Allstate, based in Northbrook, Ill., is known for its insurance products, but the company has its own foundation, the Allstate Foundation, that focuses on helping the company be a good corporate citizen. In that sense, the company’s slogan “You’re in Good Hands with Allstate” works for both the business side and the foundation.
Allstate has had a scholarship program since 1990. In the first 20 years of the program, more than $5 million in scholarships have been awarded to the children of Allstate’s 36,000 employees and more than 14,000 agents and financial specialists. The money has been used to help students attend colleges, universities, vocational schools and trade schools.
Allstate also makes contributions to other scholarship programs. In recent years, Allstate has supported scholarship programs like the United Negro College Fund and the Líderes de Hoy Scholarship from La Raza. The company also funds the Good Hands Field Goal Net program at 57 colleges and universities, which makes contributions of $300 for all field goals and $100 for extra points converted in the nets at each participating school’s home games. The contributions are used for the schools’ athletic scholarship programs.
Allstate has been recognized by Working Mother Magazine as a leading employer for single mothers. Part of the benefits that single mothers can access is a scholarship program for their children who use the company’s on-site early childhood center. Through the Little Hands Scholarship, children can receive up to a 40 percent reduction of their tuition at the Little Hands Early Childhood Center.
Because of Allstate’s focus on community support and involvement, company executives have personally funded scholarships for deserving students in varying fields of interest. For example, Steven Verney, vice president of Allstate Insurance Company in Chicago, funded a University at Buffalo scholarship for students in the School of Management, his alma mater. The scholarship involves a competition where students analyze a Harvard business case and then create solutions for the company cited in the case.