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For nearly 200 years, Citigroup has played an important role in the lives of people and communities around the world.
In 2005, financial giving by Citigroup, its subsidiaries, and the Citigroup Foundation amounted to more than $126 million. The Foundation alone gave grants of more than $85 million, an increase of 23% over 2004. We made these grants in 85 countries and territories; the Foundation’s international grant making more than doubled from $13.2 million in 2001 to $27.6 million in 2005.
Highlights include:
- Increasing our giving to international and domestic financial education organizations, with more than $22 million in grants. This moves us closer to the ten-year, $200 million global commitment to financial education we made in 2004.
- Investing more than $23 million in educational programs that help develop highly skilled teachers and provide students with educational opportunities that prepare them for fulfilling careers.
- Sponsoring the Global Microentrepreneurship Awards in more than 20 countries. We worked closely with the UN on the International Year of Microcredit 2005 and the awards acknowledge the role of microentrepreneurs in developing countries.
- Financial Education. A natural extension of the work we do, Financial Education programs help people understand how to use their financial resources to improve their lives. In 2005, the Citigroup Foundation supported ?nancial education programs in 65 countries and territories with 612 grants totaling $22,158,250. The grants went to organizations that included Micro?nance Opportunities, National Academy Foundation, Junior Achievement Worldwide, ACORN, Do Something, INSEAD Management Education Foundation, and the National Council on Economic Education. Our work this year comes on the heels of the historic ten-year, $200 million global commitment to ?nancial education we made in 2004. To read more about our Financial Education initiatives, click here.
- Educating the Next Generation. In 2005, the Citigroup Foundation contributed to nonpro?ts in 50 countries and territories to help educate the next generation. The Foundation made 1,147 grants in this area totaling $23,379,800 to organizations that included Management Leadership for Tomorrow, Carnegie Hall, New Visions for Public Schools, Hope Worldwide Indonesia, Children’s Aid Society, and Fundación Educacional y Cultural La Fuente in Chile. For more information, click here.
- Building Communities and Entrepreneurs. With our century-long involvement in thousands of communities around the world, we feel we have a responsibility to create a positive impact in those communities. In 2005, the Citigroup Foundation made 1,316 grants to support organizations that help build and strengthen communities in 58 countries and territories around the world. The Foundation gave to organizations that included the United Nations Foundation, American Red Cross, ACCION International, Mercy Housing, Habitat for Humanity, Local Initiatives Support Corporation, Women’s World Banking, and World Resources Institute, giving a total of $37,186,450 during 2005. For more details, click here.
This was a year with many natural disasters, including the aftermath of the tsunami in late 2004, the hurricanes in the United States, and the earthquake in South Asia. In response, Citigroup’s businesses, the Citigroup Foundation, and our employees committed more than $30 million for disaster relief and for rebuilding communities in the affected areas.
The Power of Our People
In addition to the thousands of employees who contributed to disaster relief efforts, thousands also volunteered for nonprofit organizations about which they care. In 2005, we continued the international expansion of the Volunteer Incentive Program (VIP); the Foundation awarded $2.3 million in VIP and Matching Gifts program grants.
To find out more, view the Citigroup Foundation 2005 Annual Report or visit the Citigroup Foundation Web site.
As of October 2006