TIAA, the financial services organization with a major Charlotte presence, is celebrating a big birthday by giving away $1 million to nonprofits.
New York-based TIAA, which employs more than 3,500 in Charlotte, will announce Monday that it’s celebrating its centennial by honoring 100 individuals in the nonprofit world. The organization will give $10,000 to the nonprofit where they each work.
In 1918, industrialist and philanthropist Andrew Carnegie launched the Teachers Insurance and Annuity Association with a $1 million grant to provide pensions for educators. Today TIAA is best known as a provider of financial services in the academic, research, medical, cultural and government fields but also provides an array of financial products and services to a broader audience.
To be considered for the new program, individuals are invited to submit their own story or recommend someone else at TIAAdifferencemaker100.org. The winners will be announced in October.
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“As a mission-driven company, we have a strong commitment to helping these dedicated individuals achieve their financial goals and build financial security so they can focus on the people and communities they serve,” TIAA CEO Roger Ferguson Jr. said in a statement.
Among other birthday celebrations, TIAA said it will also launch a “100 Days of Difference” campaign in which employees will take part in philanthropic and community service projects around the country. Dozens of those days will be held in Charlotte.
TIAA is a not-for-profit corporation with $1 trillion in assets under management. Long known as TIAA-CREF, it rebranded as just TIAA in 2016.