The Principal Financial Group Foundation, Inc. Pledges $1 Million to Embrace Iowa — 2008 Iowa Disaster Fund
July 3, 2008 (Des Moines, IA) — The Principal Financial Group Foundation, Inc. pledged a total of $1 million to the Embrace Iowa — 2008 Iowa Disaster Fund, a newly established private-sector effort initiated by a request from Governor Chet Culver, which provides assistance through grants to local community foundation organizations in communities across Iowa that have been impacted by recent natural disasters. Matching gifts for employee, agent and retiree contributions are included in this amount.
“Thousands of Iowans are struggling to put their lives back together after a series of devastating weather disasters,” said J. Barry Griswell, chairman of the Principal Financial Group. “This is all about Iowans reaching out to help other Iowans. I've seen the damage first-hand and the magnitude of the disaster is staggering. We're glad to help with this donation from The Principal Financial Group Foundation and we encourage other Iowa businesses to do the same.”
The Embrace Iowa – 2008 Iowa Disaster Fund was recently launched with nearly $3.2 million in contributions and pledges from individuals and businesses. The fund is administered by the Greater Des Moines Community Foundation and grants will be made to other local community foundations in impacted areas where local leaders will determine the greatest areas of need.
The Principal Financial Group Foundation announced in June that donations made by Principal Financial Group employees, retirees and career agents would be matched by the Foundation. These contributions are being accepted through July 11, 2008.
“The recent storms have impacted not only our customers and the communities where we do business, but many of our employees have experienced loss,” said Griswell. “The 2008 Iowa Disaster Fund is a way we can directly offer help, and hope, to those in need.”
The Principal® has offices in the effected areas of Cedar Rapids, Mason City, Waterloo, Cedar Falls and Hiawatha. In addition, several Principal Financial Group employees who live in Parkersburg also lost their homes.
2008 Iowa Disaster Collaborative
Griswell co-chairs the 2008 Iowa Disaster Collaborative with fellow business and community leader Fred Hubbell at the request of Iowa Governor Chet Culver. The 2008 Iowa Disaster Collaborative is a private-sector initiative to help coordinate statewide funding efforts and to work with local community leaders to identify and address unmet needs for assistance as a result of natural disasters in Iowa. The collaborative also includes Cedar Rapids community leaders Pat Baird, chairman of Aegon, Clay Jones, chair of Rockwell-Collins, University of Iowa President Sally Mason of Iowa City and Amy Nimmer, president of the John Deere Foundation of the Quad-Cities.
About the Principal Financial Group Foundation, Inc.
The Principal Financial Group Foundation, Inc. was formed in 1987 to help strengthen communities in which the Principal Financial Group has a major employee presence. Through grants, matching gifts, in-kind contributions, volunteer efforts and partnerships the Principal Financial Group and the Principal Financial Group Foundation, Inc. gives to those in need by supporting affordable housing, health and human services, educational programs, cultural opportunities and community initiatives.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $304.2 billion in assets under management2 and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance products and services issued by Principal Life Insurance Company.
1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2) As of March 31, 2008
