Funding will advance the company's long-term goal of closing the opportunity gap in Milwaukee's schools
MILWAUKEE, Wis., Oct. 11, 2022 /PRNewswire/ -- As part of its long-term commitment to investing high-quality education to help close the opportunity gap for students in the city of Milwaukee, Northwestern Mutual, through its Foundation, is donating more than $3.5 million in grants to local educational programs, nonprofits and schools. The grants will support the company's goal of increasing the number quality seats available at high-performing schools to ensure all children have access to an enriching and supportive learning environment.
Supporting education for Milwaukee's youth has been one of the company's priorities for more than 25 years, investing more than $60 million to date. This year's grants will support nearly 40 Milwaukee-based nonprofits and schools in all three sectors of public, charter and choice schools that act as an academic pipeline from kindergarten to career. These partner schools predominantly serve economically disadvantaged students.
"At Northwestern Mutual, we believe education lays the groundwork for a strong community. Every child deserves access to a quality education; however, the reality remains that educational disparities exist," said Steve Radke, president of the Northwestern Mutual Foundation. "Our goal is to sustain our high-quality partner schools and grow their capacity so more students receive the resources they need to succeed."
Spotlight: Dr. Howard Fuller Collegiate Academy
Founded in 2004 by Howard Fuller, the Dr. Howard Fuller Collegiate Academy is a tuition-free, nonprofit, public charter high school open to all students in Milwaukee. The academy's mission is to enroll its graduates into higher education and produce responsible leaders. Earlier this year the school launched a $25 million capital campaign, Commit to the Future, to build a new, state-of-the art high school in Milwaukee's Bronzeville neighborhood and pave the way for a proposed new, feeder middle school.
Northwestern Mutual shares the school's long-term goal of increasing the number of quality seats in Milwaukee schools and has donated $1 million to the capital campaign. In addition, Northwestern Mutual is providing up to $2.5 million in bridge loan funding to allow the school to move forward with construction while continuing to raise dollars. The company has also invested in two pilot programs and a high-dosage math tutoring program to support current and future teachers.
"We are incredibly grateful for Northwestern Mutual's generous donation, ongoing collaboration and its commitment to creating a lasting impact on Milwaukee's educational ecosystem," said Judith Parker, principal at Dr. Howard Fuller Collegiate Academy. "This investment will help us improve the quality of life for more students and educators for many years to come."
The additional grants will support programming, nonprofits and schools spanning from early childhood education to post-secondary completion. View the company's full list of education partners here.
Locally, Northwestern Mutual also collaborates with community organizations to revitalize Milwaukee's Amani, Metcalfe Park and Muskego Way neighborhoods and support the city's leading cultural destinations.
About The Northwestern Mutual Foundation
The mission of the Northwestern Mutual Foundation is to improve the lives of children and families in need. The Foundation has given more than $400 million since its inception in 1992 and is designed to create lasting impact in the communities where the company's employees and financial representatives live and work. It accomplishes this by combining financial support, volunteerism, thought leadership and convening community partners to deliver the best outcomes. The Northwestern Mutual Foundation's efforts are focused nationally on curing childhood cancer, and locally on education, neighborhoods and making the company's hometown of Milwaukee a great destination. Visit Northwestern Mutual Foundation to learn more.
About Northwestern Mutual
Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a holistic planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With more than $560 billion in combined company and client assets, $34 billion in revenues, and $2.1 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to nearly five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 97 on the 2022 FORTUNE 500 and was recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2022.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.
SOURCE Northwestern Mutual