Principal Financial Group
Des Moines, Iowa
 
Bestowed 1998

Principal Financial Group began supporting the arts in the 1930s to promote cultural awareness, reach diverse audiences and foster employee participation in the arts. In 1997, The Principal allocated 45% of its total philanthropic contributions to the arts in its headquarters area and in its operating communities.

The Principal has benefited the arts, business and the community by:

• Making a grant of $1.9 million in 1997 to be a major sponsor of “American Visions,” which included a Public Broadcasting Systems eight-part series; a companion book and a special issue of “Time” magazine, both titled “American Visions: The Epic History of Art in America;” two Web sites; and educational materials. The Principal also organized many employee programs in conjunction with this sponsorship.
• Establishing a corporate art collection in 1985 to promote creativity, introduce new ideas and enhance employee morale. The company offers guided tours of its collection for its employees, as well as for educational and community organizations. Exhibitions are presented in the company's ArtZone, an exhibition space in its headquarters building. These are often accompanied by special demonstrations and workshops.
• Commissioning Maya Lin in 1996 to create “A Shift in the Stream,” a site-specific work for a new Helmut Jahn-designed building added to its headquarters complex in Des Moines, Iowa. In 1993, the company commissioned Terry Schoonhoven and Astrid Preston to create site-specific murals for one of the company's headquarters buildings. Three years earlier, James Turrell received a commission from The Principal to create a site-specific environment entitled “Last Breath,” also in a headquarters building.
• Supporting the Des Moines Art Center with operating grants, special project support and donations of art, such as a major outdoor sculpture by Henry Moore given to the center in 1997 to celebrate the center's 75th Anniversary. Three years prior, the company sponsored the exhibition “Jean-Michel Basquiat,” as well as outreach and educational programs activities associated with the exhibition. More than 14,400 individuals, including inner-city and at-risk children, viewed the exhibition or participated in related activities. The Principal also collaborated with the center to organize walking tours of corporate art collections throughout Des Moines.
• Underwriting the Iowa premiere in 1996 of the Academy-award winning documentary film, “Maya Lin: A Strong Clear Vision.” The premiere was organized as a benefit for the Des Moines Art Center, the Iowa Natural Heritage Foundation and the Iowa Chapter of the Nature Conservancy, all in Des Moines, Iowa. The Principal also underwrote the presentation of the film for its employees, and collaborated with Des Moines-area educational institutions to offer a second, free-to-the-public screening.
• Supporting the Des Moines Symphony, Des Moines, Iowa, and commissioning four new symphonic works in 1993 by composers Roger Cicchi, Libby Larsen, Michael Torke and a college composing student. Additionally, The Principal played a major role in the symphony's 1987 search for a new conductor, and provided underwriting to produce the symphony's first compact disc recording and promotional materials.
• Underwriting the catalogue to accompany an exhibition in the Bemis Center for Contemporary Arts, Omaha, Nebraska, of works created by homeless individuals. All proceeds from the exhibition and sale of works were given to the shelters where the works were created.
• Designating more than 55% of The Principal's total contributions to the arts in its operating communities in California, Colorado, Delaware, Iowa, Nebraska, Texas and Washington, D.C., for general operating support.
• Encouraging employees of The Principal to serve on the boards of directors of many arts organizations in the company's operating communities, and offering an assortment of volunteer services, including assistance with “Art in the Park” and “Open House,” both annual visual arts festivals sponsored by the Des Moines Arts Center, as well as for “Jazz in July,” an annual month-long celebration of jazz.
• Organizing activities and events to increase awareness and appreciation of the arts for employees through the company's Art Associates program. This program includes “Art in August,” a month-long celebration of the arts for employees and their families. Additionally, more than 100 employees participate annually in The Principal Singers, the company's in-house chorus which performs in nursing homes, shopping centers and other community centers.
• Providing its employees with information about the arts through a regular employee newsletter and electronic bulletin boards, and offering them free or discounted tickets to performing arts events.