State Street Corp. has reported that its global philanthropy program made 225 grants totaling more than $3.6 million in the first half of 2003. The grants include $355,000 of future commitments, it said.
The program gives to nonprofit organizations that do community service initiatives in four primary areas education and job skills training (53 grants totaling more than $1,259,000); health and human needs (74 grants totaling more than $900,000); youth programs (44 grants totaling more than $574,000); and neighborhood revitalization (21 grants totaling more than $465,000).
In addition, the program selectively supports arts and cultural initiatives (21 grants totaling more than $265,000); civic improvements (10 grants totaling more than $176,000); and management assistance (two grants totaling $9,305).
Included in the totals are two $50,000 grants made from the program's Disaster Relief Emergency Assistance Fund for relief in the Midwest after a series of devastating tornadoes this spring and for a SARS Prevention and Capacity Building Program for migrant workers in Beijing.
State Street's global philanthropy program has established 28 contribution committees in 15 countries. The company, headquartered in Boston, has $8.5 trillion of assets under custody and $901 billion of assets under management.