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New York Life Contributes $900,000 to University of Alaska

Multi-Year Grant Brings Total Giving to $1.7 Million Since 2007
 

New York Life today announced a three-year, $900,000 gift to the
University of Alaska (UA) to support educational activities and
scholarship programs for disadvantaged students. New York Life’s
funding to UA has exceeded $1.7 million since the company’s first gift
in 2007.

“The percentage of Alaska high school graduates who choose to attend
college right here in Alaska continues to improve each year, and one
of the key components in attaining their ultimate goal—a degree—often
depends on their preparation in high school,” said UA Vice President
for University Relations and UA Foundation President Carla Beam.
“Support from generous companies such as New York Life provides
opportunities and resources for students to better themselves and
contribute to Alaska’s future.”

New York Life donated to UA under the state’s Education Tax Credit
program, which provides a tax credit to businesses that make
contributions to Alaska universities and accredited nonprofit two- or
four-year colleges.

“New York Life is proud to continue to support UA’s educational
enhancement programs that give motivated and enthusiastic students
from some of the most rural parts of Alaska the opportunity to explore
their interests and further their education,” said Chris Park, vice
president of corporate responsibility for New York Life.  “We’re happy
to fund high-quality educational programming for Native, rural, and
low-income students. As part of a corporate tax credit program, this
gift is a win-win for everyone.”

The funding will support the following:

•  Alaska Summer Research Academy (ASRA) at University of Alaska
Fairbanks (UAF), which is an intensive, two-week summer residential
learning experience for 8th to 12th graders.  The funding provides 45
scholarships over three years for students and supports the “ASRA to
Schools” and the “Saturday Thing” programs, which take the ASRA
programming to classrooms in Fairbanks and to rural villages. This
gift allows 1,600 students to participate in ASRA over three years.

• Rural Alaska Honors Institute (RAHI), which is a program that helps
ease the academic and social transition for students between high
school and college.  The funding supports 45 scholarships for rural,
Native and underserved students to attend six weeks of RAHI programs
at UAF during the summers of 2012, 2013 and 2014.  The grant also
includes continued support for the RAHI Advisory Committee to meet
once per year to provide advice and guidance to the program.

• Additional Scholarships to attend UAF, which includes $1,000 college
scholarships to six students per year – 18 in all – to help with
college expenses for ASRA and RAHI students and alumni.

• The Della Keats Health Sciences Summer Program at University of
Alaska Anchorage, which is a six-week summer residential program for
youth interested in health professions who are from underserved and
under-represented backgrounds. New York Life’s gift will allow 12
students to attend.

In addition, UA and New York Life will collaborate on addressing the
issue of bereavement by engaging the Schools of Social Work and
Education and the Departments of Psychology throughout the UA system
to identify opportunities to support grief and bereavement counseling.

For more information on the University of Alaska’s programs mentioned,
please visit the ASRA Web site at www.uaf.edu/asra; the RAHI Web site
at www.uaf.edu/rahi; and the Della Keats web site at
http://www.uaa.alaska.edu/wwami/programs/dellakeats-udoc.cfm.

 

New York Life Insurance Company, a Fortune 100 company founded in
1845, is the largest mutual life insurance company in the United
States* and one of the largest life insurers in the world. New York
Life has the highest possible financial strength ratings currently
awarded to any life insurer from all four of the major credit rating
agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service
(Aaa), Standard & Poor’s (AA+).
** Headquartered in New York City, New
York Life's family of companies offers life insurance, retirement
income, investments and long-term care insurance. New York Life
Investments*** provides institutional asset management and retirement
plan services. Other New York Life affiliates provide an array of
securities products and services, as well as retail mutual funds.
Please visit New York Life's Web site at www.newyorklife.com for more
information.

 

*Based on revenue as reported by “Fortune 500 ranked within
Industries, Insurance: Life, Health (Mutual),” Fortune magazine, May
23, 2011.  See http://money.cnn.com/magazines/fortune/fortune500/2011/faq/
for methodology.

 

** Source: Third Party Ratings Reports as of 1/25/12.
 

***New York Life Investments is a service mark used by New York Life
Investment Management Holdings LLC and its subsidiary, New York Life
Investment Management LLC.

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