FOCUS future - SocialFunds.com · METLifE aNd METLifE fOuNdaTiON. 2007 RepoRt of ContRibutions. ......

ON THE future

M E T L i f E a N d M E T L i f E f O u N d aT i O N

2 0 0 7 R e p o R t o f C o n t R i b u t i o n s

FOCUS

table of contents

a Message from MetLife's Chairman . . . . . . . .1

The Year in Review . . . . . . . . . . . . . . . . . . . . . .2

Contributions . . . . . . . . . . . . . . . . . . . . . . . . . .7

Health . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8

Education . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

Civic affairs . . . . . . . . . . . . . . . . . . . . . . . . . .14

Culture and Public Broadcasting . . . . . . . . . . .18

united Way . . . . . . . . . . . . . . . . . . . . . . . . . . .22

international . . . . . . . . . . . . . . . . . . . . . . . . . .24

Volunteerism . . . . . . . . . . . . . . . . . . . . . . . . . .26

Social investment Program . . . . . . . . . . . . . . .28

financial Section . . . . . . . . . . . . . . . . . . . . . . .32

How to Submit Requests for Contributions . . .36

Board of directors . . . . . . . . . . . . . . . . . . . . . .37

Rob Henrikson presents alzheimer’s research awards .

11

a longtime leader in the insurance industry, MetLife has always focused on the future, its possibilities and challenges . it’s part

of our business to look at the future and assess its risks and rewards . as both a company and a corporate citizen, we contribute to societal and economic well-being by helping people of all ages prepare for the future and lead more secure lives .

demographics is the future that cannot be changed . it’s a fact that people are living longer than ever before and

many countries across the world are facing new challenges caused by the aging explosion .The largest generation in the

history of united States – the baby boom generation – is nearing traditional retirement age . With its increased life span, its needs and expectations are different than previous generations . as a company, we are helping people create personal safety nets for their retirement and these added years . Through MetLife foundation, we have increased our support of programs that address aging issues, including civic engagement, aging in place and brain health . in addition, our commitment to helping find a cure for alzheimer’s disease remains strong after more than two decades .

Nowhere is our focus on the future more important than our commitment to young people . Our hopes and dreams for the future depend on them . We support programs that provide young people with the skills they need to succeed in life, improve education, offer safe places for them to learn and play after school and develop mentors to help them fulfill their potential .

With our eyes on the future, we have stayed with key issues over time, working with leading nonprofits to make a difference for individuals and communities . MetLife associates across the globe do their part by taking time out of their busy lives to volunteer and help others, too . i thank them all .

C. Robert Henrikson Chairman of the Board, President and Chief Executive Officer

a message from MetLife’s chairman

2 in 2007, MetLife and MetLife foundation (MLf) contributed over $41 million to nonprofit organizations to help

people face the issues of today and prepare for the challenges of the future . Our grants support programs that help provide young people with the skills they need to succeed, create opportunities for people of all ages and address the issues of aging . in addition, MetLife made $170 million in special loans and equity investments for community development .

focus on the future:

education and Youth

development

Nowhere is our focus on the future stronger than our commitment to young people and helping them achieve their potential . Education is the key to unlocking the promise of the future . MetLife foundation supports programs that improve public education, develop school leadership and increase access to higher education .

findings from the annual MetLife Survey of the American Teacher identify issues and trends affecting public schools and inform grants on such issues as teacher turnover, school leadership, the crucial role of principals and community connections . The latest survey takes a new look at the often controversial subject

of homework . MLf forums and roundtables in 2007 exploring past survey findings on teacher recruitment, retention and development focused on the high cost of teacher turnover in dollars, morale and student achievement and engaged education thought leaders, policymakers and practitioners . The foundation partnered with the National Commission on Teaching and america’s future to emphasize creating a culture of collaboration in schools . in addition, the New Teacher Center is helping school districts provide and share mentor training and develop tools and best practices for new teacher induction .

The lessons that young people learn in school are reinforced by what they learn at home, after school and through

relationships with parents and caring older adults . Research has shown that when parents talk to their children about drugs they are less likely to use drugs . Parent Talk, MLf’s award-winning media campaign in collaboration with the Partnership for a drug-free america (Pdfa), uses radio messages, free brochures in English, Spanish and Chinese, and an interactive Web site to encourage parents to talk to their children about drugs . The foundation is also funding Pdfa’s influential attitude Tracking

the year in review

3

Survey for Parents and two new surveys on alcohol and drug use .

Mentors, including family members and caring adults, nurture young people and teach them many important life lessons . The new Healthy Children, Healthy futures Child Health initiative, a partnership between MLf and the Preventive Medicine institute, is launching a Healthy Grandfamilies initiative

to encourage grandparents to teach youngsters about good nutrition and healthy habits . Working with What Kids Can do, teens interviewed people from all walks of life who

support their development and maturation and who

care about “other people's children .” The project, which helped teens

build their literacy skills and self expression,

resulted in an online gallery

and a book to be

published in 2008, including

photographs of mentors taken by the

young inter viewers .

More than 14 million kindergarten through 12th graders are unsupervised and at risk after school . Quality after-school programs are needed to provide safe, supervised activities that help young people learn and grow . Often teens stop participating in after-school programs at a time when they might need them the most . Boys & Girls Clubs of america launched the MLf Teen Growth and Enhancement initiative to help 25 local organizations increase the number of teens served and enhance programs and services to attract teens . The National foundation for Teaching Entrepreneurship is developing and expanding after-school programs to help young people from low-income communities build skills and unlock their entrepreneurial creativity . a three-year grant is helping 4-H, the largest youth development organization in the uS, increase the number of young people participating in after-school programs and infuse civic engagement in after-school settings .

Participation in the arts contributes to young people’s overall development . The MetLife Partnership in arts Education, a

collaboration with the National Guild of Community Schools of the arts, provides crucial funding to community schools of the arts to form sustainable partnerships with schools and provide ongoing arts activities for students . The new Museums and Community Connections program awarded grants totaling $1 million to 13 art museums directly benefiting over 1 .4 million people for projects that promote museums as centers of education without boundaries, advance understanding of different cultures and increase interaction between museums and their communities .

Community colleges are the gateway to postsecondary education for many minority, low-income, and first-generation students . They play a vital role in education by providing opportunities for students of all ages and backgrounds to develop the skills they need for economic stability and success in life . To help more community college students achieve academic success, MLf launched the Pathways to Student Success initiative, which awarded $1 .2 million in grants to 10 community colleges for innovative programs to help students succeed .

MetLife’s commitment to young people can be felt globally . foundations in Korea and Mexico provide education and opportunities for disadvantaged

The Trust for Public Land provides young people with safe places to play and grow .

The arts bring people together and enliven communities .

4

ReServe offers opportunities for older workers to use their skills to help others .

young people . With MLf support, Ja (Junior achievement) Worldwide is expanding its Ja Economics program to prepare more high-school level students worldwide to compete in a global economy . Wherever they are across the globe, MetLife associates volunteer as mentors to help children and teens .


aging

With increasing life expectancy and the aging of the baby boom generation, issues of aging will play a major role in defining the future . aging populations in the uS and many other countries will present enormous challenges to government, business, the nonprofit world and communities .

in 1986, MetLife foundation created the awards for Medical Research in alzheimer’s disease as it became apparent that the incidence of alzheimer’s, a disease whose primary cause is aging, was increasing dramatically . in fact, there are now more than 5 million people living with alzheimer’s in the uS alone, and every 72 seconds someone develops the disease . Over $11 million in grants have been made through the awards for Medical Research to scientists who have made significant contributions to the understanding of the disease and finding a cure . The 2007 winners are Bart de Strooper, Md, Phd, university of Leuven, Belgium, and

ViB institute; Robert Vassar, Phd, feinberg School of Medicine, Northwestern university, Chicago, and Philip C . Wong, Phd, The Johns Hopkins university School of Medicine, Baltimore .

To help those living with alzheimer’s and their families, the Museum of Modern art expanded Meet Me at MoMa, its interactive museum program for individuals with alzheimer’s and their caregivers . With MLf support, MoMa will produce training materials and conduct in-person training sessions to equip caregivers and museum professionals with methods for making art accessible to people living with early- and middle-stage alzheimer’s . The foundation is also exclusive sponsor of Preserving Your Memory, a new quarterly magazine which provides information for the general public on aging, the latest alzheimer’s research, brain health and how to prepare for alzheimer’s .

Many issues brought up by aging – including caregiving, outliving resources and people leaving the workforce in key fields due to retirement – need to be addressed now so that creative solutions are developed to prepare for the future . The MLf/Civic Ventures survey, The New Face of Work, found that adults in their 50s are interested in paid work for the

social good in their retirement, rather

than volunteering . Many wished to find second careers in retirement that focus on people, purpose and community . The foundation has funded community college programs that offer training for older adults transitioning to socially-minded second careers .

another key area of concern is aging in place – providing the infrastructure to make cities and towns more livable for older populations . Created through an unprecedented partnership among leading groups in the field of aging and community and civic affairs, A Blueprint for Action: Developing Livable Communities for All Ages builds on the results of the MLf-funded Maturing of America survey and provides a comprehensive toolkit to help cities and counties plan for the future . Based on the Blueprint, two aging in Place regional forums were held in 2007 – with four more planned for 2008 – attended by influential community leaders and organizations .


communities for all

Socially and economically viable communities with jobs, affordable housing and cultural activities benefit all people . Vibrant communities also are vital to city, regional, national and global economies .

5

after-school programs at Boys & Girls Clubs help prepare young people to succeed .

Cities are often the engine for economic prosperity as well as home to half the population of the uS, including many in need . Living Cities – The National Community development initiative, a consortium of private foundations, corporations and the federal government, has emerged as the premier organization in the uS committed to strengthening cities through sustained investment, involvement and innovation . in 2007, MetLife provided $12 million in financing through the Social investment Program for work with community development corporations in 23 cities – a total of $47 million in financing by MetLife and MLf since the initiative began in 1991 . in addition, the foundation made a three-year grant to this public-private partnership to help it build on past success, respond to the changing environment for community development, test new models and document and share best practices .

Homeownership helps build wealth and stabilizes communities . However, the home ownership gap between african americans and whites is more than 25 percent . in support of the National urban League’s Oppor tunity Compact, a blueprint to advance the organization’s work in strategic areas, MLf launched a new phase of its Healthy Communities fund,

focused on closing the african-american

homeownership gap through comprehensive education, counseling and services .

Many people need a boost to attain the necessities of life . The Corporation for Supportive Housing (CSH) builds partnerships to create supportive housing linked with social services for the homeless, people with mental illness and others with special needs . MetLife made a $2 million loan to CSH through the Social investment Program to increase supportive housing development . The MLf-CSH allies for Employment initiative will award venture grants to supportive housing providers to establish employment services partnerships with workforce agencies and employers with the goal of increasing employment opportunities for supportive housing residents .

Celebrating diversity and bringing people together to learn and share, the arts make communities better places to live . Breaking down cultural, geographic and socio-economic barriers, the traveling arts program reached over 200 cities, bringing distinctive art exhibitions and performances to communities large and small . The foundation supported the tours of diverse dance companies including ailey ii, Ballet Hispanico and dancing Wheels . The first-

ever tour of Korea by the award-winning Orpheus Chamber Orchestra with Korean-american violinist Sarah Chang, which was funded by the foundation, played to standing-room only audiences . MLf will sponsor a return tour in 2008, as well as the José Limón dance Company’s visit to Mexico City .

lending a hand

MetLife associates give their time and talents to help others and build a brighter future . Throughout the uS and all the cities around the world where MetLife associates live and work, they lend a hand by mentoring young people, providing assistance to the elderly and renovating and building homes and schools . They represent MetLife and themselves with spirit and generosity .

Throughout the year, MetLife and MetLife foundation have worked with the many charitable organizations listed in this report to help people and improve communities . We thank them for their commitment and dedication .

sibyl JacobsonPresident and Chief Executive Officer MetLife Foundation

6

around the world, young people are our top priority .

7

Health 21%

Education 18%

Civic Affairs 24%

Culture 19%

Public Broadcasting 3%

United Ways 5%

Fundraising Events 2%

Affiliate Contributions 1%

MetLife International 7%

Health $ 8,555,189

Education 7,518,233

Civic affairs 9,953,825

Culture 7,927,300

Public Broadcasting 1,245,000 *

united Ways 2,000,000

fundraising Events 697,350

affiliate Contributions 347,590

MetLife international 2,990,217 **

Total $ 41,234,704

Source

MetLife $ 2,755,215

MetLife foundation 35,489,272

MetLife international 2,990,217 **

Total $ 41,234,704

Social Investment Program, 2007 Commitments

MetLife $170,000,000

* $1 .2 million allocation for Live From Lincoln Center of $3 .6 million .

** includes in-country giving, company and foundation .

contributions

88

healthThroughout its history, MetLife has provided information

to help people of all ages make informed decisions about

their health . The health program carries on this tradition through support

of national initiatives that address current public health issues, help prevent

illness and encourage positive health habits . With the health and future of

young people a primary concern, we emphasize programs that promote

safety and good health habits and prevent substance abuse . To address

issues related to aging and longevity, we support programs that help

older adults make the added

years more productive

and meaningful

through civic

engagement,

mental and physical

fitness and community

readiness for aging

in place . Grants also

support alzheimer's

disease research, education

and awareness .

PR

OM

OT

iN

G H

Ea LT H Y L i f E S TYL E S

99

drs . Philip Wong (top), Bart de Strooper (center, left) and Robert Vassar (center, right) won MLf awards for outstanding research in alzheimer’s disease .

With MLf support, the Museum of Modern art is expanding its programs for individuals with alzheimer’s and their caregivers .

Aging Issues 53%

Health Education and Prevention 47%

47%

53%

Aging Issues 53%

Health Education and Prevention 47%

47%

53%

health education & prevention

American Psychological Association $ 175,000

Children’s Hospital, New Orleans 10,000 (c)

Grantmakers in Health 8,500

Healthy Habits

American Academy of Pediatrics 85,000

American College of Physicians Foundation 25,000

Children's Health Fund 125,000

Maternity Center Association 50,000

New York Academy of Medicine 75,000

New York Blood Center 310,000

Preventive Medicine Institute 275,000

Progressive Agriculture Foundation 20,000

Public Safety Foundation 50,000

Maryland Science Center 300,000

National AIDS Fund 250,000

National Council of La Raza 150,000

New York Botanical Garden 100,000

New York Downtown Hospital 5,000 (c)

Substance Abuse

Educational Alliance 30,000

Hazelden 50,000

Outreach Project 25,000

Partnership for a Drug-Free America 600,000

Periwinkle National Theatre 50,000

Substance Abuse Education Campaign 1,226,815

UMC Foundation 5,000 (c)

Foundation $ 8,530,189

Company 25,000 *

Total $ 8,555,189

aging issues

Aging in New York Fund $ 10,000

Alliance for Aging Research 55,000

Alzheimer's Association 815,000

Alzheimer's Association, Colorado Chapter 5,000 (c)

Awards for Medical Research 806,374

Blanchette Rockefeller Neurosciences Institute 30,000

Civic Ventures 425,000

Connecticut Public Television 220,000

Copper Ridge Institute 10,000

Grandmakers in Aging 3,500

Harvard School of Public Health 300,000

Healthy Aging

American Federation for Aging Research 75,000

American Society on Aging 225,000

Center for Intergenerational Learning 200,000

Generations United 285,000

National Association of Area Agencies on Aging 160,000

National Center for Creative Aging 50,000

National Council on the Aging 250,000

National Family Caregivers Association 15,000

Partners for Livable Communities 330,000

University of California Berkeley 25,000

University of Wisconsin Superior 10,000

Museum of Modern Art 250,000

* Grants made by the Company are indicated by (c) . all other

grants are made by the foundation .

fO

Cu

Si N

G O N a G i N G i

S Su

ES

1010

educationEducation is the key to the future and central to everything we do . Helping

young people obtain the best education possible equips them with the

knowledge and skills needed to succeed and is key to building responsible,

productive, satisfying lives . We support national programs that give teachers,

principals and students a voice in improving education, promote teacher

recruitment, preparation and retention and develop school leadership .

Working with nonprofit partners, our programs strengthen relationships

among parents, schools and communities, promote mentoring and increase

access to higher education . in recognition of the importance of community

colleges as a dynamic sector of higher education, we have developed

programs to increase the number of students who enroll prepared, succeed

academically, complete degrees and secure employment .

iMP

RO

ViN

G S

CHO O L S

11

School Improvement (K–12) 55%

Higher and Continuing Education 44%

Public Policy 1%

44%

55%

1%

School Improvement (K–12) 55%

Higher and Continuing Education 44%

Public Policy 1%

44%

55%

1%

school improvement (k-12)

Afterschool Alliance $ 250,000

Alliance for Excellent Education 155,000

American Council on Education 200,000

College for Every Student 305,000

Education Partnership 5,000

Education Pioneers 100,000

Focus St. Louis 7,500

National Association of Elementary School Principals 200,000

National Association of Secondary School Principals 307,000

National Association of Secondary School Principals 100,000 (c)

National Civic League 337,000

National Commission on Teaching and America's Future $ 450,000

National Staff Development Council 40,000

New York City Leadership Academy 125,000

Public Education Network 121,000

Reading is Fundamental 135,000

Teachers Network 250,000

The After-School Corporation 410,000

University of California, Santa Cruz Foundation – New Teacher Center 250,000

University of Scranton 10,000

Woodrow Wilson National Fellowship Program 325,000

* Grants made by the Company are indicated by (c) . all other grants are

made by the foundation .

Young people honor mentors that matter and make a difference in their lives (left, top) .

Bronx Community College helps a diverse student population achieve academic success (left, bottom) .

College for Every Student trains teens to mentor peers (above) .

12

higher & continuing education

American Association of Community Colleges $ 50,000

American Indian College Fund 10,000

Asian and Pacific Islander American Scholarship Fund 25,000

Borough of Manhattan Community College 5,000 (c)

Civic Ventures 327,000

Community College Program

Bronx Community College 150,000

Bunker Hill Community College 125,000

Capital Community College 125,000

Community College of Rhode Island 125,000

Hostos Community College 100,000

Hudson Valley Community College 100,000

Kingsborough Community College 150,000

LaGuardia Community College 125,000

Northampton County Area Community College 100,000

Raritan Valley Community College 100,000

Hispanic Association of Colleges and Universities 10,000

INROADS 25,000 (c)

Matching Gifts 1,092,845

Nassau Community College Foundation 5,000 (c)

National FFA Foundation 21,000

National Hispanic Scholarship Fund 26,000

education

National Medical Fellowships $ 70,000

Queensboro Community College Fund 5,000 (c)

Scholarships for Employees' Children

National Merit Scholarship Corporation 143,913

Scholarship America 253,475

Society of Actuaries 10,000

United Negro College Fund 50,000

public policY

Committee for Economic Development $ 10,000

Council for Advancement and Support of Education 3,000

Council for Aid to Education 10,000

Farm Foundation 1,000

Foundation Center 4,500

Independent Sector 12,500

Joint Center for Political Studies 10,000

National Academy of Social Insurance 2,500

Public Policy Institute 16,000

S.S. Huebner Foundation for Insurance Education 25,000

Tax Foundation 12,000


Company 140,000 *

Total $ 7,518,233



The National Commission on Teaching and america’s future’s MetLife forums encourage great teaching and learning (left) .

MetLife fellows in the Teachers Network Leadership institute use their classroom experience to bring the teacher’s voice to school improvement (right) .

13

14

civic affairsHealthy communities provide housing, economic opportunities and the

resources to enable individuals to participate in the social and economic

mainstream . The civic affairs program works to build livable communities

with access and opportunity, especially for individuals at an economic

disadvantage, and promote civic engagement and volunteerism for

individuals of all ages . We support programs that increase affordable housing

and access to home ownership and foster economic and skills development .

Through partnerships with leading nonprofits, we

also provide young people with safe places and

constructive activities after school and expand

mentoring to give young people positive role

models .

CR

Ea

TiN

G O

P P

ORTu N i T i E S

LiSC helps communities thrive by promoting community safety and improvement .

City Year Starfish Corps members serve as tutors, mentors and role models .

15

communitY improvement and services

ACCION New York $ 50,000

ACCION USA 100,000

Adult Day Center of Somerset County 25,000

American Cancer Society 7,775 (c)

AmeriCares Foundation 125,000

Asian Americans for Equality 150,000

BoardSource 40,000

Broad-Park Development Corporation 15,000

Catalyst 10,000

Chinese American Planning Council 5,000 (c)

Citizens Budget Commission 6,000

Citizens Crime Commission of New York City 25,000

City Year 300,000

Community Loan Fund of New Jersey $ 30,000

Co-opportunity 15,000

Coro New York Leadership 15,000

Corporation for Supportive Housing 300,000

Count Me In for Women’s Economic Independence 100,000

Dress for Success 50,000 (c)

Enterprise Community Partners 190,000

Fifth Avenue Committee 50,000

Foundation for Ethnic Understanding 5,000

Habitat for Humanity of Metro Denver 5,000 (c)

Housing and Community Development Network of New Jersey 60,000

Johnstown Industrial Development Corporation 25,000 (c)

* Grants made by the Company are indicated by (c) . all other grants

are made by the foundation .

16

Community Improvement and Services 69%

Families and Youth 31%31%

69%

Community Improvement and Services 69%

Families and Youth 31%31%

69%

civic affairs

Lawyers Alliance for New York $ 10,000

Literacy Volunteers of New Jersey 10,000

Living Cities 200,000

Local Initiatives Support Corporation 385,000

Low Income Investment Fund 100,000

Massachusetts Association of Community Development Corporations 7,500

MetLife Foundation Employee Volunteer Initiatives 697,550

Metropolitan Boston Housing Partnership 10,000

Midland Foundation 10,000

Ms. Foundation for Women 10,000 (c)

National Association of Area Agencies on Aging 120,000

National Association on Drug Abuse Problems 25,000

National Center for State Courts 10,000

National Council of La Raza 200,000

National Urban Fellows 10,000

National Urban League 500,000

Neighborhood Housing Services of New York City 80,000

Neighborhood Reinvestment Corporation 250,000

New York Cares 5,000 (c)

New York City Partnership Foundation $ 70,000

New Yorkers for Parks 25,000

Parents, Families and Friends of Lesbians and Gays 20,000 (c)

Regional Plan Association 15,000

ReServe Elder Service 35,000

Rhode Island JumpStart Coalition for Personal Financial Literacy 2,500

Riverfront Recapture 20,000

Seedco 100,000

Somerset County Business Partnership Foundation 10,000

South Bronx Overall Economic Development Corporation 35,000

To The Troops, With Love 2,500 (c)

Taiwan Buddhist Tzu Chi Foundation 5,000 (c)

United Neighborhood Houses of New York 110,000

University of Hartford Foundation 2,500 (c)

Washington, DC Martin Luther King, Jr., National Memorial Project Foundation 1,000,000

Women’s Housing and Economic Development Corporation 45,000

World Trade Center Memorial Foundation 1,000,000

Wounded Warrior Project 2,500 (c)

communitY improvement and services

MLf and Enterprise Community Partners honor excellence in affordable housing that meets the needs of residents .

17

* Grants made by the Company are indicated by (c) . all other grants

are made by the foundation .

families and Youth

109th Precinct Queens Community Council $ 5,000 (c)

Action for Boston Community Development 10,000

Advertising Council 20,000

AFS-USA 10,000

B.E.L.L. Foundation 70,000

Boys & Girls Clubs of America 600,000

Boys & Girls Clubs of Hartford 125,000

Camp Courant 15,000

Camp Fire USA 250,000

Child Care Capital Investment Fund 5,000

Children’s Aid Society 25,000

Children’s Defense Fund 5,000

Connecticut Humanities Council 15,000

ConnectiKids 10,000

Harlem Educational Activities Fund 10,000

Junior Achievement (various) 600,000

National 4-H Council 175,000

National Conference for Community and Justice 20,000

National Foundation for Teaching Entrepreneurship $ 200,000

National Mentoring Partnership 200,000

Police Athletic League 60,000

Queens Library Foundation 25,000

Resources for Children with Special Needs 10,000

Sungate Kids of Colorado 5,000 (c)

Trust for Public Land 300,000

US FIRST 20,000

Village for Families & Children 15,000

Women In Need 25,000

YMCA of Greater New York 80,000

Zero to Three 200,000


Company 150,275 *

Total $ 9,953,825

Ballet Hispanico brings dance performances to diverse audiences across the country .

18

i NC R E a S i N G aCCESS

culture and public broadcastingThe arts are an essential ingredient for building livable communities and

bringing people together . They enrich our lives and teach us about ourselves

and diverse cultures . We support programs that involve young people in the

arts in and after school, enhance education and enable them to discover

their creativity . Our grants encourage lifelong learning through the arts

and provide opportunities for families to experience the arts together . Our

support increases access to the arts for people of all

ages and abilities and enables diverse performing

arts groups and exhibitions to appear in hundreds

of locations . MetLife’s continuing sponsorship brings

Live From Lincoln Center, the only live performing arts

series on television, into millions of homes across

the country .

Through programs with the New England foundation for the art’s National dance Project and Meet the Composer (page 21), MLf increases connections between artists and communities .

19



arts education

Arts Education

Allentown Art Museum $ 10,000

American Association of Museums 15,000

American Folk Art Museum 5,000 ( c )

American Museum of Natural History 50,000 ( c )

American Museum of Natural History 125,000

Artists Collective 20,000

ArtsConnection 75,000

Association of Children’s Museums 60,000

Boston Symphony Orchestra 75,000

Carnegie Hall 30,000

Center for Arts Education 30,000

Children’s Museum of Utica 8,000

Connecticut Science Center 100,000

Des Moines Art Center 10,000

FootLights Center 15,000

GableStage 10,000

Gamm Theatre 10,000

Guggenheim Museum 15,000

Judy Dworin Performance Project 5,000

Midori & Friends 50,000

Morris Museum 10,000

Municipal Art Society of New York 10,000

Museum of Fine Arts, Boston 30,000 ( c )

Museum of Modern Art 25,000 ( c )

National Canal Museum 5,000

National Guild of Community Schools of the Arts 250,000

New York Hall of Science 150,000

New York Philharmonic 300,000

New York Public Library $ 20,000

Ohio Historical Society 1,000

Providence Children’s Museum 45,000

Queens Museum of Art 30,000

St. Louis Art Museum 15,000

San Jose Museum of Art 15,000

State Theatre Regional Arts Center at New Brunswick 5,000

Studio in A School Association 77,000

Studio Museum in Harlem 30,000

Utica Monday Night 2,500

Whitney Museum of American Art 10,000

Wildlife Conservation Society 10,000 ( c )

Young Audiences 100,000

Partnership for Intergenerational Learning

Albright-Knox Art Gallery 50,000

Asheville Art Museum 60,000

Boca Raton Museum of Art 60,000

Bronx Museum of the Arts 100,000

Delaware Art Museum 30,000

Museum for African Art 100,000

Museum of Chinese in America 75,000

New Britain Museum of American Art 60,000

New Museum of Contemporary Art 100,000

Norton Museum of Art 100,000

Philadelphia Museum of Art 100,000

Telfair Museum of Art 65,000

Whitney Museum of American Art 100,000

The MLf-sponsored exhibit, Mythic Creatures: Dragons, Unicorns & Mermaids, was one of the highlights of the year at the american Museum of Natural History .

20

access and communitY connections

Providing Access

92nd Street Y $ 20,000

Aaron Davis Hall 25,000

American Symphony Orchestra League 60,000

Americans for the Arts 315,000

Archivists Roundtable of Metropolitan New York 5,000

Art Education for the Blind 75,000

Asian American Arts Alliance 15,000

Bellevue Philharmonic 15,000

Brooklyn Academy of Music 50,000

Brooklyn Arts Exchange 15,000

Brooklyn Museum of Art 15,000

Brooklyn Philharmonic 20,000

Business Committee for the Arts 10,000

Center for Creative Play 125,000

Center Theatre Group 20,000

Chicago Children’s Museum 20,000

Cityfolk 10,000

Classical Theatre of Harlem 15,000

Dance USA 25,000

Dancing Wheels 35,000

East West Players 10,000

El Museo del Barrio 50,000

Friends of Tampa Public Arts Foundation 50,000 ( c )

Goodman Theatre 10,000

Greater Hartford Arts Council 51,300

Guthrie Theater Foundation $ 25,000

Highbridge Voices 5,000

Jamaica Center for Arts and Learning 10,000

Jewish Museum 30,000

Joffrey Ballet 20,000

John F. Kennedy Center for the Performing Arts 15,000

Lincoln Center for the Performing Arts 50,000

Metropolitan Museum of Art 120,000

Miami Art Museum 20,000

Morgan Library 7,500

Munson Williams Proctor Arts Institute 10,000

Museum of Arts and Design 15,000

National Aquarium in Baltimore 10,000

National Dance Institute 10,000

New World Symphony 15,000

New York Shakespeare Festival 50,000

Pan Asian Repertory 15,000

Park Playhouse 8,000

Phoenix Theatre Ensemble 12,000

Repertorio Español 100,000

Sphinx Organization 10,000

True Colors Theatre 15,000

Tulsa Ballet Theatre 20,000

Volunteer Lawyers for the Arts 20,000

VSA Arts 190,000

culture

21



Arts Education 36%

Access and Community Connections 64%

64%

36%

Arts Education 36%

Access and Community Connections 64%

64%

36%

Reaching National Audiences

Ailey Dance Theatre Foundation $ 185,000

Albany Symphony Orchestra 25,000

Artrain 125,000

Association of Performing Arts Presenters 65,000

Atlanta Symphony Orchestra 30,000

AXIS Dance Company 30,000

Ballet Hispanico 110,000

Baltimore Symphony Orchestra 30,000

Chamber Music America 15,000

Des Moines Symphony 25,000

Detroit Symphony Orchestra 35,000

Field Museum of Natural History 125,000

Florida Orchestra 35,000

Georgia O’Keeffe Museum 100,000

Grantmakers in the Arts 5,000

Greenville Symphony Orchestra 25,000

Hartford Symphony Orchestra 75,000

Houston Symphony Orchestra 35,000

HT Chen and Dancers 30,000

José Limón Dance Foundation 25,000

Liz Lerman Dance Exchange 100,000

Los Angeles Philharmonic 40,000

Mark Morris Dance Group 100,000

Meet the Composer 125,000

National Corporate Theatre Fund 15,000 ( c )

New England Foundation for the Arts 250,000

New York Botanical Garden $ 425,000

New York Youth Symphony 20,000

Northeastern Pennsylvania Philharmonic 20,000

Orpheus Chamber Orchestra 290,000

Orpheus Chamber Orchestra 10,000 ( c )

Paul Taylor Dance Foundation 120,000

Pilobolus Dance Company 80,000

Pittsburgh Symphony Orchestra 35,000

Rhode Island Philharmonic 25,000

Smithsonian Institution Traveling Exhibition Service 100,000

St. Louis Symphony Orchestra 50,000

Theatre Communications Group 250,000

Utica Symphony Orchestra 20,000


Company 195,000 *

Total $ 7,927,300

public broadcasting

Chamber Music Society of Lincoln Center $ 35,000

Lincoln Center for the Performing Arts 1,200,000 ( c )

Sesame Workshop 10,000

Foundation $ 45,000

Company 1,200,000 *

Total $ 1,245,000

22


Employee Contributions 1,221,520

Total $ 3,221,520

United WayThe united Way helps people by providing financial aid to nonprofit

agencies addressing local needs . More than fundraisers, united Ways are

thought leaders and agents for change, working with diverse people and

organizations to help children and youth succeed, strengthen families,

improve access to health care and promote self-sufficiency .

To help the united Way help people, MetLife foundation contributes to

349 united Ways across the country . in addition, MetLife associates make

personal contributions and volunteer with local united Ways and member

agencies .

united Way agencies provide vital health and human services for people of all ages .

M

aK iN G a d i f f E R ENC

E

24

internationalMetLife is committed to being a good corporate citizen in the countries in

which we work and do business . across the globe, MetLife associates are

making a difference in their communities .

The MetLife Mexico foundation supports education and health education

programs for young people across the country, including building and

remodeling classrooms and libraries and substance abuse education .

Millions of visitors and thousands of school children learn about

the environment and how to take care of it in Chapultepec

Park, the main recreational and cultural center of Mexico

City, with our support . MetLife associates volunteer

with Junior achievement to teach young people about

personal finance and business and MetLife’s sales force and

employees sponsor scholarships through Lazos, a charitable

organization dedicated to improving basic education for the

poorest Mexican children .

MetLife foundation awarded a grant to ameriCares foundation, an

international leader in humanitarian aid and relief, to launch its new india

operation and increase global capacity . in Korea, the MetLife Welfare

foundation provides support for disabled and underprivileged students and

community children’s centers and MetLife associates volunteer as mentors .

The first-ever Korea tour of the Orpheus Chamber Orchestra featuring

Korean-american violinist Sarah Chang was funded by MetLife foundation

and resulted in five sold-out concerts . MetLife associates in Brazil built

a small school for disadvantaged children and in australia raised money

for and volunteered to help children with cancer and their families . and

MetLife Taiwan helped launch a program to help adults over 65 stay active

throughout their retirement years .

These are just a few examples of how MetLife is providing support and

MetLife associates are giving their time and talent to help others .

The Orpheus Chamber Orchestra’s tour of Korea included sold-out concerts (above) and outreach events (top right) .

MetLife Mexico foundation supports education for low-income children .

26

LE

Nd

iNG

a H

a N d

volunteerismacross the uS and throughout the world, MetLife volunteers are providing

solutions to issues challenging their communities and demonstrating MetLife’s

culture of caring . Working in teams or as individuals, MetLife associates make

their neighborhoods and towns better places to live and work .

Young people, their education and development are priorities for MetLife

associates . Volunteering with Boys & Girls Clubs, Big Sisters Big Brothers and

other youth-serving organizations, MetLife associates play a critical role in

the lives of young people, serving as positive role models and helping them

learn and succeed . associates also volunteer for Junior achievement (Ja),

helping young people become financially and economically literate . Teams of

associates in florida, New York, Connecticut, Missouri and Rhode island took

part in daylong Ja teach-a-thons and Job Shadow days . in other locations

associates volunteered throughout the school year, teaching young people

about personal finance and workplace readiness .

MetLife associates lend a hand in their communities by building affordable housing, teaching Junior achievement and serving holiday meals to the elderly .

27

associates also provide food and shelter to those

in need and make community improvements .

in Georgia, Ohio, Minnesota, Connecticut, North

Carolina, Massachusetts and illinois, volunteer teams built Habitat for

Humanity homes, providing affordable housing for low- and moderate-

income families . associates served meals to the homebound, people with

aidS and women and families in shelters, providing help and hope . They also

teamed up to restore and repair local schools, parks

and playgrounds and homes for the elderly and

provide gifts for children in hospitals .

STRENG T H E N i N G COM

Mu

NiT

iES

social investment programMetLife’s Social investment Program focuses on the future

through community revitalization and development . Providing

loans and equity investments to organizations that do not

have access to traditional sources of capital, MetLife invests

in projects that improve the quality of life for individuals and

communities in the most basic ways, including affordable

housing, education, economic and community development

and health care services .

28

With MetLife financing, Living Cities is helping to revive inner cities by building homes, businesses, job training centers and more (left and page 31) .

a MetLife loan will help San Ysidro Community Health Center build a new maternal and child primary care facility to serve residents of San diego County (above) .

2007 activitY amount committed

Boston Community Capital $5,000,000 financing for affordable housing, daycare centers, health clinics and other community services in the greater Boston area .

Corporation for Supportive Housing 2,000,000 funding for affordable housing incorporating supportive social services for people with special needs .

Emerging Manager Fund, LLC 10,000,000 investment in a fund of funds that invests in minority and women-owned and managed private equity funds .

Habitat for Humanity 1,300,000 Purchase of bonds backed by mortgages originated by Habitat affiliates nationwide .

Local Initiatives Support Corporation 6,000,000 Enterprise Community Partners 6,000,000 financing as part of the Living Cities, inc . collaborative to support the activities of local community development corporations in 23 cities .

Metropolitan Workforce Housing Fund, LLC 25,000,000 investment to finance ownership housing for moderate income households in the New York metro area .

Texas ACP II, LP 4,600,000 investment to promote small business development in Texas .

The New Generation Fund, LLC 10,000,000 financing to facilitate property acquisition and predevelopment lending to affordable housing developers in Los angeles .

RBC Apollo 2007-A National Fund, LP 26,400,000 Centerline Tax Credit Fund XXXV, LP 25,000,000 Alliant Tax Credit Fund 42, LP 23,700,000 Centerline Tax Credit Fund XXXVII, LP 25,000,000 investments in Low income Housing Tax Credit funds financing affordable housing in 20 states .

Total $170,000,000

STRENG T H E N i N G COM

Mu

NiT

iES

social investment program

29

30

In addition to new commitments made in 2007, MetLife has existing community investments totaling $593.4 million that support a wide range of activities nationwide. Following is a list of borrowers and investment activities:

Affordable Housing

Access Capital, Boston, MA $ 4,653,800

Alliant Capital Low Income Housing Tax Credit Funds, Los Angeles, CA 10,374,891

Boston Capital Affordable Housing Mortgage Fund LLC, Boston, MA 989,379

California Urban Housing Fund, LLC, Los Angeles, CA 8,143,260

Centerline Capital Low Income Housing Tax Credit Funds, New York, NY 64,690,932

CharterMac CRA Preferreds, New York, NY 1,500,000

Community Preservation Corporation, New York, NY 1,403,421

Corporation for Supportive Housing, Oakland, CA 6,000,000

Common Ground Community Property Acquisition Fund, New York, NY* 500,000

CPCR Opportunity Fund II, LLC, New York, NY 3,230,589

Enterprise Community Investment, Inc., Columbia, MD 5,479,861

Genesis Workforce Housing Fund, LLC, Los Angeles, CA 9,820,696

Habitat for Humanity, Americus, GA 3,019,341

Housing Missouri Equity Fund, St. Louis, MO 469,514

Investments in Low Income Housing Tax Credit Partnerships $ 284,533,752

Metropolitan Workforce Housing Fund, LLC, New York, NY 396,608

MMA Financial Low Income Housing Tax Credit Funds, Boston, MA 34,378,575

National Equity Fund, Chicago, IL 3,830,913

PRG Metropolitan Investors LLC, New York, NY 15,029,495

RBC Apollo Low Income Housing Tax Credit Funds, Cleveland, OH 17,052,621

Self-Help Venture Fund, Durham, NC 5,000,000

St. Louis Equity Fund, St. Louis, MO 1,523,203

The Community Development Trust, Inc., New York, NY 9,000,000

Whitelaw Hotel, Washington, DC* 639,347

$ 491,660,198

Economic and Community Development

ACCION New York, New York, NY $ 2,000,000

Advantage Capital Partners, St. Louis, MO 10,540,151

Boston Community Capital, Boston, MA 7,000,000

Child Care Capital Investment Fund, Boston, MA 459,921

Community Bank of the Bay, Oakland, CA 162,800

Community Reinvestment Fund, Minneapolis, MN 3,647,740

Edison Venture Fund VI, LP, Lawrenceville, NJ 1,350,000

Emerging Manager Fund, LP, New York, NY 1,981,077

Enterprise Community Partners, Columbia, MD 6,447,619

ICV Partners, LP, New York, NY 1,770,828

social investment program

31

Life Insurance Community Investment Initiative, Boston, MA $ 563,369

Local Initiatives Support Corporation, New York, NY 13,075,482

Low Income Investment Fund, San Francisco, CA 5,000,000

Massachusetts Business Development Corporation, Boston, MA 1,086,031

Massachusetts Capital Resource Company, Boston, MA 5,257,299

National New Markets Tax Credit Fund, Minneapolis, MN 2,000,000

New Jersey Community Loan Fund, Trenton, NJ 500,000

New York City Investment Fund, LLC, New York, NY 1,000,000

New York Small Business Venture Fund, New York, NY 3,477,742

Nonprofit Finance Fund, New York, NY 6,000,000

Opportunity Finance Network, Philadelphia, PA 250,000

The Retail Initiative, New York, NY* 894,104

SBA Loan Fund, McLean, VA 3,000,000

Shorebridge Capital, Ltd., Cleveland, OH 250,000

Southern Development Bancorp, Arkadelphia, AR* 450,000

Stonehenge Capital, New Orleans, LA 1,485,794

Sustainable Jobs Fund, LP, Durham, NC 298,065

The Reinvestment Fund, Philadelphia, PA 2,000,000

UrbanAmerica, LP, New York, NY 2,239,403

$ 84,187,424

Health Care Services

Asian American Drug Abuse Center, Los Angeles, CA $ 225,316

Bi Bett Corporation, Concord, CA 255,285

Central Coast Neurobehavior Center, Morro Bay, CA 269,495

Community Hospital of Long Beach, Long Beach, CA 169,686

Community Research Foundation, El Cajon, CA 294,258

Desert Haven Enterprises, Lancaster, CA 788,458

Henry Ohloff House, Novato, CA 42,095

Impact Healthcare LLC, San Francisco, CA 1,112,145

Inland Health Care Center, San Bernardino, CA 6,793,695

Interim Health Care Center, Monterey, CA 575,668

La Clinica de la Raza, Pittsburg, CA 289,915

Ontario Pomona ARC, Montclair, CA 642,074

The Recovery Center, Monticello, NY* 629,841

San Ysidro Community Health Center, San Diego, CA 5,000,000

Sanctuary House of Santa Barbara, Santa Barbara, CA 123,861

Sequoia Community Health Center, Fresno, CA 314,707

$ 17,526,498

*MetLife foundation Program Related investment (PRi)

metlife foundation statements of financial position december 31, 2007 and 2006

ASSETS NOTES 2007 2006

Cash and cash equivalents 1 $ 2,282,969 $ 7,561,452

Due and accrued investment income 920,625 759,465

3,203,594 8,320,917

Program-related investments 3,113,293 3,229,716

Other investments, at fair value: Government bonds 33,644,740 8,506,276 Corporate bonds 35,819,862 70,254,988 Equity investments 72,007,232 82,888,509

Total investments 144,585,127 164,879,489

TOTAL ASSETS $147,788,721 $173,200,406

LIABILITIES AND NET ASSETS Cash overdraft 1 $ - $ 679,895

Unconditional grants payable 5 4,630,833 -

Accrued expenses and grants payable 24,171 10,253

Accrued Federal excise taxes 4 346,379 459,645

Amounts payable for investments acquired 33,989 6,530,821

Total liabilities 5,035,372 7,680,614

Net Assets – unrestricted 142,753,349 165,519,792

TOTAL LIABILITIES AND NET ASSETS $147,788,721 $173,200,406

See notes to financial statements

statements of activities and changes in net assetsFor the years ended December 31, 2007 and 2006

REVENUE NOTES 2007 2006

Investment income $ 6,087,569 $ 5,371,543

Realized investment gains – net 7,396,297 11,245,632

Contributions from MetLife: 2 Cash - 35,000,000 Equity investment 11,848,109 -

Total revenue 25,331,975 51,617,175

GRANTS AND EXPENSES

Grants: Paid 35,489,272 32,001,351 Change in accrual for unconditional grants 4,630,833 -

Total grants 40,120,105 32,001,351

General expenses 3 24,101 22,527

Federal excise taxes on investment income and realized investment gains 4 216,484 166,013

Total grants and expenses 40,360,690 32,189,891

(Deficit)/Revenue less grants and expenses (15,028,715) 19,427,284

Change in unrealized appreciation of investments – net of tax (7,737,728) (1,175,405)

CHANGE IN NET ASSETS (22,766,443) 18,251,879

Net Assets – beginning of year 165,519,792 147,267,913

NET ASSETS – end of year $142,753,349 $165,519,792


32

December 31, 2007 and 2006

The MetLife Foundation (the “Foundation”) was formed for the purpose of supporting various philanthropic organizations and activities.

1. ACCOUNTING POLICIES

Summary of Significant Accounting Policies

The Foundation’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) which recognize income when earned and expenses when incurred.

Cash Equivalents and Cash Overdraft - Cash equivalents are highly liquid investments purchased with an original or remaining maturity of three months or less at the date of purchase and are carried at fair value. The Foundation generally invests funds required for cash disbursements in cash equivalents and transfers such funds to its operating bank account when checks are presented for payment. The cash overdraft at December 31,2006 represents grant disbursements that cleared the operating bank account in 2007.

Program-Related Investments - Such investments are authorized by the Board of Directors and represent loans to or equity investments in qualified charitable organizations or investments for appropriate charitable purposes as set forth in the Internal Revenue Code and regulations thereunder, and are carried at outstanding

indebtedness or cost. An allowance for possible losses is established when the Foundation does not expect repayment in full on any program-related loan and when such uncollectible amount can be reasonably estimated. In addition, the income generated by the program-related loans is generally dependent upon the financial ability of the borrowers to keep current on their obligations. For disclosure purposes, a reasonable estimate of fair value could not be made without incurring excessive costs. Maturities of the loan investments range from 2007 through 2013.

Other Investments - Bonds and equity investments are carried at fair value based upon quoted market prices. Excluding investments in U.S. Treasury securities and obligations of U.S. government corporations and agencies, the Foundation is not exposed to any significant concentration of credit risk in its investment portfolio.

Contributions - All contributions received to date by the Foundation have been unrestricted and, therefore, all of its net assets are similarly unrestricted.

Grants - Such transactions are authorized by the Board of Directors. Conditional grants authorized for payment in future years are subject to further review and approval by the Foundation.

Estimates - The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at

statements of cash flows for the Years Ended december 31, 2007 and 2006

2007 2006

CASH FLOWS FROM OPERATING ACTIVITIES:

Change in net assets $ (22,766,443) $ 18,251,879

Adjustments to reconcile change in net assets to net cash provided by (used in) operating activities: Common stock contributed by MetLife – net (11,848,109) - Realized investment gains – net (7,396,297) (11,245,632) Unrealized losses on investment – net 8,064,097 1,201,664 Accretion of discount/amortization of premiums on investments 193,643 240,221 Change in due and accrued investment income (161,160) (12,572) Change in cash overdraft (679,895) (454,272) Change in accrued expenses and taxes (263,768) (28,794) Change in unconditional grants payable 4,630,833 -

Net cash provided by (used in) operating activities (30,227,099) 7,952,494

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of investments 77,613,483 58,375,219

Purchase of investments (52,664,867) (59,488,388)

Net cash provided by (used in) investing activities 24,948,616 (1,113,169)

NET CHANGE IN CASH AND CASH EQUIVALENTS: (5,278,483) 6,839,325

Cash and cash equivalents – beginning of year 7,561,452 722,127

CASH AND CASH EQUIVALENTS – end of year $ 2,282,969 $ 7,561,452

Supplemental disclosures of cash flow information – Federal excise taxes paid $ 167,800 $ 174,800


notes to financial statements

33

the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Since the obligation to make payment of conditional multi-year grants and program-related loans is dependent upon each grantee/borrower’s satisfaction of the applicable conditions, the amount of conditional multi-year grants and program-related loans reported as commitments is based upon the expected or estimated fulfillment of such conditions.

Future Adoption of New Accounting Pronouncements

In June 2006, the FASB issued Financial Accounting Standards Board (“FASB”) Interpretation (“FIN”) No. 48, Accounting for Uncertainty in Income Taxes — an interpretation of FASB Statement No. 109 (“FIN 48”). FIN 48 clarifies the accounting for uncertainty in income tax recognized in a company’s financial statements. FIN 48 requires companies to determine whether it is “more likely than not” that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit can be recorded in the financial statements. It also provides guidance on the recognition, measurement and classification of income tax uncertainties, along with any related interest and penalties. Previously recorded income tax benefits that no longer meet this standard are required to be charged to earnings in the period that such determination is made. FIN 48 will also require significant additional disclosures. The pronouncement is effective January 1, 2008 for the Foundation. The adoption of FIN 48 is not expected to have a material impact on the Foundation’s financial statements.

In September 2006, the FASB issued SFAS No. 157, Fair Value Measurements (“SFAS 157”). SFAS 157 defines fair value, establishes a framework for measuring fair value under GAAP and requires enhanced disclosures about fair value measurements. SFAS 157 does not require additional fair value measurements. The pronouncement is effective January 1, 2008 for the Foundation. Recently, the FASB proposed to partially defer the effective date of SFAS 157 for one year for certain nonfinancial assets and liabilities. This possible deferral will have no impact to the Foundation, since the majority of balance sheet items are financial in nature. The guidance in SFAS 157 will be applied prospectively with certain exceptions. The adoption of SFAS 157 is not expected to have a material impact on the Foundation’s financial statements.

In February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial Assets and Financial Liabilities (“SFAS 159”). SFAS 159 permits all entities the option to measure most financial instruments and certain other items at fair value at specified election dates and to report related unrealized gains and losses in earnings. The fair value option will generally be applied on an instrument-by-

instrument basis and is generally an irrevocable election. SFAS 159 is effective as of January 1, 2008 for the Foundation. The adoption of SFAS 159 is not expected to have a material impact on the Foundation’s financial statements.

2. CONTRIBUTIONS

In October, 2007, MetLife, Inc. and subsidiaries (“MetLife”) contributed an equity investment with a fair value of $12,012,529 to the Foundation. This non-cash contribution is reported net of deferred excise taxes in the Statements of Activities and Changes in Net Assets. In 2006, MetLife contributed cash of $35,000,000 to the Foundation.

3. RELATED PARTY TRANSACTIONS

The Foundation is supported by MetLife. MetLife also provides the Foundation with management and administrative services. However, the Statements of Activities and Changes in Net Assets do not include such costs since they are not significant.

4. FEDERAL TAXES

The Foundation is exempt from Federal income taxes; however, as a private foundation, it is subject to Federal excise taxes on its net taxable investment income and realized capital gains. The rates for current excise taxes were 1% in 2007 and 2006. The rate for deferred excise taxes was 2% in 2007 and 2006.

5. COMMITMENTS

As of December 31, 2007, the Board of Directors had authorized grants for future years as follows.

GRANTS

2008 $4,242,450

2009 1,450,000

2010 1,000,000

2011 1,000,000

$7,692,450

Total authorized grants for future years include $5,000,000 of unconditional grants of which $4,630,833 has been recognized as a liability for financial statement purposes at December 31, 2007.

As of December 31, 2007, there were no conditional grants subject to further review and approval by the Foundation prior to payment.

34

PHOTOS: Cover, top row (left to right): Lazos Program association; Jazz at Lincoln Center; center (left to right): Civic Ventures and Mature Worker Connection; Jeanette de Vore, courtesy Generations united; and bottom: J . Cogswell, courtesy City Year .

Pages 1, 6 (bottom), 26, 27: MetLife; page 2, Yola Monakhov, courtesy Trust for Public Land; page 3: New England foundation for the arts and ilkhom Theatre; page 4, Civic Ventures and ReServe; page 5: Boys & Girls Clubs of america; page 6 (top): artrain; page 8 (top): The Johns Hopkins university School of Medicine; page 8 (center, left) university of Leuven, Belgium; page 8 (center, right): Northwestern university; page 8 (bottom): Robin Holland, courtesy Museum of Modern art; page 10 (top): What Kids Can do; page 10 (bottom): Bronx Community College; page 11: College for Every Student; page 13 (left): National Commission on Teaching and america’s future; page 13 (right): Kristine Larsen, courtesy The Teachers Network; page 14: Local initiatives Support Corporation, Rhine Revitalization Corporation, Keep Cincinnati Beautiful and Cincinnati Police department; page 15: Kevin Jenkins, courtesy City Year; page 17: Enterprise Community Partners and alamo area Mutual Housing association; page 18: epatinophoto .com, courtesy Ballet Hispanico; page 19: James Wasserman, courtesy of the Khmer arts academy and New England foundation for the arts; page 20: american Museum of Natural History; page 21: Peter Gannushkin/dOWNTOWNMuSiC .NET, Courtesy Meet the Composer and Cooper-Moore; pages 22, 23: united Way of New York City; pages 24, 25 (top): Orpheus Chamber Orchestra; page 25 (bottom): Lazos Program association; page 28: Living Cities, Local initiatives Support Corporation and Center for Working families; page 29: San Ysidro Community Health Center; and page 31: Living Cities, Local initiatives Support Corporation and Grand families apartments .

35

independent auditors’ report

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, 2007 and 2006, and the related statements of activities and changes in net assets and of 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 Foundation at December 31, 2007 and 2006, 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.

New York, NY February 8, 2008

36

Requests are accepted and reviewed

throughout the year . Requests and

supporting materials are carefully

evaluated by MetLife foundation .

if the request is within the

foundation’s guidelines and program

priorities and available funds permit

consideration of the request, the

organization may be asked for more

complete information before a

decision is made .

On occasion, the foundation

establishes particular areas of interest

for emphasis within a program area .

When this is done, the foundation

actively searches out promising

opportunities for grants and may

issue requests for proposals .

When an organization submits a

request for either general or project

support, both the organization and

the proposal are evaluated .

among the factors considered are

the organization’s general structure,

objectives, history and management

capability; its relationship to the

community and the population

to be served; its position relative

to organizations serving similar

functions; and its financial position

and sources of income .

in the evaluation of a special project,

the factors considered include the

project’s goals and implementation

plans; length of time for the project

to be completed; the ultimate

disposition of the project; staff

capabilities; benefits of the project;

and the sources of financial and

other support .

in deciding the amount of the

support, factors considered include

availability of funds, relative priorities

and funding patterns . Requests

must be made in writing and should

include the following information:

• a brief description of the

organization, including its legal

name, history, activities, purpose

and governing board

• The purpose for which the grant is

requested

• The amount requested and a list of

other sources of financial support

• a copy of the organization’s most

recent audited financial statement

• a copy of the iRS determination

letter indicating 501(c)(3) tax-

exempt status as an organization

that is not a private foundation

• a copy of the organization’s most

recent form 990-income Tax Return

of Organization Exempt from

income Tax

MetLife foundation makes

contributions only to organizations

that have been granted exemption

from federal income tax under

Section 501(c)(3) of the internal

Revenue Code .

Grants are not made to:

• Private foundations

• Religious, fraternal, political,

athletic, social or veterans

organizations

• Hospitals

• individuals

• Organizations receiving support

from united Way

• Local chapters of national

organizations

• disease-specific organizations

• Labor groups

• Organizations primarily engaged

in patient care or direct treatment,

drug treatment centers and

community health clinics

• Elementary and secondary schools

• Endowments

• Courtesy advertising or festival

participation

The foundation cannot act favorably

on all the requests it receives . Grants

usually fall within the following

broad areas of concern: health, civic

affairs, education, culture and public

broadcasting .

Each request is reviewed to

determine its general eligibility

and conformity to the guidelines,

the foundation’s budget, program

priorities and geographical

considerations .

Grant renewals are not automatic

and cannot be guaranteed from year

to year . a statement of policy and

guidelines is available upon request .

Requests for grants or for additional

information should be directed to:

Sibyl Jacobson

President and Chief Executive Officer

MetLife foundation

27-01 Queens Plaza North

Long island City, NY 11101

Guidelines also are available at

www.metlife.org

how to submit requests for contributions

37

metlife, inc.

metropolitan life

insurance companY

C. Robert Henrikson Chairman of the Board, President and Chief Executive Officer MetLife, inc . and Metropolitan Life insurance Company

Sylvia Mathews Burwell President, Global development Program of the Bill and Melinda Gates foundation

Burton A. Dole, Jr. Retired Chairman of the Board Nellcor Puritan Bennett

Cheryl W. Grisé Retired Executive Vice President utility Group of Northeast utilities

James R. Houghton Chairman Emeritus Corning incorporated

R. Glenn Hubbard dean, Columbia Business School Columbia university

Helene L. Kaplan Of Counsel Skadden, arps, Slate, Meagher & flom LLP

board of directors(as of december 31, 2007)

John M. Keane General, united States army (Retired) Co-founder & Senior Managing director Keane advisors, LLC

James M. Kilts Partner Centerview Partners Management, LLC

Charles M. Leighton Executive director uS SaiLiNG

Hugh B. Price Senior fellow Brookings institution

David Satcher, MD, PhD director, Center of Excellence on Health disparity and The Satcher Health Leadership institute Morehouse School of Medicine

Kenton J. Sicchitano Retired Global Managing Partner PricewaterhouseCoopers LLP

William C. Steere, Jr. Retired Chairman of the Board Pfizer inc .

metlife foundation

Catherine A. Rein Chairman of the Board

Sibyl Jacobson President and CEO

James Lipscomb

Jonathan Rosenthal Treasurer

William J. Toppeta

Michael J. Vietri

Lisa M. Weber

0711-6481© 2008 MetLife, inC. peAnuts © united feature syndicate, inc.

Metropolitan Life Insurance Company200 park Avenue, new York, nY 10166www.metlife.com

FOCUS future - SocialFunds.com · METLifE aNd METLifE fOuNdaTiON. 2007 RepoRt of ContRibutions. ......

Documents

Transcript of FOCUS future - SocialFunds.com · METLifE aNd METLifE fOuNdaTiON. 2007 RepoRt of ContRibutions. ......