PRUDENTIAL FOUNDATION

Contact information:

Prudential Plaza
751 Broad Street, 15th Floor
Newark, NJ 07102-3777
Phone: 973-802-4791
Email: community.resources@prudential.com

Website: http://www.prudential.com/view/page/public/12182

Type of foundation: Independent foundation funded by the company

Types of grants: Emergency funds, employee-related scholarships, matching gifts, general/operating support, program-related investments/loans, program, seed money, technical assistance.

Description: Incorporated in 1977, the Foundation makes grants in the following areas:

• Arts and Civic Infrastructure: The Foundation supports programs designed to promote the arts as an economic engine and quality of life issue; capacity-building activities for nonprofit organizations to ensure sustainability and growth; and open spaces through preservation and creating public parks and playgrounds.

• Economic Development: The Foundation supports programs designed to train and place individuals in demand occupations; business development opportunities to create and grow businesses; and community development programs, with an emphasis on strengthening community development corporations.

• Educational Leadership: The Foundation supports programs designed to promote reform in public education. Special emphasis is directed toward programs designed to improve student achievement by increasing the leadership capacity of educators, parents and community residents. The Foundation also supports organizations that adapts best practices and researched-based approaches to support instruction and learning in schools.

• Youth Development: The Foundation supports programs designed to foster skills and competencies for young people to be productive citizens. Special emphasis is directed toward programs designed to expand arts education opportunities and effective out-of-school programs for young people.

• Employee Matching Gifts: The Foundation matches contributions made by full-time employees, retirees, agents and directors of Prudential and its subsidiaries to nonprofit organizations on a two-for-one basis from $25 to $100 and on a one-for-one basis from $100 to $5,000 per employee, per year.

• Fund For Families: The Foundation supports select social service organizations delivering front-line services, including food pantries, shelters and those providing emergency assistance. Special emphasis is directed toward national organizations responding to the needs of military families. The program is designed to help families affected by the economic downturn.

• Prudential CARES Volunteer Grants: The Foundation awards grants to nonprofit organizations with which employees, retirees and agents of Prudential volunteer at least 40 hours per year.

Sample grants:

• $100,000 to WNET Channel 13, New York, NY for Celebration of Teaching and Learning, a two-day professional development conference, with a particular focus on leadership (2005).
• $50,000 to Community Foundation of New Jersey, Morristown, NJ for development of a documentary entitled Tom Kean: The Politics of Possibility (2005).
• $47,200 to Sesame Workshop, New York, NY for creation of website for Sesame Street Beginnings: Language to Literacy, a multimedia project to increase awareness and understanding among parents and caregivers about children's language and literacy development (2003).
• $46,000 to From the Top, Boston, MA for implementation of Make Your Own Radio Show curriculum for Newark schools with support of resident artists from Young Audiences of New Jersey (2005).
• $25,000 to Caucus Educational Corporation, Montclair, NJ for continued support for Families in Focus series, educational outreach program that examines critical issues affecting children in New Jersey's urban centers (2003).

Fit for public broadcasting: The Foundation appears to care about the importance of public media for improving the communities where Prudential is located and to recognize its role in promoting sustainable communities and improving social outcomes for community residents. The Foundation has made 26 grants for radio/television projects over the past five years, totaling more than $777,200.

Eligibility: Giving primarily in areas of company operations, with emphasis on:

• Phoenix, AZ.
• Los Angeles, CA.
• Hartford, CT.
• Jacksonville, FL.
• Dubuque, IA.
• Chicago, IL.
• Minneapolis, MN.
• Newark, NJ.
• New York, NY.
• Philadelphia and Scranton, PA.
• Dallas and Houston, TX.

The Foundation is also continuing support for rebuilding efforts in New Orleans.

No support is provided for:

• Discriminatory organizations or veterans', labor, religious, fraternal, or athletic organizations.
• Individuals.
• Advertising, fundraising, or disease-specific general operating support.
• Capital campaigns, annual fund drives or endowments.

Deadline: None.

How to apply: Initial approach should be by online letter of inquiry which can be accessed online. Video submissions are not encouraged. The Board meets in February, June and October. Grants exceeding $200,000 must be approved by the Board.

Giving range: The average gift for radio projects is approximately $30,000. The Foundation has made gifts as high as $7.5 million.

Assets: $91,504,046 (2008)

Total giving: $23,234,633 (2008)

View 2008 Annual Report [PDF].