BOSTON, April 8, 2008 /PRNewswire-FirstCall/ -- John Hancock Financial Services, Inc. will provide more than $11.3 million to support Boston area community programs in 2008, the company said today. 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."
The four components to John Hancock's community support include:
-- Ongoing Community Support ($5.9 million, a $200,000 increase over
2007): 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 $3.4 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 2007, non-profit
organizations were able to raise $3.3 million dollars as a result of
this in-kind gift. Of this, $130,000 was raised by John Hancock
employee marathoners.
-- Volunteer Program (estimated 10,000 volunteer hours): John Hancock has
one of the largest employee volunteer programs in Boston. In 2007,
associates contributed nearly 7,500 volunteer hours impacting 5,000
youth and families. Through the volunteer program, the company focuses
on activities that benefit Boston youth and families in need, through
projects with organizations such as Habitat for Humanity, Greater
Boston Food Bank and Red Cross Food Pantry.
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.
John Hancock also remains 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 that the Boston Marathon brings to the community and region has been calculated to be more than $97 million per year.
"John Hancock stands firmly committed to being a leader in supporting the Boston community," said Carol Fulp, Vice President of 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$396 billion (US$401 billion) as at December 31, 2007.
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 http://www.manulife.com.
The attached pages highlight John Hancock's community giving programs.
Examples of John Hancock Financial Community Programs
-- John Hancock Teen Education Program at the new Institute of
Contemporary Art
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. When it is up and running, 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 15 years ago, this partnership with the Boston Police
Department (BPD) annually enables 40 at-risk youth referred by the BPD
to participate in a comprehensive job program at John Hancock. Through
the fall of 2007, 550 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
To help stem youth violence, John Hancock significantly increased the
number of summer jobs offered to high school students last summer. The
company helped create 200 jobs in 2007, compared with 75 in 2006.
-- 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 2007,
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 2007, 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 2007, John Hancock and its associates raised more than $525,000 for
the United Way, nearly a 35 percent increase over 2006.
-- 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.
Website: http://www.jhancock.com/
Website: http://www.manulife.com/