Pledges 10,000 Employee Volunteer Hours
Boston– John Hancock Financial Services, Inc. has committed $10.5 million to support local Boston area community programs in 2007, the company said today. The commitment represents an approximately $200,000 increase over 2006 and a $500,000 increase over 2005 in community giving activities. The company also pledged 10,000 hours of community support through its employee volunteer programs.
“As John Hancock continues to grow in Boston, we are pleased to continue to grow our longstanding corporate tradition of financial and volunteer support of programs that strengthen the fabric of the local Boston community, and help keep Boston a vibrant place for workers, companies and its citizens,” said John D. DesPrez III, President and Chief Executive Officer of John Hancock. “Our philosophy is that as our company grows, we will share our growth with the community.”
There are four components to John Hancock’s community support, including:
- Ongoing Community Support ($5.7 million, a $200,000 increase over 2006): Annual financial support is provided to numerous charitable organizations including grants, sponsorships and a matching gifts program.
- Discretionary Giving ($2.0 million): Discretionary dollars are allocated to fund additional charitable and community programs on an opportunistic basis. In the past, this has included activities such as a youth education program coinciding with the Democratic Convention when it was held in Boston, sponsorship support for a parade celebrating the Red Sox World Series victory, and a special gift to Boston University in support of their Student Village Fund.
- Boston Marathon Fundraising Program (estimated $2.8 million): As the major sponsor of the Boston Marathon, John Hancock provides select non-profit organizations with complimentary marathon numbers that enable funds to be raised for their organizations. In 2006, non-profit organizations were able to raise $2.8 million dollars as a result of this in-kind gift.
- Volunteer Program (estimated 10,000 volunteer hours): John Hancock has one of the largest employee volunteer programs in Boston. In 2005, associates contributed nearly 7,000 volunteer hours impacting 5,000 youth and families. Through the volunteer program, the company focuses on Boston youth and families in need, via projects like Habitat for Humanity and the John Hancock Harborwalk 2006, which educated Boston youth about the history of the South Boston waterfront.
Senior executives also play an important volunteer role, serving on a variety of Boards and committees at Boston-area institutions including the American Red Cross, Boston Municipal Research Bureau, Boston Symphony Orchestra, Institute of Contemporary Art, and Junior Achievement, among many others.
In addition to the four areas above, John Hancock continues to be committed to maintaining its sponsorship of the Boston Marathon. This support amounts to an annual cost to John Hancock of several million dollars. The economic value to the community of the Boston Marathon recently has been calculated to be more than $95 million per year.
“John Hancock stands firmly committed to being a leader in supporting the Boston community,” said Carol Fulp, Senior Vice President for Community Relations. “The company and its employees are proud to be making a difference in the lives of so many of those in need.”
In addition to the non-profit organizations where John Hancock is represented by a board member, long-term community partners with John Hancock include:
- Oliver Perry Elementary School in South Boston
- Edward Everett Elementary School and Lucy Stone Elementary School, both in Dorchester
- Samuel Mason Elementary School in Roxbury
- English High School, Jamaica Plain
- Boys & Girls Clubs of Boston
- Boston Police Department Foundation—Youth Violence Prevention Programming
- Boston Children’s Museum
- South Boston Neighborhood House
- Dimock Community Health Center
- John F. Kennedy Library
- Horizons For Homeless Children
Also, John Hancock has received numerous awards for its community efforts. For example, in 2003, John Hancock became the first Massachusetts-based company to receive the Points of Light Award for Excellence in Community Service. Additional honors have been awarded by the Urban League, Salvation Army, Greater Boston Food Bank, the Yawkey Foundation and more.
About John Hancock
John Hancock Financial Services, Inc. is a division of Manulife Financial Corporation. Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$414 billion (US$355 billion) as at December 31, 2006.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
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The attached pages highlight John Hancock’s community giving programs.
Melissa Simon Berczuk
- Examples of John Hancock Financial Services, Inc. Community Programs
- John Hancock Teen Education Program at the new Institute of Contemporary Art (ICA)
With John Hancock’s corporate headquarters now in South Boston’s Seaport district, the company wanted to strengthen ties to the community. John Hancock has given a $1.7 million gift to the ICA to establish the Teen Education Program. Scheduled to begin in early 2007, the program will enable 6,000 Boston youths to participate in after-school and summer programming at the ICA. In addition, President and CEO John DesPrez III is an ICA trustee.
- Summer of Opportunity
Founded 14 years ago, this partnership with the Boston Police Department (BPD) enables 40 at-risk youth referred by the BPD to participate in a comprehensive job program at John Hancock. Through the fall of 2006, 500 Boston youth have participated in this program which matches each teen with a John Hancock mentor. The program has been cited by the Mayor of Boston, the Police Commissioner and the US Attorney General as a contributing factor in stemming youth crime.
- Boston Public School Summer Jobs Program
In response to a resurgence of youth violence, John Hancock significantly increased the number of summer jobs offered to high school students. Thirty-five English High School students participated in summer internships and workshops in 2006, compared with five in 2005.
- Financial Wizard
Created by a John Hancock actuary, John Hancock volunteers in this program teach math to elementary school students at the Perry School in South Boston and the Mason School in Roxbury. Through the fall of 2006, employees have taught 2,000 lessons to Boston Public School children.
- Boston Marathon Kenya Project
John Hancock uses the Boston Marathon and the venue of the African Tropical Forest at Boston’s Franklin Park Zoo to teach students about Kenya. Conducted by elite marathon runners from Kenya and John Hancock volunteers, the program teaches students about the language, culture and geography of Kenya. Students also receive VIP seating at the Marathon. Through the fall of 2006, more than 300 students have participated in the program.
- Edward Everett Elementary School Partnership
Since 1994, Manulife and John Hancock have supported this public elementary school through employee volunteerism and support for enrichment programs and arts education. Additionally, the company provided a $100,000 supplemental grant for schoolyard renovations.
- United Way
Manulife and John Hancock have given strong support to the United Way. In 2006, John Hancock and its associates raised more than $360,000 for the United Way.
- South Boston Neighborhood House
In addition to having a senior officer on this organization’s board, John Hancock has funded a fundraising consultant to provide technical and development skills as this non-profit embarks on its first capital campaign.