|By PR Newswire||
|February 16, 2014 06:15 PM EST||
LOUISVILLE, Ky., Feb. 16, 2014 /PRNewswire/ -- Northwestern Mutual, an official corporate partner of the NCAA®, made a donation today of $250,000 to Kosair Children's Hospital in Louisville, Kentucky during the University of Louisville basketball game at the KFC Yum! Center. The money represents the proceeds to date from the sale of souvenir pieces of the floor on which the University of Louisville men's basketball team won the 2013 national championship.
Following the 2013 tournament finals in Atlanta, Northwestern Mutual acquired the basketball court to create philanthropic opportunities in local communities that the company serves.
Most of the floor was cut into thousands of souvenir pieces and made available to Cardinals fans as mementos of the team's historic season. The response has been enthusiastic, and while a few pieces are still for sale, proceeds so far have totaled $250,000.
The money was donated today to Kosair Children's Hospital in Louisville specifically to support pediatric cancer research being conducted by Kenneth Lucas, M.D., chief of Pediatric Hematology/Oncology at Kosair Children's Hospital and division chief of Pediatric Hematology-Oncology and Stem Cell Transplantation for the University of Louisville Department of Pediatrics.
"We're thrilled to be able to support childhood cancer research in this way through the work of Dr. Lucas and his team," said Dan Rivers, Northwestern Mutual managing partner in Kentucky. "The real stars of this effort are the children who are battling pediatric cancer every day, and in buying these floor pieces U of L fans have delivered a critical assist in that fight. We're honored to help make that happen."
This is the second year in a row that Northwestern Mutual has used the NCAA championship floor to raise money for charity. Following the University of Kentucky's win in the 2012 tournament, Northwestern Mutual auctioned off several hundred pieces of that year's floor, which netted $202,000 for pediatric cancer research which was split between Kosair Children's Hospital to fund research by Dr. Lucas and his team and Kentucky Children's Hospital.
In addition, Northwestern Mutual donated the massive center-court portion of the floor featuring the Final Four® logo – more than 570 square feet and weighing some 10,000 pounds – to the University of Louisville. It was hung in the lobby of its home court arena, the KFC Yum! Center last fall.
About Northwestern Mutual
Northwestern Mutual is among the "World's Most Admired" life insurance companies in 2013 according to FORTUNE® magazine and has helped clients achieve financial security for more than 156 years. As a mutual company with $1.4 trillion of life insurance protection in force, Northwestern Mutual has no shareholders. The company focuses solely and directly on its clients and seeks to deliver consistent and dependable value to them over time.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and Russell Investments.
NCAA is a trademark of the National Collegiate Athletic Association.
SOURCE Northwestern Mutual