American Express Named AFP's 2004 Outstanding Corporation

American Express has been named the 2004 Outstanding Corporation by the Association of Fundraising Professionals (AFP), the world's largest association of charitable fundraisers.

The award recognizes a corporation or corporate foundation for exceptional commitment to philanthropy and community involvement. American Express was nominated for the award by the AFP Minnesota Chapter. American Express' financial services division, American Express Financial Advisors (AEFA), based in Minneapolis, was honored by AFP's Minnesota chapter as the 2003 Outstanding Philanthropic Organization (see MCF's News Archives).

In 2003, American Express contributed more than $30 million through its global philanthropic program, including $500,000 through its Economic Independence Fund to support financial literacy. In Minnesota, American Express contributed more than $3.5 million to nearly 100 organizations throughout Minnesota last year. In addition, American Express employees around the world contribute countless hours to volunteer efforts.

"American Express is proud to accept this award," said Jim Cracchiolo, group president - Global Financial Services and chairman and chief executive officer of American Express Financial Advisors. "Good Citizenship is one of our corporate values and an integral part of our culture at American Express. Our employees are active volunteers and make a tremendous difference in our community. They are the ones who truly deserve this award."

Employee involvement is a key way that American Express and its employees at AEFA contribute to the well-being of the communities in which it operates. More than 65 percent of AEFA's employees are community volunteers, and in 2003, AEFA employees in Minnesota donated more than 13,300 hours of community service.

"American Express is more than a world business leader - it's a model corporate citizen, giving back to the communities in which it does business," said Paulette V. Maehara, CFRE, CAE, president and CEO of AFP. "Its contributions and service to organizations and communities across the globe have made a substantial impact on the lives of thousands. AFP is honored to recognize this extraordinary company with our 2004 Outstanding Corporation award."

Three themes encompass American Express' philanthropic philosophy and reflect its funding priorities: cultural heritage, economic independence and community service. Just a few of its gifts in these areas over the past few years include:

• $10 million over 10 years - its largest grant ever - to the World Monuments Fund, an international nonprofit, based in New York, dedicated to preserving the world's cultural and architectural heritage.
     
• More than $1.37 million to 48 organizations in 28 states as part of its Economic Independence Fund that supports the delivery of financial literacy education to under-served adults.
      
• $3.6 million over seven years to the Red Cross to support its disaster relief efforts and lessen the organization's reliance on episodic fundraising for major disasters.

The award will be presented to American Express at the Awards for Philanthropy Banquet during the AFP International Conference on Fundraising in Seattle on March 16, 2004.

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