Northern Trust donated $15 million last year in corporate contributions to charities and nonprofit organizations, achieving its goal of giving 1.5 percent of annual pre-tax profits, the firm announced.
At the same time, employees volunteered almost 200,000 hours to support various community projects. The company gave its employees two days off with pay to do volunteer work.
Northern Trust, based in Chicago, provides investment management, asset and fund administration, banking and fiduciary services for corporations, institutions and affluent individuals. Included in its donations was $2.3 million in charitable trust grants to organizations in Chicago and $200,000 to the American Red Cross for Hurricane Sandy relief.
The donations also included $550,000 from employees that was matched by the company. The Northern Trust Community Partners program for employees to volunteer started in 2012. The company’s 2012 charitable contributions were the highest since 2007.