NEWPORT BEACH, CA -- (Marketwired) -- 11/19/13 -- The PIMCO Foundation, the charitable arm of global investment management firm PIMCO, has awarded $1.4 million in grants to more than 30 organizations serving some of the most vulnerable and at-risk populations in the U.S and throughout the world.
"The PIMCO Foundation seeks to identify areas of urgent need in our communities, thus enabling PIMCO colleagues to volunteer time and financial resources to worthy projects that help others less fortunate than ourselves," said Mohamed A. El-Erian, Chief Executive Officer and co-Chief Investment Officer of PIMCO and President of the PIMCO Foundation. "We are honored to work with organizations that improve the quality of life of so many in our communities. And we admire and thank them for what they do so effectively."
The Grants Program aligns with the PIMCO Foundation's mission to Engage, Empower and Invest in individuals and communities across the globe. PIMCO is based in Newport Beach, California. The Foundation's website can be accessed directly at www.pimco.com/pimcofoundation and its twitter feed is @pimcofoundation.
In the Engage category, the Foundation sought to support organizations that are addressing economic instability in Orange County and the New York Metro Area.
Specifically, the critical community indicators the Foundation focused on were:
- Workforce development for youth (16-25 years) and military veterans
- Homelessness and housing instability
- Food insecurity
In the Empower category, the Foundation sought to support organizations that are focused on financial literacy or college-readiness.
In the Invest category, the Foundation sought to support organizations that are focused on microenterprise and microfinance in developing countries.
The 2013 grants were awarded to:
Engage:
Bridges Outreach Summit, NJ Community Action Partnership of OC Garden Grove, CA Serve the People Santa Ana, CA Project Dignity Garden Grove, CA New York Common Pantry New York, NY Pathways of Hope Fullerton, CA Thomas House Temporary Shelter Garden Grove, CA Illumination Foundation Irvine, CA Casa Teresa Orange, CA Partnership for the Homeless New York, NY Per Scholas Bronx, NY Taller San Jose Santa Ana, CA Vocational Visions Mission Viejo, CA The Mission Continues St Louis, MO Hart Community Homes Fullerton, CA
Empower:
Network for Teaching Entrepreneurship - NY New York, NY Grameen America New York, NY NFTE LA Los Angeles, CA Moneythink Chicago, IL Accion East New York, NY College Bound Cerritos, CA Student Sponsor Partners New York, NY The Wooden Floor Santa Ana, CA Minds Matter of NYC New York, NY Boys Hope Girls Hope Irvine, CA THINK Together Santa Ana, CA
Invest:
Trickle Up New York, NY Pro Mujer New York, NY BRAC USA New York, NY Shared Interest New York, NY Bpeace New York, NY Nyaya Health New York, NY Mercado Global Brooklyn, NY
Grantees were recently invited to a PIMCO Foundation Grants Celebration Event - in Newport Beach on November 19 and in New York on November 25.
About the PIMCO Foundation
The PIMCO Foundation is the charitable arm of PIMCO, based in Newport Beach, California, which helps people around the world to reach their full potential by engaging, empowering and investing in communities. It carries out its mission by identifying areas of urgent community need and volunteering time and financial resources to support high impact projects and programs; through education with a focus on financial literacy and college readiness; and by investing in people through partnerships fostering economic development.
About PIMCO
PIMCO is a leading global investment management firm, with offices in 11 countries throughout North America, Europe and Asia. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.
Contact:
Mark Porterfield
PIMCO - Media Relations
949-720-NEWS (6397)
