Prudential receives Jefferson Award for public and community service
NEWARK, N.J. -- June 24, 2013
The New Jersey State Governor’s Jefferson Awards honored Prudential Financial,
Inc. (NYSE:PRU) for the company’s commitment to public and community service
during a ceremony held on June 4 at the Newark Museum. Prudential was
recognized in the “Corporate Leadership” category and was among 25 honorees
lauded for volunteerism.
“Prudential has a long-standing commitment to support the communities where we
live and work, and we're honored to be recognized for that,” says Lata Reddy,
vice president, Corporate Social Responsibility at Prudential and president of
The Prudential Foundation. “Our employees exemplify that commitment by giving
of their time, skills and expertise for the benefit of others.”
The Jefferson Awards honors individuals who perform outstanding community
service. Prudential was selected for the award because its long-standing
commitment to corporate social responsibility in New Jersey and, specifically,
the Prudential Foundation’s Building Diverse Leadership Program, a three-year
initiative designed to increase diversity and build capacity on non-profit
boards. In its first year, Building Diverse Leadership placed 24 employees on
boards of New Jersey non-profits.
The Prudential Foundation awards approximately $25 million annually to improve
education and community development and to support the arts. And its Social
Investment program provides $45 million annually to develop and preserve
affordable housing, improve access to quality education, and connect
neighborhoods and residents to economic growth opportunities. “Prudential
leverages its resources in a very unique way. HANDS is fortunate to have
received not only grants and social investments from Prudential, but also a
great member of our board. It is this deep partnership that creates a
long-term impact in the nonprofit sector and in the community,” said Patrick
Morrissy, executive director of Housing and Neighborhood Development Services,
Inc., (HANDS), a nonprofit that revitalizes neighborhoods in Orange and East
Orange, N.J. Morrissy nominated Prudential for the award.
The Prudential Foundation provided financial support to HANDS and placed
Gillian Parascandola, a director in Group Insurance at Prudential, to the
HANDS board through the company’s Building Diverse Leadership initiative.
The Jefferson Awards are a prestigious national recognition system honoring
community and public service in America. The Jefferson Awards are presented on
two levels: national and local. They began in 1972 to create a Nobel Prize for
public service. Today, their primary purpose is to serve as a "Call to Action
for Volunteers" in local communities.
The Prudential Foundation is a not-for-profit corporation supported by The
Prudential Insurance Company of America, a subsidiary of Prudential Financial,
Inc. The Prudential Foundation focuses its grant making strategy in the areas
of education, economic development and arts and civic infrastructure; and it
supports community engagement efforts of Prudential employees through Matching
Gifts and other programs that recognize their volunteer work.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
approximately $1.06 trillion of assets under management as of March 31, 2013,
has operations in the United States, Asia, Europe, and Latin America.
Prudential’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth through a
variety of products and services, including life insurance, annuities,
retirement-related services, mutual funds and investment management. In the
U.S., Prudential’s iconic Rock symbol has stood for strength, stability,
expertise and innovation for more than a century. For more information, please
Valerie Tutak, 973-802-2517
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