We believe a successful company has a responsibility to the greater community, which is why our legacy of philanthropic giving to nonprofit organizations and civic institutions in the cities and communities where we operate is deeply connected to our core business.
Our approach to philanthropy is comprised of three main parts. The Tiffany & Co. Foundation was established as a critical piece of our global sustainability efforts and has contributed to long-term social and environmental change. Our Corporate Giving program helps our Company support local communities and connect with our customers around shared values, such as the arts and environmental conservation. We also support the issues our employees are passionate about through our Tiffany Cares program, which encourages employee giving and volunteering. Each year, we aim to donate at least 1% of our pre-tax earnings to charitable purposes. In 2018, our corporate contributions totaled approximately $12.5 million, or approximately 1.7% of pre-tax earnings.
The Tiffany Co. Foundation
The Tiffany & Co. Foundation’s grantmaking is strategically aligned to complement our sustainability efforts, supporting progress on issues that matter to our business and stakeholders. The Foundation’s mission is to preserve the world’s most treasured seascapes and landscapes. Since 2000, the Foundation has awarded more than $80 million in grants, mainly focusing on organizations that advance responsible mining efforts and that protect the world’s oceans and coral reef ecosystems. When it comes to responsible mining, the Foundation promotes remediation and preservation of culturally or environmentally significant lands. The Foundation supports the protection of our oceans and coral reefs by making grants to organizations working to expand the world’s marine protected areas, as well as organizations that are dedicated to research, education and raising awareness of the importance of our oceans and the threats they face.
Our tradition of corporate giving helps us connect with our customers around shared values, such as the arts and environmental conservation. This tradition began when our founder, Charles Lewis Tiffany, and his son, Louis Comfort Tiffany, supported The Metropolitan Museum of Art and the New York Society of Fine Arts in our hometown of New York City. Today, we have expanded our support for the arts through corporate giving, such as our long-term engagement with the Whitney Museum of American Art in New York and our partnership with the Outset Contemporary Art Fund in London to support the next generation of artists.
Tiffany & Co. is also committed to protecting the natural world. As part of our ongoing conservation efforts, we continue to donate 100% of profits from the Tiffany Save the Wild collection to the Wildlife Conservation Network. In 2018, our corporate financial and in-kind donations totaled approximately $8.4 million.
Our Company’s cultural values guide us to “do the right thing” and “be brilliant together.” We are proud to support the causes our employees are passionate about in two ways: by matching employee donations dollar-for-dollar up to $1,000 per employee per year, and by encouraging their volunteer efforts by donating $100 to eligible nonprofit organizations for every 10 hours of volunteer time employees contribute. We started Tiffany Cares in the U.S.; and more recently, we have expanded the program throughout Canada, Australia, New Zealand, the U.K. and Ireland, and continue to grow the program globally.