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The Principal Financial Group Foundation
The Principal Financial Group Foundation was established in 1987 as a 501(c)(3) entity funded by Principal Financial Group. Deanna Strable, the parent...
The Principal Financial Group Foundation
The Principal Financial Group Foundation was established in 1987 as a 501(c)(3) entity funded by Principal Financial Group. Deanna Strable, the parent company's CEO, chairs the foundation, with Jo Christine Miles directing day-to-day community relations and grantmaking. The wealth originates from Principal's core financial services business, and the foundation channels a portion of corporate profits into charitable programming across the communities where Principal operates. The foundation concentrates on removing barriers to financial security. Its grantmaking spans education, workforce development, and basic needs support, with an emphasis on programs that build pathways to economic mobility. Two signature initiatives define its direct-service posture: the Ride United Transportation Access Program, delivered in partnership with United Way Worldwide, addresses transportation as a barrier to employment and healthcare. The DataSetGo program, built with EVERFI from Blackbaud, provides national data science curriculum to high school students. Its geographic focus is rooted in the Midwest, with significant activity in Iowa, though programs like DataSetGo carry national reach. Total grant deployment exceeds $30 million over a recent two-year period, according to the foundation's own reporting. Beyond direct grantmaking, the foundation participates in the Iowa Council of Foundations and the Financial Services Roundtable for Supplier Diversity, signaling an operational focus that extends to capacity-building and industry-wide philanthropic practice. In its most recent public cycle, the foundation continued to fund both local Des Moines-area nonprofits and national education technology partnerships. The foundation operates as a corporate philanthropy vehicle, not an endowed institution with an independent investment portfolio. Its structural differentiator lies in leveraging Principal's employee base and operational expertise to augment cash grants — a model where the corporate parent's human capital and data capabilities inform program design, particularly around financial literacy and data science education.
General information
Firm type
Endowment / Foundation
Year founded
1987
Location
Region
North America
Country
United States
City
Des Moines
Corporate office
Des Moines, IA, United States
Principals
Deanna Strable
Chair, President, and CEO of Principal Financial Group
Jo Christine Miles
Director, Principal Foundation and Community Relations
Sector focus
Frequently asked questions
Who makes the final grantmaking decisions at The Principal Financial Group Foundation?
The foundation operates under the governance of Principal Financial Group's leadership, with CEO Deanna Strable serving as Chair and President. Jo Christine Miles, as Director of the foundation and community relations, leads the day-to-day evaluation and management of grants. Grant recommendations are aligned with the corporate parent's strategic priorities around financial security.
How is the foundation funded, and what is its relationship to Principal Financial Group?
The foundation is a separate 501(c)(3) entity, but it is not an endowed, independent foundation. It receives its funding directly from Principal Financial Group, Inc., typically as an annual corporate contribution tied to profitability. This structure means its grantmaking budget fluctuates with the parent company's financial performance, and its mission remains tightly coupled with Principal's corporate social responsibility strategy.
Does the foundation accept unsolicited grant proposals?
The foundation works primarily through invited proposals and strategic partnerships, rather than a broad open application process. Major programs like the Ride United initiative with United Way Worldwide and DataSetGo with EVERFI are developed through structured national partnerships. Local Des Moines-area grants are typically directed to established community organizations aligned with the foundation's focus areas.
What is the Ride United Transportation Access Program?
Ride United is a program designed to address transportation insecurity — a barrier that prevents individuals from accessing jobs, healthcare, and education. The foundation partners with United Way Worldwide to provide rideshare and transit solutions in communities where Principal operates. The program reflects the foundation's thesis that financial security begins with basic mobility.
Does the foundation have geographic restrictions on its grantmaking?
The foundation's grantmaking is concentrated in communities where Principal Financial Group has a significant employee presence, most notably the Des Moines metropolitan area. However, its national partnerships — particularly DataSetGo — allow it to support programming across multiple states. The foundation does not traditionally fund international initiatives.
How is the foundation's work distinct from Principal Financial Group's commercial business?
While legally separate, the foundation's mission complements the parent company's business of providing retirement, insurance, and asset management services. The foundation does not make program-related investments or pursue market-rate returns; its activity is purely grant-based philanthropy. Its distinct value is using Principal's internal expertise in financial literacy and data analytics to shape evidence-based charitable programs.
What have been the foundation's largest known grant commitments?
The foundation does not publicly itemize individual grant sizes, but its two largest programmatic commitments are the Ride United partnership with United Way Worldwide and the DataSetGo initiative with EVERFI from Blackbaud. Together, these national programs represent a multi-million dollar, multi-year investment in mobility and data science education, consistent with the foundation's aggregate $30 million deployment figure over a two-year period.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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