BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that it was recognized as one of the most community-minded companies in the nation as a part of the Civic 50, a Points of Light initiative that sets the standard for corporate civic engagement and creates a roadmap for companies seeking to best use their time, talent, and resources to improve the quality of life in the communities where they do business. Civic 50 winners were announced this week at Points of Light’s Conference on Volunteering and Service in Detroit, Michigan, where leaders in volunteerism and civic engagement gathered to discuss how social innovation, cross-sector collaboration and citizen engagement can drive change.1
“We are honored to receive this accolade from Points of Light,” said Mike Scannell, senior vice president of Corporate Citizenship and head of the State Street Foundation. “Last year we launched the Boston Workforce Investment Network, or Boston WINs, a $20 million initiative to accelerate our impact on education and workforce development by bringing all of our resources to bear, including our employees’ time and talent. The Civic 50 honor reflects the incredible year-round participation of our employees in Boston WINs and other programs via our global employee giving program, through which employees dedicated more than 116,000 hours in volunteer time to support community organizations last year alone.”
The Civic 50 survey was developed in partnership with a high-profile working group of researchers and industry thought leaders. Dozens of corporate advisors provided strategic guidance on the program’s objectives, including defining indicators, developing methodology, and identifying partners and participants. As a result of this collaborative process, the initiative reflects leading insight and thinking about how corporations can and should connect with communities in a twenty-first century economy.
“Since 2012, we have seen a notable shift in the results from the survey in a direction that speaks to the commitment of American companies to connect values of community service and civic engagement to the culture and operating practices of their business,” said Jennifer Lawson, executive director of the Corporate Institute at Points of Light.
This year’s Civic 50 applicants were evaluated and accrued points based on several criteria, including the quantity and impact of financial and human resources applied to civic improvement, whether internal and external resources are activated to maximize community impact, how a company’s community engagement activities support its business interests, how broadly community engagement is supported and institutionalized within a company’s policies, systems and incentives, and how a company measures the social and business value of its community engagement programs.
The survey was administered by True Impact, a company specializing in helping organizations maximize and measure their social and business value. The survey instrument consists of quantitative and multiple-choice questions that inform the Civic 50 scoring process. The Civic 50 is the only survey and ranking system that exclusively measures corporate involvement in communities.
To learn more about the Civic 50, to see a full list of the winners and to access the full report, “The 2016 Civic 50: Turning Good Intentions into Sound Business Practices, which presents the highlights, trends, benchmarking data and best practices from the 2016 Civic 50,” please visit www.Civic50.org.
1. State Street was named as one of 50 top community-minded companies in America in 2016.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $27 trillion in assets under custody and administration and $2 trillion* in assets under management as of March 31, 2016, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
