its subsidiaries offer a broad array of products and services to clients, who range from pensions and endowments to financial advisors and individual investors. OppenheimerFunds and certain of its subsidiaries provide advisory services to the Oppenheimer family of funds, while OFI Global Asset Management offers solutions to institutions. The firm is active through its Philanthropy & Community initiative, 10,000 Kids, which introduces children to math literacy programs.
For more information about OppenheimerFunds:
Web: oppenheimerfunds.com
Tweets: twitter.com/OppFunds
Podcasts: oppenheimerfunds.com/advisors/podcasts
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc.
225 Liberty Street, New York, NY 10281-1008
© 2019 OppenheimerFunds Distributor, Inc. All rights reserved.
SOURCE OppenheimerFunds
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