Frequently asked questions
The mission of Principal Foundation is to build a world where financial security is accessible to all. It is why we support organizations around the world in removing barriers and empowering people and communities so they may build a more financially secure future.
Endowed by member companies of Principal®, Principal Foundation champions initiatives that help shape and support the journey to financial security.
Principal works every day to give customers, stakeholders, and the communities where it operates a reason to feel secure and Principal Foundation, as an independent 501(c)(3) charitable entity, is helping the company live up to that goal.
Through grants, employees of Principal match giving, sponsorships and in-kind donations, Principal community relations and Principal Foundation contributed more than $17 million in 2022 and are addressing gaps and systemic barriers to building a financially secure future in the communities where Principal does business.
Principal Foundation supported a diverse community of more than 140 charitable organizations in 2023, including nonprofits, universities, charities, among others.
Our grantees represent local, national, and global organizations from United Way and Habitat for Humanity to World Central Kitchen and Cities for Financial Empowerment.
In May 2023, Principal Foundation exceeded its goal to invest over $30 million over two years to advance financial security. The contributions impact over eight million people around the world by helping to remove barriers and empower people and communities so they may build financially secure futures.
Principal Foundation runs one grant cycle every spring and organizations must be invited to apply. Principal Foundation conducts research and outreaches to build relationships with potential organizations it is considering inviting to apply for a grant. If organizations want to be considered, they can submit their information through the grantmaking application process.
Applicants must meet several requirements to be eligible for funding. Potential applicants cannot request a grant amount that constitutes more than 30% of the organization’s annual budget.
Because of the historical and systemic issues that have hindered financial progress for historically excluded groups, the Principal Foundation aims to fund not only mainstream organizations, but also hyper-local organizations and those led by historically excluded groups.