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Northern Trust Releases Latest Philanthropic Impact Report

via Business Wire

Northern Trust (Nasdaq: NTRS) donated more than $14 million last year to non-profit organizations around the world that are working to provide food and housing security, healthcare access and educational opportunities.

Additionally in 2024, Northern Trust contributed $70 million to the Northern Trust Foundation for future charitable gifts, and employees gave nearly 120,000 hours of their time to support charitable organizations globally. Over the past decade, Northern Trust has donated $240 million to nonprofits worldwide.

These key data points – and some of the stories behind the numbers – are detailed in Northern Trust’s 2024 Philanthropic Impact Report.

“This report outlines important work done by Northern Trust and our employees in all corners of the globe, supporting individuals with food and housing security, healthcare access and educational opportunities,” Chief Social Impact Officer Shana Hayes said. “Studies show that when essential human needs are met, benchmarks of long-term financial success—career opportunities, savings and home ownership—rise substantially, and paths to improved opportunity become more accessible. In support of those paths, Northern Trust continues to deploy our long-term community investment strategy designed to drive individual advancement and broader wealth creation.”

“I’m also thrilled that our employees set a new record for volunteerism in 2024, dedicating time during our global month of service and throughout the year to benefit 2,000 organizations and countless individuals.”

In all, Northern Trust’s Philanthropic Impact in 2024 included:

  • Food Security: 4,255,935 meals provided
  • Affordable Housing: 252,189 nights of safe shelter
  • Quality Education: 47,871 students received guidance and education
  • Accessible Healthcare: 158,326 individuals received healthcare services

Northern Trust offers staff two paid days annually to volunteer with charitable organizations and awards grants for eligible charitable organizations where our employees volunteer. During “Achieving Greater Together,” our signature month of service in October, employees hosted blood donation drives in India, walked shelter dogs in Luxembourg, packed hygiene kits for the unhoused in the Philippines, assisted with food donations in the United Kingdom and prepared meals at local Ronald McDonald Houses in the U.S.

In all, staff contributed a record 61,000 hours of service during the month for more than 1,600 nonprofit organizations in 20 countries. Northern Trust also donates 50 meals for every hour employees volunteered during the month of October through The Global FoodBanking Network, European Food Banks Federation and Feeding America. This year, Northern Trust contributed more than 3 million meals.

Examples of work Northern Trust has helped fund, as highlighted in the report, include:

Food Security

Citymeals on Wheels, New York City

In New York City, many housebound seniors suffer from hunger and loneliness. Citymeals on Wheels steps in to ensure older people have continuous access to food every day of the week, backed by donors like Northern Trust. Because Citymeals’ staff and volunteers deliver door-to-door, they provide a lifeline of vital human contact. Last year, they delivered over 2 million meals.

“Volunteers don’t just deliver nourishment but compassion to our neighbors, too many of whom live alone,” said Northern Trust Wealth Management Northeast President Carlos Arrizurieta, who serves on Citymeal’s board.

Housing

Raphael House, San Francisco, California

Raphael House helps low-income and unhoused families build better lives through stable housing and financial independence. Raphael House assists each family to search for a permanent home, while providing them with a private room, meals and clothing. Families also participate in a variety of ongoing supportive programs, such as financial literacy and career development, so they can work toward self-sufficiency. The Adopt-a-Family program gave 165 families essential resources and holiday assistance in 2024, with funding from Northern Trust and others. Northern Trust Wealth Strategist Richard Toft is part of the Raphael House executive leadership council.

“I can’t express in words how much Raphael House has saved each of us when we were in our darkest moments,” said one Raphael House client. “Thanks so much again a million, zillion times over.”

Education

Circle Collective, London

Circle Collective supports young people facing barriers to permanent, life-changing work. It gives them the tools to achieve financial independence for the longer term as well as on-the-job experience to boost skills and self-belief. In the past year, its training assisted 67 young people, including two corporate insight sessions in which Northern Trust employees gave interactive workshops on presentation skills and career paths. Circle Collective also took part in a recruitment session at Northern Trust’s London office where varied teams described potential job opportunities. These live sessions with seasoned professionals are key to building young people’s confidence and set them on the path to success.

“The insights from Northern Trust gave me a clearer perspective and the confidence to make better decisions,” said one Circle Collective participant. “The presentation part especially helped me feel more confident for my interviews and in speaking with professionals.”

Healthcare

Suhrud Mandal, Pune, India

Every year, 25,000 babies in India are born with hearing impairments, leading to huge learning, social and development challenges. Early intervention—hearing aids, language training and tailored education—can change their future and Suhrud Mandal in Pune has been dedicated to supporting such children since 1973. Four special schools for 450 students provide not just basic reading, writing and math but also sports, arts and vocational skills, helping pupils gain confidence and independence. Northern Trust’s support in the past year has allowed the schools to upgrade classrooms, add new computers and enhance training facilities. Funding has also provided essential equipment and meals, ensuring the continuity of the school.

“Hearing aids are precious for deaf children, and these are digital and tailormade to take into consideration the hearing impairment of each child,” said one teacher at Suhrud Mandal. “Hearing-impaired students are now able to have conversations with others, making them feel happier and more connected.”

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2024, Northern Trust had assets under custody/administration of US$16.8 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

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