avatar Metlife, Inc. Finance, Insurance, And Real Estate
  • Location: New York 
  • Founded:
  • Website:


  • Page 1

    CORPORATE CITIZENSHIP REPORT . orld w he undt ro i es a munit M ak i com ng a positive difference in

  • Page 2

    < Table of Contents > ‹ 1 › Contributions & Investments ‹ 2 › A Message From MetLife’s Chairman ‹ 4 › MetLife Foundation Year in Review ‹ 8 › Corporate Citizenship Programs ‹ 11 › MetLife & The Environment ‹ 12 › Supplier Diversity Program ‹ 13 › Awards & Recognition ‹ 14 › Report of Contributions ‹ 18 › Report of Investments ‹ 20 › MetLife Foundation Audited Financial Statement ‹ 25 › Board of Directors

  • Page 3

    < Contributions & Investments > Source MetLife Foundation $39,800,039 MetLife $3,158,832 MetLife International 7 * 21 36 61 00 00 38 00 $1,761,338* 00 57 6, ,1 ,2 ,0 ,0 ,3 ,0 70 75 42 93 35 61 30 ,3 ,9 17 59 0, ,4 ,5 ,0 ,5 ,7 ,5 $1 $9 $8 $8 $3 $1 $1 $8 $2 $44,720,209 Investments** ns irs n th re g l s ts ns na ay io tin Social and Community Investments en ltu al fa io io io at W He as ut Af Ev ut Cu at uc dc d rib rn ib ng vic $489,000,000 ite Ed oa nt te tr isi Ci Un on Br In Co ra e ic nd lC te Lif bl Renewable Energy Investments Fu ia ta et Pu fil To M Af $915,000,000 Sustainable Real Estate Investments $1,200,000,000 * Includes in-country giving, company and foundation ** Based on 2010 investment authorizations 2010 CORPORATE CITIZENSHIP REPORT ‹1›

  • Page 4

    < A Message From MetLife’s Chairman > MetLife and MetLife Foundation have a long and rich history of making a difference in the lives of individuals and supporting the growth of communities, while working closely with organizations across the globe to address important societal issues, including aging, youth development and the environment. We are proud that our efforts as both a leading global life insurance provider and a socially responsible company have been widely recognized by governmental agencies, advocacy groups and the media. In 2010, we partnered with nonprofit organizations to help individuals still affected by the global economic downturn — giving to food banks, as well as supporting economic development and affordable housing programs. We provided much needed support to seniors and our youth — two generations that are critical to our future. The aging population is a significant and growing part of our society, and we are committed to help ensure that they remain vital contributors to our communities. We donated to programs that addressed civic engagement, promoted caregiving and bolstered our communities. Alzheimer’s research continued to be a priority for MetLife Foundation, and 2010 was the 25th year of our Awards for Medical Research program aimed at finding a cure for this devastating illness. The development of today’s youth is a critical element for a productive global community. We are supporting programs that enable and encourage children to achieve their full potential, such as working closely with the Asia Society on a global learning initiative. Contributions that promote student achievement, mentoring, career readiness and after-school programs are all core focuses of MetLife. AWARDS FOR MEDICAL RESEARCH IN ALZHEIMER’S DISEASE. THE AWARDS SUPPORT SCIENTISTS WHO HAVE MADE SIGNIFICANT CONTRIBUTIONS TO THE UNDERSTANDING OF ALZHEIMER’S DISEASE AND PROVIDE THEM WITH FUNDS TO PURSUE THEIR RESEARCH. SINCE 1986, THE FOUNDATION HAS AWARDED OVER $12 MILLION IN GRANTS TO 67 SCIENTISTS. ‹2›

  • Page 5

    We recognize that the health and wellness of our planet is the foundation of a sustainable and vibrant future. MetLife is taking significant actions by reducing carbon emissions, implementing recycling programs in our facilities and conserving natural resources by investing in renewable energy projects. We have built upon our existing portfolio of investments in wind, solar and geothermal projects with $915 million of new investments in such ventures. Newsweek magazine recognized these efforts in its annual ranking of the top environmental companies with MetLife being the highest-ranking life insurer on the list. In 2010, MetLife significantly increased its presence outside the U.S. and now has operations in over 60 countries. We are excited about our expanded reach and the opportunities it presents for MetLife and MetLife Foundation to strengthen the global community. We look forward to working together with both our longstanding partners as well as with new organizations and individuals that share our passion and resolve to make a difference in the lives of people and in the communities where they live and work. C. Robert Henrikson Chairman of the Board, President and Chief Executive Officer 2010 CORPORATE CITIZENSHIP REPORT ‹3›

  • Page 6

    < MetLife Foundation Year in Review > In 2010, MetLife Foundation continued to add depth to its work in the United States while funding a broader set of international activities. MetLife’s worldwide expansion brings the Foundation closer to the pressing needs of the global community and reaffirms our commitment both here in the United States and abroad to building a more secure future for individuals and communities. As we reflect on the past year, we celebrate the inspiring and innovative work of the nonprofit community as they seek to address a range of challenging social issues in a difficult economic environment. These organizations share our optimism that with the right resources and partnerships we can make a positive difference in communities around the world. With contributions of over $44 million to nonprofit organizations in 2010, MetLife and MetLife Foundation increased their support for health, education, civic and cultural initiatives. Highlights of our 2010 giving along with a complete listing of contributions can be found on the pages that follow. AGING AND ALZHEIMER’S Increasingly, older adults are recognized as key assets in sustaining and strengthening our communities. Aging also presents many challenges, with the devastating impact of Alzheimer’s disease on patients and their caregivers the most striking. We are committed to Alzheimer’s disease research, showcasing effective caregiving programs and supporting activities that allow older adults to remain in their homes and engaged in their communities. Highlights included: > The 25th year of our fight to find a cure for Alzheimer’s disease through our Awards for Medical Research program which provides research grants to leading scientists in the field. > New Alzheimer’s outreach programs focused on the Hispanic community including an early detection Spanish-language workshop and Alzheimer’s factbook, public radio spots and a survey of Hispanic perceptions of the disease. > National Family Caregiving Awards which showcase community-based organizations bringing new thinking and innovative approaches to caregiving programs. > Arts and the Mind, a documentary to be developed by Twin Cities Public Television, that will demonstrate the tangible impact of the arts on cognitive abilities, physical fitness and mental health of older adults. ‹4›

  • Page 7

    > Development of new research to track the emergence of Encore Careers and understand barriers that inhibit older JUNIOR ACHIEVEMENT. adults from pursuing new careers and volunteering. WE MARKED THE 10TH > Work with the Council for Adult and Experiential Learning to provide training for community college career advisors on the needs of older workers and define engaging career pathways for these workers. ANNIVERSARY OF OUR METLIFE EDUCATION AND YOUTH DEVELOPMENT FOUNDATION ENTREPRENEURIAL Classroom education and enriching after-school programs continue to be a core focus of MetLife Foundation. Preparing AWARDS WHICH RECOGNIZE students for access to and success in college took on even greater importance during the year and we remain committed to the proposition that all students should graduate from high school both college and career ready. In addition, the JUNIOR ACHIEVEMENT OPERATIONS unique needs and interests of middle school students remained central to our youth development activities along with WORLDWIDE THAT DEMONSTRATE new initiatives that extend out-of-school programs into the summer months. ENTREPRENEURIAL SPIRIT AND Our initiatives will : > Increase student success in postsecondary education by aligning the GED high school equivalency INNOVATION. FOR OVER 30 YEARS, test and test preparation with standards for college and career readiness. METLIFE FOUNDATION HAS WORKED > Engage the nation’s youth in scientific learning and discovery through the groundbreaking Science Learning Initiative at five of the nation’s leading science museums. WITH JUNIOR ACHIEVEMENT > Allow The National Guild of Community Arts Education to fund innovative arts education partnerships between TO PREPARE YOUNG PEOPLE TO community arts organizations and public schools to increase the availability of high-quality arts education. > Increase student achievement through a partnership with New Leaders for New Schools to build a knowledge SUCCEED IN A GLOBAL ECONOMY. system to identify, document and share examples of effective school leadership using multimedia case studies. > Expand City Year’s After-School Heroes program, a civic engagement and leadership development program where young adults guide middle school students in activities that encourage civic participation. 2010 CORPORATE CITIZENSHIP REPORT ‹5›

  • Page 8

    < MetLife Foundation < Year Section in Review header > BASIC NEEDS As the economy struggles to recover and generate new jobs, many in our communities continue to lack basic necessities. Once again, providing food and shelter to those most vulnerable — children, older adults and the economically disadvantaged — was a focus of our giving. Key programs include: > Providing support to 12 food banks across the country. > Partnering with Common Ground to expand its supportive housing model which combats homelessness by providing safe and affordable housing linked with supportive social services. > The MetLife Foundation Awards for Excellence in Affordable Housing, now in its 15th year, recognizes exemplary models of affordable, green housing for older adults. INTERGENERATIONAL Bringing together the creative energy and varied perspectives of different generations provides an innovative platform to promote learning and address pressing community issues. Bridging age-imposed barriers has a transformational impact in our classrooms, cultural centers and throughout the community. We have developed a set of programs that unleash the power of these intergenerational experiences. In 2010 we: > Provided support for the expansion of Jumpstart’s Community Corps which recruits, trains and places older adults as skilled reading mentors for high need, preschool students, helping them close gaps and enter school ready to learn and succeed. > Worked with Zero to Three to develop an online resource for the many grandparents who provide essential childcare and are key influencers in children’s early development. > Developed Reading for Generations, a guide for grandparents that provides literacy-oriented activities older adults can do with young children. > Introduced the Intergenerational Shared Site Excellence Awards with Generations United to provide funding to support and strengthen shared site programs that serve both younger and older generations in a single location. ‹6›

  • Page 9

    > Launched MetLife Healthy Families Program at New York Botanical Garden, a new initiative focused on health LIVE FROM LINCOLN CENTER. and nutrition programming for both parents and children. FOR THE PAST 15 YEARS, > Sponsored programs at museums and performing arts centers across the country encouraging parents and children to experience the arts as a family. METLIFE’S SUPPORT HAS BROUGHT GLOBAL COMMUNITY THE WORLD’S GREATEST ARTISTS We are committed to building a global community that fosters rich dialogue and engenders a deep understanding and TO AUDIENCES ACROSS THE appreciation for our cultural traditions. Our international giving continues to grow steadily while our giving at home has a strong emphasis on the benefits of international exchange and global awareness. Over the past year we: COUNTRY. THE EMMY AWARD- > Extended our open space and playground program beyond the United States by funding a KaBOOM! WINNING PROGRAM, THE ONLY playground which will serve 6,000 low-income children in Mexico City. > Expanded our support for Sesame Workshop to promote its nutrition and healthy habits educational SERIES OF LIVE BROADCAST outreach program in Mexico and India. PERFORMANCES ON AMERICAN > Focused on the global impact of Alzheimer’s by funding programs with Alzheimer’s Disease International TELEVISION, IS SEEN ON OVER in 12 countries to expand general awareness and education. > Funded international expansion of the Junior Achievement Exploring Economics curriculum with grants to 300 STATIONS IN ALL 50 STATES. Junior Achievement members in Europe and Africa for translation and cultural adaptation. > Partnered with Asia Society to provide professional development and models for instruction to help American educators and students increase their global awareness. A. Dennis White President and Chief Executive Officer MetLife Foundation 2010 CORPORATE CITIZENSHIP REPORT ‹7›

  • Page 10

    < Corporate Citizenship Programs > Throughout its history, MetLife has been an involved corporate citizen. Today, this tradition is evident in our business practices, investments, the volunteer activities of MetLife associates and MetLife Foundation’s contributions to nonprofit organizations. We reaffirm our commitment to good corporate citizenship and pledge our resources and energies to making a positive difference in communities around the world. HEALTH The health program supports nonprofit groups that help people of all ages lead healthy lives and make informed decisions about their health. The focus is to: > Support Alzheimer’s disease research and increase public awareness and understanding of the disease. > Address changing demographics and the aging of the population through support of healthy aging, aging in place, caregiving and mental fitness programs. > Promote healthy lifestyles through nutrition and physical fitness programs, especially among children. CIVIC AFFAIRS The civic affairs program supports nonprofit groups working to build socially and economically viable communities. The focus is to: > Revitalize urban neighborhoods through affordable housing, open space and programs that address basic needs. > Increase after-school mentoring and financial literacy opportunities for young people. > Promote civic engagement and volunteering, particularly among young people and older adults. EDUCATION The education program supports national nonprofits with local reach working to increase student achievement in public schools and higher education. The focus is to: > Develop effective teaching and collaborative school leadership. > Prepare students for access to and success in college, particularly during the crucial first year. > Address major findings from the annual MetLife Survey of the American Teacher. ‹8›

  • Page 11

    CULTURE AND PUBLIC BROADCASTING METLIFE SURVEY OF THE The culture program supports nonprofit organizations working to strengthen education, promote understanding AMERICAN TEACHER. FOR 27 of diverse cultures and build livable communities through access to the arts. The focus is to: > Reach broad audiences through inclusive programming. YEARS, THE ANNUAL SURVEY HAS > Make the arts more accessible for people of all ages and backgrounds. HELPED TO STRENGTHEN EDUCATION > Enhance education and lifelong learning. FOR ALL OF OUR CHILDREN BY The public broadcasting program supports informative and entertaining programming on television and radio featuring the arts, health and aging issues and financial literacy. SHARING THE VOICES OF THOSE VOLUNTEERISM CLOSEST TO THE CLASSROOM. MetLife encourages employees to contribute their time and talent to improve their communities and help people in need. BY EXPLORING TEACHER’S OPINIONS MetLife Foundation supports the volunteer efforts of associates through: > The Volunteer Ventures program, which provides grants to nonprofit organizations where individual MetLife associates AND BRINGING THEM TO THE volunteer, and the Volunteer Project Fund, which assists the team activities of MetLife volunteers. ATTENTION OF EDUCATORS, POLICY > Strategic partnerships with national nonprofits to develop and support volunteer activities by MetLife associates in multiple locations. MAKERS AND THE PUBLIC, THE INTERNATIONAL SURVEY INFORMS OUR COUNTRY’S MetLife is committed to being a good corporate citizen in the countries where we operate. International programs PASSIONATE DISCOURSE ON THE are supported through: > In-country contributions and volunteer efforts that improve communities, promote good health and increase FUTURE OF EDUCATION. opportunities and education for those in need. > Partnerships between MetLife Foundation and nonprofits that operate in the US and internationally on global initiatives in areas of focus, such as community improvement, health, education, youth development and the arts. 2010 CORPORATE CITIZENSHIP REPORT ‹9›

  • Page 12

    < Corporate Citizenship Programs > INVESTMENT PROGRAMS MetLife’s investment portfolio finances projects that benefit the community. > Social and Community investments revitalize neighborhoods and strengthen communities. Through the use of debt and equity investments, MetLife and MetLife Foundation support projects that improve the quality of life in the most basic ways, including affordable housing, education, economic and community development and health care. > Renewable Energy investments focus on ventures that will have a positive impact on the environment. MetLife recognizes the importance of renewable energy sources and invests in a wide range of wind, solar and geothermal projects which bring much needed renewable energy to cities and towns around the world. > Sustainable Real Estate investments bring an environmental perspective into MetLife’s real estate portfolio by providing commercial loans on LEED certified properties as well as making equity investments in LEED certified properties. COMPETITIVE AWARDS PROGRAMS MetLife Foundation competitive awards programs are a pillar of our giving program. These awards programs serve as an effective vehicle for engaging the community, surfacing best practices, identifying innovative organizations and enabling our funding to have an impact at the local level. We have over twenty competitive awards programs spanning the arts, education, housing and youth development. Representative programs include: MetLife Foundation Museum and Community Connections Program MetLife Foundation Community College Excellence Awards MetLife Foundation Entrepreneurial Awards MetLife Foundation Awards for Medical Research in Alzheimer’s Disease MetLife Foundation Creative Aging Awards MetLife Foundation Community-Police Partnership Awards ‹ 10 ›

  • Page 13

    Building a secure future for individuals and communities requires our commitment to preserving the environment. < MetLife & The Environment > Through an effective energy management policy, investments in renewable energy ventures and the integration of energy efficient practices into our operations, MetLife embraces its role as a responsible corporate citizen. In collaboration with our associates, customers and business partners, we are making a positive impact on the environment and working to ensure a safer, healthier world for future generations. 2010 HIGHLIGHTS > MetLife was ranked among the top 50 in Newsweek magazine’s annual environmental rankings of the 500 largest U.S. companies and was the highest ranking life insurer on the list. > Four MetLife sites earned certification by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System, bringing the total company owned and/or operated LEED certified properties to six. > With all 14 of MetLife’s corporate owned and/or operated U.S. buildings Energy Star certified, MetLife was named to the Environmental Protection Agency’s (EPA) list of ENERGY STAR Leaders. > MetLife invested $915 million in renewable energy projects, including solar, wind and geothermal. > The company made new investments of $1.2 billion in commercial mortgage loans on LEED certified properties. In addition, MetLife holds equity stakes in 17 LEED certified properties with a market value of $2.1 billion. > Through our Managed Print Service program we reduced printer-related energy usage by 90% and reduced printer-related waste sent to landfills by 70%. > MetLife has reduced its energy consumption by more than 16% over the past five years. At MetLife sites, almost 60% of the total power used comes from non-carbon to low emitting fuels and we purchase up to 30% of our electric utilities from wind farms. > The company reduced carbon emissions by 12% in 2010 and by nearly 40% since 2005. 2010 CORPORATE CITIZENSHIP REPORT ‹ 11 ›

  • Page 14

    < Supplier Diversity Program > MetLife’s commitment to programs that promote access and inclusion is reflected in our longstanding commitment to working with a diverse supplier base. MetLife’s Supplier Diversity Program strives to develop and maintain relationships with certified diverse business partners to not only promote their long-term success but also to bolster the economic strength of diverse communities. Since the program’s inception in 2003, MetLife has spent over $680 million with diverse businesses. In 2010 alone, MetLife spent $120 million with diverse business partners, the largest share since the program began. In order to promote the growth and development of diverse businesses, we continually partner with supplier diversity advocacy groups, government agencies, chambers of commerce and other professional organizations to identify qualified suppliers that meet the needs of our business. In addition, MetLife is a proud corporate sponsor of several organizations focused on providing opportunities for diverse businesses, including National Minority Supplier Development Council (NMSDC), Women’s Business Enterprise National Council (WBENC) and National Gay & Lesbian Chamber of Commerce (NGLCC). MetLife has consistently been recognized for our support of women-owned businesses by various organizations, including the Women Presidents’ Educational Organization. Recognitions such as these affirm our belief that our commitment to continually increase our spend with diverse businesses advances our vision to build financial freedom for everyone. 21ST CENTURY GED INITIATIVE. MORE THAN 36 MILLION AMERICANS LACK A HIGH SCHOOL DIPLOMA OR ITS EQUIVALENT. WITH OUR $3 MILLION GRANT TO THE AMERICAN COUNCIL ON EDUCATION WE ARE SUPPORTING THE ALIGNMENT OF GED INSTRUCTION AND TESTING TO STANDARDS FOR COLLEGE AND CAREER READINESS AND HELPING PREPARE ALL STUDENTS TO MEET THEM. ‹ 12 ›

  • Page 15

    The consistent recognition we receive for our achievements in workplace culture, diversity, training and sustainability < Awards & Recognition > highlight our dedication to our associates, customers and community. These accomplishments are driven by our associates’ focus and passion for improving the workplace and society. In 2010 our efforts were acknowledged by the following organizations: > Newsweek’s Green Rankings > Fortune’s World’s Most Admired Companies > Diversity Inc.’s Top 50 Companies for Diversity > Working Mother Magazine’s 100 Best Companies > Human Rights Campaign Foundation’s Corporate Equality Index — Perfect Score > National Association for Female Executives’ Top Companies for Executive Women PARKS AND PLAYGROUNDS ARE ESSENTIAL BUILDING BLOCKS > Latina Style 50 Best Companies for Latinas FOR HEALTHY COMMUNITIES. AS EARLY AS 1924, METLIFE > DiversityMBA 50 Out-Front Companies for Diversity Leadership PARTNERED WITH THE PLAYGROUND AND RECREATION ASSOCIATION > Hispanic Business Magazine’s Top 60 Diversity Elite > Working Mother Magazine’s Best Companies for Multicultural Women OF AMERICA TO BRING COMMUNITY PLAYGROUNDS TO CITIES > Training Magazine’s Training Top 125 Companies ACROSS THE COUNTRY. METLIFE FOUNDATION HAS EXPANDED > Dave Thomas Foundation for Best Adoption-Friendly Workplaces ON THAT LEGACY TODAY THROUGH PROGRAMS WITH KABOOM! AND THE TRUST FOR PUBLIC LAND. THIS YEAR, METLIFE ASSOCIATES BUILT FIVE PLAYGROUNDS INCLUDING A NEW PLAYGROUND SERVING OVER 6,000 LOW-INCOME CHILDREN IN MEXICO CITY. 2010 CORPORATE CITIZENSHIP REPORT ‹ 13 ›

  • Page 16

    < Report of Contributions > HEALTH Health Education and Prevention CIVIC AFFAIRS Foundation 8,510,261 American Academy of Foundation 10,485,267 Family Physicians Foundation 100,000 Company 220,950 * contributions Company 32,000 * Total: 8,542,261 American Academy of Pediatrics 275,000 Total 10,706,217 American Dietetic Aging Issues Association Foundation 235,000 Community Betterment Alliance for Aging Research 150,000 American Psychological Association 150,000 ACCION USA 50,000 Alzheimer’s Association 680,000 American School Health Association 50,000 American Red Cross of Alzheimer’s Association of Northeastern New York 5,000 Campaign for Tobacco Free Kids 50,000 Massachusetts & New Hampshire 5,000 ( c ) AmeriCares Foundation 100,000 Children’s Health Fund 125,000 Alzheimer’s Association, Bigelow Laboratory for Ocean Sciences 10,000 Doctors Without Borders 12,000 ( c ) NYC Chapter 30,000 BoardSource 10,000 Floating Hospital 25,000 Alzheimer’s Disease International 100,000 Boston Community Capital 50,000 Grantmakers in Health 8,500 Alzheimer’s Survey 22,500 Broadway Housing Communities 25,000 National AIDS Fund 225,000 Awards for Medical Research 724,261 Catalyst 12,500 ( c ) New York Academy of Medicine 75,000 American Federation Center of Hope (Haiti), Inc. 10,000 ( c ) for Aging Research 220,000 New York Blood Center 150,000 Chicago Community Loan Fund 50,000 American Society on Aging 225,000 Progressive Agriculture Foundation 25,000 Chile Earthquake Relief Efforts 150,000 Center for Intergenerational Learning 150,000 SafeKids Worldwide 75,000 Citizens Crime Commission Civic Ventures 330,000 Seattle Children’s Hospital 10,000 ( c ) of New York City 25,000 Council for Adult and St. Jude Children’s Research Hospital 5,000 ( c ) Common Ground 250,000 Experiential Learning 350,000 Substance Abuse Initiatives Community Development Initiative Dana Alliance for Brain Initiatives 80,000 Educational Alliance 35,000 Asian Community Fisher Center for Family Health Productions 75,000 Development Corporation 20,000 Alzheimer’s Research Foundation 240,000 Girls, Inc. 80,000 Beyond Shelter 40,000 Generations United 250,000 Hazelden 75,000 Bickerdike Development Corporation 50,000 Gerontological Society of America 75,000 Outreach Project 25,000 Chinatown Community Grantmakers in Aging 5,000 Partnership for a Development Center 50,000 International Longevity Center 75,000 Drug-Free America 350,000 Codman Square Neighborhood Museum of Modern Art 200,000 Substance Abuse Development Corporation 40,000 National Alliance for Caregiving 325,000 Education Campaign 1,200,000 East Bay Asian Local National Center for Creative Aging 210,000 Development Corporation 40,000 National Council of La Raza 150,000 Fifth Avenue Committee 50,000 National Council on the Aging 235,000 Greater Southwest National Stroke Association 25,000 Development Corporation 45,000 New York Academy of Medicine 150,000 LTSC Community Development Corporation 45,000 SAGE 25,000 Northern Manhattan University of Pennsylvania 75,000 Improvement Corporation 30,000 Nuestra Communidad Development Corporation 40,000 Women’s Housing and Economic Development Corporation 50,000 *Grants made by the Company are indicated by ( c ). ‹ 14 › All other grants are made by the Foundation.

  • Page 17

    Community Loan Fund of New Jersey 35,000 Neighborhood Housing Services National Conference for < HEALTH Community Reinvestment Fund 75,000 of New York City 75,000 Community and Justice 10,000 Corporation for Supportive Housing 225,000 Neighborhood Reinvestment Corp. 50,000 Network for Teaching < CIVIC AFFAIRS Count Me In for Women’s New School 50,000 Entrepreneurship 150,000 Economic Independence 85,000 New York City Partnership Foundation 70,000 Out-of-School Time Initiative EDUCATION Enterprise Community Partners 275,000 New York University Furman Center After-School All-Stars, Los Angeles 50,000 Food Bank Initiative for Real Estate and Urban Policy 25,000 Boys & Girls Clubs of Providence 40,000 CULTURE Atlanta Community Food Bank 30,000 Regional Business Council 5,000 Educational Alliance 50,000 PUBLIC BROADCASTING Community FoodBank Regional Plan Association 25,000 Hamilton-Madison House 50,000 of New Jersey 75,000 ReServe Elder Service 50,000 LACER Afterschool Programs 50,000 INVESTMENTS Feeding America of Tampa Bay 35,000 Riverfront Recapture 10,000 Providence After School Alliance 50,000 Food Bank for New York City 175,000 Ronald McDonald House at Stanford 15,000 ( c ) Queens Community House 50,000 METLIFE FOUNDATION Food Bank of Central New York 20,000 Rosie’s Place 10,000 St. Louis Public Library Foundation 30,000 AUDITED FINANCIAL Foodshare, Inc. 30,000 Second Harvest Food Bank Union Settlement Association 50,000 STATEMENT Greater Boston Food Bank 45,000 of Central Florida 7,000 ( c ) YMCA of Metropolitan Atlanta 50,000 North Texas Food Bank 40,000 Special Olympics Rhode Island 5,000 ( c ) YWCA Greater Rhode Island 30,000 Northern Illinois Food Bank 20,000 Stanford Center on Longevity 65,000 ( c ) Parents, Families and Friends Rhode Island Community Tabor 100 5,000 ( c ) of Lesbians and Gays 35,000 ( c ) Food Bank 35,000 United Way of Greater New Orleans 38,788 Partnership for After School Education 55,000 St. Louis Area Food Bank 25,000 Veterans Across America 50,000 Police Athletic League 75,000 The Foodbank, Inc. 20,000 Youth Development Resources for Children Haiti Earthquake Relief Efforts 250,000 Advertising Council 25,000 with Special Needs 45,000 HomeFront 50,000 Afterschool Alliance 260,000 Summer on the Hill 5,000 Housing & Community Development B.E.L.L. Foundation 70,000 Take Our Daughters and Sons Network of New Jersey 50,000 Boston Foundation 40,000 to Work Foundation 15,000 ( c ) Lawyers Alliance for New York 10,000 Boys & Girls Club of Trenton/ Women In Need 25,000 Living Cities 200,000 Mercer County 5,000 Zero to Three 550,000 Local Initiatives Support Corporation 610,000 Boys & Girls Clubs of America 102,000 Employee Volunteering Low Income Investment Fund 100,000 Boys & Girls Clubs of Hartford 75,000 Employee Volunteer Initiatives 601,110 Massachusetts Association of Camp Courant 10,000 Employee Volunteer Initiatives – Community Development Corporations 10,000 City Year Inc. 300,000 Company 11,450 ( c ) National Association of Community Funds, Inc. 50,000 Employee Volunteer Area Agencies on Aging 135,000 Horizons at Green Farms Academy 2,500 Strategic Partnerships 262,869 National Center for State Courts 10,000 Human Rights Campaign Foundation 25,000 ( c ) National Council of La Raza 100,000 iMentor 200,000 United Ways National Organization on Disability 150,000 Junior Achievement 553,000 Local United Ways 1,350,000 National Sept 11 Memorial United Way International 180,000 2010 KaBOOM! 100,000 and Museum 1,000,000 Total 1,530,000 Midland Foundation 10,000 National Urban Fellows 25,000 National 4-H Council 275,000 National Urban League 500,000 Neighborhood Development Trust Fund 15,000 ( c ) 2010 CORPORATE CITIZENSHIP REPORT ‹ 15 ›

  • Page 18

    < Report of Contributions > EDUCATION Community College Excellence Award Brooklyn Academy of Music 50,000 Foundation 9,099,011 Chaffey College Foundation 50,000 Brooklyn Museum of Art 15,000 ( c ) Company 376,125 * Clover Park Technical College 50,000 Children’s Museum of Utica 8,000 contributions Total 9,475,136 Lewis & Clark Community Chinese American Museum 50,000 College Foundation 50,000 Cityfolk 20,000 Teacher Effectiveness Education Trust 250,000 Des Moines Art Center 15,000 American Association of Colleges of Teacher Education 200,000 Hispanic Association of Colleges Detroit Science Center 25,000 and Universities 10,000 GableStage 15,000 Asia Society 500,000 INROADS, Inc. 23,000 ( c ) Gamm Theatre 10,000 Center for Teaching Quality 240,000 Matching Gifts 920,856 Goodman Theatre 15,000 Center on School, Family & Community Partnerships 165,000 NAACP 25,000 ( c ) Grantmakers in the Arts 5,000 Citizen Schools 300,000 National FFA Foundation 21,250 Guggenheim Museum 75,000 Communities in Schools 250,000 National Hispanic Scholarship Fund 30,000 Guggenheim Museum 20,000 ( c ) Developmental Studies Center 250,000 National Medical Fellowships 70,000 High Museum of Art 50,000 Editorial Projects in Education 250,000 United Negro College Fund 50,000 Highbridge Voices 5,000 Focus St. Louis 7,500 Scholarships for Employees Children Illinois Holocaust Museum Institute for Knowledge National Merit Scholarship and Education Center 15,000 Management in Education 50,000 Corporation 130,260 International Museum of Women 75,000 Jumpstart for Young Children 381,000 Scholarship America 268,645 Liberty Science Center 10,000 ( c ) Learning Forward 250,000 Public Policy Liz Lerman Dance Exchange 150,000 National Association of Farm Foundation 2,500 Miami Art Museum 85,000 Elementary School Principals 200,000 Foundation Center 4,500 Midori and Friends 55,000 National Association of Independent Sector 12,500 Morris Museum 15,000 Secondary School Principals 410,000 SS Huebner Foundation for Municipal Art Society of New York 10,000 National Association of Insurance Education 25,000 Museum of Arts and Sciences, Macon 10,000 Secondary School Principals 128,125 ( c ) Museum of Chinese in the Americas 30,000 New Leaders for New Schools 500,000 CULTURE Museum of Fine Arts, Boston 30,000 ( c ) New Teacher Center 500,000 Foundation 7,840,500 Museum of Fine Arts, Houston 75,000 School Leaders Network 150,000 Company 252,500 * Museum of Modern Art 25,000 ( c ) Teachers Network 150,000 Total 8,093,000 National Guild for Thirteen - WNET 200,000 ( c ) Lifelong Learning Community Arts Education 400,000 College Access and Success All Stars Project 45,000 National Museum of Mexican Art 50,000 Actuarial Foundation 10,000 American Folk Art Museum 5,000 ( c ) New York Philharmonic 325,000 American Council on Education 1,100,000 American Museum of Natural History 350,000 New York Public Library 120,000 American Indian College Fund 15,000 American Museum of Natural History 25,000 ( c ) Opera America 100,000 Asian and Pacific Islander ArtsConnection 50,000 Pacific Symphony Orchestra 30,000 American Scholarship Fund 25,000 Association of Children’s Museums 75,000 Providence Children’s Museum 25,000 Association of American Colleges Boston Symphony Orchestra 50,000 Queens Museum of Art 30,000 and Universities 750,000 Rubin Museum of Art 25,000 Bronx Museum of the Arts 75,000 College Summit 500,000 *Grants made by the Company are indicated by ( c ). ‹ 16 › All other grants are made by the Foundation.

  • Page 19

    St. Louis Art Museum 10,000 Lark Theatre Company 25,000 Hartford Symphony Orchestra 35,000 HEALTH State Theatre Regional Arts Center Lincoln Center for the Performing Arts 50,000 Jose Limon Dance Foundation 35,000 at New Brunswick 10,000 Lyric Opera of Chicago 10,000 League of American Orchestras 150,000 CIVIC AFFAIRS Studio In a School 50,000 Metropolitan Museum of Art 130,000 Los Angeles Philharmonic 35,000 Studio Museum in Harlem 30,000 Morgan Library 7,500 ( c ) Mark Morris Dance Group 130,000 < EDUCATION Tampa Bay Performing Arts Center 20,000 Munson Williams Proctor Arts Institute 10,000 Meet the Composer 125,000 Tenement Museum 25,000 < CULTURE National Aquarium in Baltimore 10,000 National Corporate Theatre Fund 20,000 ( c ) Third Street Music School Settlement 20,000 National Association of New England Foundation for the Arts 275,000 < PUBLIC BROADCASTING Wadsworth Atheneum Museum of Art 20,000 ( c ) Latino Arts and Culture 40,000 New York City Center 150,000 Whitney Museum of American Art 15,000 ( c ) National Performance Network 45,000 New York Youth Symphony 20,000 INVESTMENTS Wildlife Conservation Society 10,000 ( c ) New York Botanical Garden 350,000 Orpheus Chamber Orchestra 150,000 Wing Luke Museum of the New York Shakespeare Festival 25,000 Paul Taylor Dance Company 125,000 METLIFE FOUNDATION Asian Pacific American Experience 25,000 Nonprofit Finance Fund 180,000 Pilobolus Dance Theater 85,000 AUDITED FINANCIAL Access and Inclusion Pan Asian Repertory Theatre 15,000 Repertorio Espanol 100,000 STATEMENT Alliance for the Arts 15,000 Paper Mill Playhouse 25,000 Smithsonian Institution Traveling Americas Society 100,000 Park Playhouse 7,500 Exhibition Service 125,000 Apollo Theatre 50,000 Ping Chong Company 35,000 St. Louis Symphony Orchestra 35,000 Archivists Round Table of Pregones Theater 20,000 Tampa Public Arts Foundation 20,000 ( c ) Metropolitan New York 5,000 ( c ) Queens Council on the Arts 20,000 Theatre Communications Group 275,000 Artspace Projects, Inc. 200,000 Sphinx Organization 35,000 Tulsa Ballet Theatre 20,000 Asian American Arts Alliance 20,000 Taproot Foundation 150,000 AXIS Dance Company 30,000 The Town Hall 10,000 PUBLIC BROADCASTING Baltimore Children’s Museum 25,000 Utica Symphony Orchestra 10,000 Foundation 2,335,000 Boston Children’s Museum 5,000 ( c ) Volunteer Lawyers for the Arts 20,000 Company 1,200,000 * Brooklyn Arts Council 100,000 VSA - The International Organization Total 3,535,000 Brooklyn Children’s Museum 35,000 on Arts and Disability 180,000 Chamber Music Society of Caribbean Cultural Center 50,000 Reaching Global Audiences Lincoln Center 35,000 Center for Arts Education 35,000 Alvin Ailey American Dance Theatre 90,000 Community Television of Center Theatre Group 20,000 Arts Midwest 15,000 Southern California 500,000 Chicago Children’s Museum 50,000 Association of Performing Live From Lincoln Center 1,200,000 ( c ) Chicago Children’s Museum 5,000 ( c ) Arts Presenters 85,000 National Public Radio 500,000 Dancing Wheels 40,000 Atlanta Symphony Orchestra 30,000 New York Philharmonic 100,000 Field Museum of Natural History 10,000 ( c ) Ballet Hispanico 125,000 Orpheus Chamber Orchestra 150,000 Greater Hartford Arts Council 50,000 Baltimore Symphony Orchestra 30,000 Public Broadcasting Council of Harlem Stage 35,000 Carnegie Hall 50,000 Central New York, Inc. 15,000 International Center of Photography 5,000 ( c ) Chamber Music America 15,000 Sesame Workshop 500,000 2010 Jewish Museum 30,000 Chen Dance Center 30,000 Twin Cities Public Television 500,000 John F. Kennedy Center for Dance USA 150,000 WNYC Radio 35,000 the Performing Arts 15,000 Detroit Symphony Orchestra 20,000 Joyce Theater 25,000 Festival of North American Orchestras 200,000 2010 CORPORATE CITIZENSHIP REPORT ‹ 17 ›

  • Page 20

    < Report of Investments > SOCIAL AND COMMUNITY USA Institutional Fund 81 $20 million Alliant Fund 59 $66 million INVESTMENTS Investment to provide equity financing to a newly Investment to provide equity financing to New investment authorizations of $489 million constructed 84-unit affordable rental project approximately seven affordable rental housing investments were made in 2010, including: in New Jersey and a 36-unit newly constructed projects nationally. The investment includes the affordable rental project located in a Federal purchase of renewable energy tax credits. Habitat for Designated Natural Disaster Area in Missouri. Humanity International $8 million Alliant Fund 60 $42 million Financing to provide liquidity to Habitat affiliates USA Institutional Fund 81A $21 million Investment to provide equity financing to so they can originate new mortgage loans for Investment to provide equity financing to approximately 20 affordable rental housing low-income families. affordable rental housing developments providing projects nationally. The investment includes the 80 new units in Iowa and 36 new units in purchase of renewable energy tax credits. Cornerstone/NAHT Missouri. Both projects are located in Federal Enhanced Fund 2010-1 $10 million Designated Natural Disaster Areas. Alliant Fund 62 $40 million Financing for an innovative partnership to preserve Investment to provide equity financing to approximately eight affordable rental housing USA Tax Credit Stimulus Fund $35 million approximately 19 affordable rental housing projects with nonprofit owners. Investment to provide equity financing to an projects nationally. The investment includes the anticipated 18 affordable rental housing projects purchase of renewable energy tax credits. Enterprise Green nationally. Communities West II $10 million Raymond James Housing Investment to develop approximately seven North Carolina Equity Fund IV $45 million Opportunities Fund 20 $34 million affordable, green rental housing projects in Investment to provide equity financing to an Investment to provide equity financing to three California, Oregon, Washington and Hawaii. anticipated eight affordable rental housing new construction affordable rental housing projects in North Carolina. The fund is sponsored projects. The projects will provide 58 units in Red Stone – Fund 12 $74 million by the nonprofit Community Affordable Housing New York and 102 units in the United States Investment to provide equity financing to up to Equity Corporation. Virgin Islands. ten affordable rental projects nationally. The fund includes 172 new construction units developed Raymond James with a housing authority in North Carolina. Tax Credit Fund 34 $50 million Investment to provide equity financing to 24 Red Stone – Fund 16 $20 million affordable rental housing projects nationally. Investment to provide equity financing to a newly constructed 70-unit affordable rental project CREA Investment Fund 2010-4 $14 million in New Jersey and a 60-unit newly constructed Investment to provide equity financing to four affordable rental project in the Gulf Opportunity affordable rental housing projects. The projects Zone of Mississippi. will provide 122 units in Indiana. ‹ 18 ›

  • Page 21

    RENEWABLE ENERGY INVESTMENTS Dixie Valley Geothermal SUSTAINABLE REAL ESTATE HEALTH New investment authorizations of $915 million Invested in the 67 megawatt Dixie Valley INVESTMENTS were made in 2010, including: geothermal plant in Churchill County, Nevada. New investment authorizations of $1.2 billion CIVIC AFFAIRS in commercial mortgage loans on LEED certified Lexington Solar Montalto di Castro Solar properties were made in 2010. EDUCATION Investment to finance a solar energy project Investment in the 44 megawatt Montalto in Lexington, North Carolina with an electrical di Castro solar power plant in the Lazio CULTURE generating capacity of approximately region of Italy. 15.5 megawatts. PUBLIC BROADCASTING Hatchett Ridge Wind SunE Solar V Investment in a wind energy project located Investment to finance distributed generation in Burney, California that will produce the < INVESTMENTS solar facilities across the U.S. clean power equivalent to the annual energy use of 44,000 California homes. METLIFE FOUNDATION Greater Sandhill I Solar AUDITED FINANCIAL Investment in a utility-scale 19.2 megawatt Long Island Solar Farm STATEMENT solar generating plant that will supply energy Investment in a 32 megawatt solar farm located to Public Service Co. of Colorado. in Long Island, NY. Gulf Wind Selected Wind Investments Investment in wind farm located in Kennedy Debt investments in wind power generation County, Texas that produces clean energy facilities located in California, Oregon, Colorado equivalent to the power needs of 80,000 and Oklahoma providing over 1.8 gigawatts Texas homes. of power to the region. Imperial County Geothermal Debt investment in geothermal power generation facilities located in Imperial County, California 2010 2010 CORPORATE CITIZENSHIP REPORT ‹ 19 ›

  • Page 22

    < MetLife Foundation INDEPENDENT AUDITOR’S REPORT Audited Financial Statement > To the Board of Directors of MetLife Foundation: We have audited the accompanying statements of financial position of MetLife Foundation (the “Foundation”) as of December 31, 2010 and 2009, and the financials related statements of activities and changes in net assets and cash flows for the years then ended. These financial statements are the responsibility of the Foundation’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Foundation’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the financial position of the Foundation as of December 31, 2010 and 2009, and the changes in its net assets and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. February 15, 2011 METLIFE FOUNDATION STATEMENTS OF FINANCIAL POSITION—DECEMBER 31, 2010 AND 2009 ASSETS NOTES 2010 2009 Investments: Program-related investments 1 $5,836,074 $ 5,276,398 Other investments, at fair value: Government and structured bonds 30,959,063 38,989,329 Corporate bonds 21,639,244 13,122,208 Equity investments 54,919,146 54,907,142 Short-term investments 9,598,239 – Total investments 122,951,766 112,295,077 Cash and cash equivalents 1 3,115,258 1,185,100 Amounts receivable for investments sold 3,114 – Due and accrued investment income 537,047 501,295 TOTAL ASSETS $126,607,185 $113,981,472 LIABILITIES AND NET ASSETS Cash overdraft 1 $ 859,047 $ 658,461 Unconditional grants payable 6 1,021,888 1,937,954 Accrued expenses payable 1,500 1,500 Income tax payable 10,096 16,672 Amounts payable for investments acquired – 1,000,000 Total liabilities 1,892,531 3,614,587 Net assets—unrestricted 124,714,654 110,366,885 TOTAL LIABILITIES AND NET ASSETS $126,607,185 $113,981,472 See notes to financial statements ‹ 20 ›

  • Page 23

    METLIFE FOUNDATION STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009 HEALTH REVENUE NOTES 2010 2009 Investment income: CIVIC AFFAIRS Dividends and interest $ 3,980,066 $ 3,694,540 EDUCATION Change in fair value of investments 1 9,364,900 14,333,236 Contributions from MetLife 3 40,000,000 18,000,000 CULTURE Total revenue 53,344,966 36,027,776 GRANTS AND EXPENSES PUBLIC BROADCASTING Grants: Paid 39,800,039 39,465,498 CONTRIBUTIONS Change in accrual for unconditional grants (916,066) (868,900) Total grants 38,883,973 38,596,598 INVESTMENTS General expenses 4 52,800 45,900 Federal excise tax expense on investment income 5 60,424 409,332 < METLIFE FOUNDATION Total grants and expenses 38,997,197 39,051,830 AUDITED FINANCIAL CHANGE IN NET ASSETS 14,347,769 (3,024,054) STATEMENT Net Assets—beginning of year 110,366,885 113,390,939 NET ASSETS — end of year $124,714,654 $110,366,885 See notes to financial statements METLIFE FOUNDATION STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009 CASH FLOWS FROM OPERATING ACTIVITIES: 2010 2009 Change in net assets $ 14,347,769 $ (3,024,054) Adjustments to reconcile change in net assets to net cash provided by operating activities: Change in cash receivable from MetLife – 30,000,000 Change in fair value of investments (9,364,900) (14,333,236) Accretion of discount/amortization of premiums on investments 388,386 221,272 Change in due and accrued investment income (35,752) (34,689) Change in income tax payable/recoverable (6,576) 333,132 Change in cash overdraft 200,586 226,911 Change in accrued expenses payable – (35,520) Change in unconditional grants payable (916,066) (868,900) Net cash provided by operating activities 4,613,447 12,484,916 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from sale of investments 115,083,453 62,661,609 Purchase of investments (117,766,742) (74,921,169) 2010 Net cash used in investing activities (2,683,289) (12,259,560) NET CHANGE IN CASH AND CASH EQUIVALENTS: 1,930,158 225,356 Cash and cash equivalents - beginning of year 1,185,100 959,744 CASH AND CASH EQUIVALENTS — end of year $ 3,115,258 $ 1,185,100 Supplemental disclosures of cash flow information — $ 67,000 $ 76,200 Federal excise taxes paid See notes to financial statements 2010 CORPORATE CITIZENSHIP REPORT ‹ 21 ›

  • Page 24

    < MetLife Foundation Audited Financial Statement > METLIFE FOUNDATION NOTES TO of December 31, 2010 and December 31, during the reporting period. Actual results FINANCIAL STATEMENTS 2009, this allowance was zero. In addition, could differ from these estimates. Since the DECEMBER 31, 2010 AND 2009 the income generated by the program-related obligation to make payment of conditional financials The MetLife Foundation (the “Foundation”) loans is generally dependent upon the finan- multi-year grants and program-related loans was formed for the purpose of supporting cial ability of the borrowers to keep current is dependent upon each grantee/borrower’s various philanthropic organizations and on their obligations. For disclosure purposes, satisfaction of the applicable conditions, activities. a reasonable estimate of fair value was not the amount of conditional multi-year grants 1. ACCOUNTING POLICIES made since the difference between fair value and program-related loans reported as and the outstanding indebtedness or cost commitments is based upon the expected or Summary of Significant Accounting would not be significant. Maturities of the estimated fulfillment of such conditions. Policies loan investments range from 2013 through The Foundation’s financial statements have Adoption of New Accounting 2020. Pronouncements been prepared in accordance with accounting Other Investments—Bonds, equity and principles generally accepted in the United Effective January 1, 2010, the Foundation short-term investments are carried at fair adopted new guidance that requires States of America (“GAAP”) which recognize value with related holdings gains and losses income when earned and expenses when disclosures about significant transfers in and/ reported in investment income. Excluding or out of Levels 1 and 2 of the fair value incurred. investments in U.S. Treasury securities and Cash Equivalents and Cash Overdraft— hierarchy and activity in Level 3. In addition, obligations of U.S. government corporations this guidance provides clarification of existing Cash equivalents are highly liquid and agencies, the Foundation is not exposed investments purchased with an original or disclosure requirements about (a) level of to any significant concentration of credit risk disaggregation and (b) inputs and valuation remaining maturity of three months or less in its investment portfolio. Short-term invest- at the date of purchase and are carried at techniques. The Foundation has provided ments include investments with remaining all of the material required disclosures in fair value. The Foundation generally invests maturities of one year or less, but greater funds required for cash disbursements in its financial statements. This adoption did than three months, at the time of acquisition. not have any other material impact on the cash equivalents and transfers such funds to Contributions—All contributions received to its operating bank account when checks are Foundation’s financial statements. date by the Foundation have been unrestricted Effective April 1, 2009, the Foundation presented for payment. The cash overdrafts and, therefore, all of its net assets are similarly at December 31, 2010 and December 31, adopted prospectively guidance which unrestricted. All contributions received to date establishes general standards for accounting 2009 represent grant disbursements that have been from MetLife, Inc. and subsidiaries cleared the operating bank account in 2011 and disclosures of events that occur subse- (“MetLife”). quent to the balance sheet date but before and 2010, respectively. Grants—Such transactions are authorized financial statements are issued or available Program-Related Investments—Such by the Board of Directors. Conditional grants investments are authorized by the Board of to be issued. It also requires disclosure of authorized for payment in future years are the date through which management has Directors and represent loans to or equity subject to further review and approval by the investments in qualified charitable organiza- evaluated subsequent events and the basis Foundation. for that date. On February 15, 2011, the date tions or investments for appropriate chari- table purposes as set forth in the Internal Estimates—The preparation of the financial the December 31, 2010 financial statements Revenue Code and regulations thereunder, statements in conformity with GAAP requires of the Foundation were issued, management and are carried at outstanding indebtedness management to make estimates and evaluated the recognition and disclosure of or cost. An allowance for possible losses is assumptions that affect the reported amounts subsequent events. established when the Foundation does not of assets and liabilities and the disclosure expect repayment in full on any program- of contingent assets and liabilities at the related loan and when such uncollectible date of the financial statements and the amount can be reasonably estimated. As reported amounts of revenues and expenses ‹ 22 ›

  • Page 25

    Effective April 1, 2009, the Foundation 2. FAIR VALUE instruments other than quoted prices in HEALTH adopted guidance on: (i) estimating the fair The Foundation has elected to measure its Level 1; quoted prices in markets that value of an asset or liability if there was corporate and government bonds, equity are not active; or other inputs that are CIVIC AFFAIRS a significant decrease in the volume and investments and cash equivalents at fair observable or can be derived principally level of trading activity for these assets or value with related holdings gains and losses from or corroborated by observable market EDUCATION liabilities; and (ii) identifying transactions reported in investment income. data for substantially the full term of the that are not orderly. The adoption did not financial instrument. Financial instruments CULTURE The Foundation has categorized its financial have a material impact on the Foundation’s instruments measured at fair value into a measured at fair value using Level 2 PUBLIC BROADCASTING financial statements. three-level hierarchy, based on the priority inputs generally include U.S. Treasury and Future Adoption of New Accounting of the inputs to the respective valuation agency securities, U.S. corporate securities, CONTRIBUTIONS Pronouncements technique as follows: residential mortgage-backed securities, Level 1 Unadjusted quoted prices in active commercial mortgage-backed securities and INVESTMENTS During 2010, the Financial Accounting asset-backed securities. Standards Board issued new accounting markets for identical financial instruments. guidance regarding disclosures about the The Foundation defines active markets Level 3 Unobservable inputs that are < METLIFE FOUNDATION credit quality of financing receivables and based on average trading volume for equity supported by little or no market activity and AUDITED FINANCIAL valuation allowances for credit losses, investments. The size of the bid/ask spread are significant to the fair value of the financial STATEMENT including credit quality indicators. Such is used as an indicator of market activity instruments. Financial instruments measured disclosures must be disaggregated by for bonds. Financial instruments measured at fair value using Level 3 inputs generally portfolio segment or class based on how an at fair value using Level 1 inputs generally include unlisted equities investments. entity develops its valuation allowances for include equities listed on a major exchange A financial instrument’s classification within credit losses and how it manages its credit with sufficient levels of activity and liquidity the fair value hierarchy is based on the lowest exposure. These disclosures, which are and certain U.S Treasury securities. level of significant input to its valuation. effective for non-public entities in 2011, are Level 2 Quoted prices in markets that are The Foundation’s financial instruments not expected to have a material impact on not active or inputs that are observable measured at fair value were categorized the Foundation’s financial statements. either directly or indirectly. Level 2 inputs as follows as of December 31, 2010 and include quoted prices for similar financial December 31, 2009: Quoted Prices in Active Markets Significant Other Significant for Identical Securities Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Total Fair Value December 31, 2010: Cash Equivalents $ 2,999,937 $ 2,999,937 Short-Term Investments 9,598,239 9,598,239 Government and Structured Bonds 4,592,782 $26,366,281 30,959,063 Corporate Bonds 21,639,244 21,639,244 Equity Investments 54,903,968 $15,178 54,919,146 Total $72,094,926 $48,005,525 $15,178 $120,115,629 2010 December 31, 2009: Cash Equivalents $ 1,099,923 $ 1,099,923 Government and Structured Bonds 11,567,510 27,421,819 38,989,329 Corporate Bonds 13,122,208 13,122,208 Equity Investments 54,891,964 $15,178 54,907,142 Total $ 67,559,397 $ 40,544,027 $15,178 $108,118,602 2010 CORPORATE CITIZENSHIP REPORT ‹ 23 ›

  • Page 26

    < MetLife Foundation Audited Financial Statement > During the year ended December 31, 2010, 6. COMMITMENTS there were no transfers between Levels 1 As of December 31, 2010, the Board of Di- and 2 and no transfers between Levels 2 and rectors had authorized $3,550,000 in grants financials 3. In addition, there were no transactions for future years as follows: on the Level 3 securities and the fair values remain the same. CONDITIONAL GRANTS 3. CONTRIBUTIONS 2011 $1,550,000 In 2010 and 2009, MetLife contributed 2012 1,000,000 cash of $40,000,000 and $18,000,000 respectively, to the Foundation. $2,550,000 4. RELATED PARTY TRANSACTIONS The Foundation is supported by MetLife. UNCONDITIONAL GRANTS MetLife also provides the Foundation with management and administrative services. 2011 $1,000,000 However, the Statements of Activities and Changes in Net Assets do not include such 2012 – costs since they are not significant. $1,000,000 5. FEDERAL TAXES The Foundation is exempt from Federal Total authorized grants for future years income taxes; however, as a private founda- include $1,000,000 of unconditional grants tion, it is subject to Federal excise taxes on its which have been recognized as a liability net taxable investment income and realized for financial statement purposes at December capital gains. The rate for current excise taxes 31, 2010. was 1% in 2010 and 2009. The rate for As of December 31, 2010, none of the con- deferred excise taxes was 2% in 2010 and ditional grants required further review and 2009. However, the cost of investments re- approval by the Foundation prior to payment. corded at fair value exceeded the fair value of such securities by $750,919 and $7,926,635 at December 31, 2010 and 2009, respec- tively. Therefore, no deferred taxes were recorded at December 31, 2010 and 2009. There were no uncertain tax positions taken by the Foundation as of December 31, 2010. ‹ 24 ›

  • Page 27

    METLIFE, INC. METLIFE FOUNDATION < Board of Directors > C. Robert Henrikson James M. Kilts Gwenn L. Carr Chairman of the Board, Partner Chairman of the Board President and Chief Executive Officer Centerview Partners Management, LLC A. Dennis White MetLife, Inc. Catherine R. Kinney President and CEO Sylvia Mathews Burwell Retired Group Executive Vice President, Maria R. Morris President, Listings, Marketing & Branding William J. Mullaney Global Development Program NYSE Euronext The Bill and Melinda Gates Foundation John Rosenthal Hugh B. Price Treasurer Eduardo Castro-Wright Visiting Professor of Public and Vice Chairman International Affairs William J. Toppeta Wal-Mart Stores, Inc., USA Woodrow Wilson School, Michael J. Vietri Princeton University Cheryl W. Grisé Retired Executive Vice President David Satcher, MD, PhD (As of December 31, 2010) Utility Group of Northeast Director, Satcher Health Leadership Institute and the Center of Excellence R. Glenn Hubbard, PhD on Health Disparities Dean and Russell L. Carson Professor Morehouse School of Medicine of Economics and Finance Former Surgeon General, Graduate School of Business United States Columbia University Kenton J. Sicchitano John M. Keane Retired Global Managing Partner Senior Partner, SCP Partners, PricewaterhouseCoopers LLP and President, GSI, LLC General, United States Army (Retired) Lulu C. Wang Chief Executive Officer Alfred F. Kelly, Jr. Tupelo Capital Management Retired President American Express Company 2010 CORPORATE CITIZENSHIP REPORT ‹ 25 ›

  • Page 28

    Metropolitan Life Insurance Company 200 Park Avenue New York, NY 10166 www.metlife.com 1101-0027 © 2011 METLIFE, INC. L0311168251(exp0212)(All States) PEANUTS © 2011 Peanuts Worldwide

  • Page 29

  • View More

Get the full picture and Receive alerts on lawsuits, news articles, publications and more!