MetLife Foundation: $1B+ in Global Giving, Tackling Income Inequality & Supporting Communities
MetLife, a prominent global financial services firm, plays a crucial role in supporting its communities. Its regions, business units, and employees all contribute to community involvement and outreach. The MetLife Foundation connects MetLife staff with nonprofit organizations and opportunities for making an impact through volunteering, pro-bono work, and grants. These initiatives helped the MetLife Foundation surpass $1 billion in total donations by 2023.
Governance
The MetLife Foundation operates as an independent legal entity with its own Board of Directors, led by the Head of Corporate Affairs at MetLife, Inc. The Foundation's President and CEO reports directly to this Board Chair. In addition to leading the Foundation, the President and CEO also serves as the Head of Corporate Giving and Employee Volunteerism at MetLife, a role overseen by the Governance and Corporate Responsibility Committee of MetLife’s Board.
Highlights:
Governance
The MetLife Foundation operates as an independent legal entity with its own Board of Directors, led by the Head of Corporate Affairs at MetLife, Inc. The Foundation's President and CEO reports directly to this Board Chair. In addition to leading the Foundation, the President and CEO also serves as the Head of Corporate Giving and Employee Volunteerism at MetLife, a role overseen by the Governance and Corporate Responsibility Committee of MetLife’s Board.
Highlights:
- Over $1 billion given by MetLife Foundation since 1976.
- $30 million multi-year investment in Upstate New York to enhance regional efforts and support local residents.
- $8.3 million awarded in environmental grants since 2020.
- $37.4 million in total grants globally in 2023.
- More than 144,000 volunteer hours contributed across 38 markets in 2023.
- $96.1 million directed to support low-income communities since 2021.
Addressing Wealth and Income Inequality in the U.S.
In 2023, MetLife Foundation introduced a new initiative aimed at tackling the growing income and wealth disparity in the U.S. This two-year, $10.5 million pledge supports nonprofits and leaders actively addressing these issues in communities where MetLife operates.
- The Accelerating Commitment to Equity Innovation Fund (ACE Innovation Fund) is a $10 million, two-year commitment designed to expand access to capital for nonprofits working to close the income and wealth gap in historically disadvantaged communities. The Foundation has selected 24 nonprofits across seven cities to receive up to $400,000 each to advance and scale their programs. MetLife Foundation is collaborating with Urban Institute and Community Resource Exchange to evaluate the impact and provide support to the grantees.
- The Community Impact Grant Program (CIGP) provides support to grassroots organizations meeting the essential needs of low-income individuals. In 2023, MetLife Foundation awarded $491,000 to 38 nonprofits, benefiting over 100,000 low-income individuals in cities where MetLife operates.
Click here to see the complete list of grant recipients for the CIGP and ACE Innovation Fund.
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