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Hagerty Enhances Community Support With Grants And Volunteer Initiatives In 2024
In a significant move towards bolstering the Grand Traverse region, Hagerty, Inc. (NYSE: HGTY), a distinguished automotive enthusiast brand and a foremost provider of specialty vehicle insurance, has unveiled its latest contributions to local community support. The Traverse City-based company disclosed that it has allocated over $28,000 in local corporate giving grants alongside dedicating more than 1,000 volunteer hours throughout the initial quarter of 2024. This initiative underscores Hagerty's unwavering commitment to fostering environmental stewardship, economic development, and enhancing community resilience, including crisis relief efforts.
Since its inception, Hagerty has channelled more than $5.5 million into supporting local organizations, thereby playing a pivotal role in the community's development. Among the beneficiaries of the first quarter grants for 2024 are several noteworthy organizations. Michael’s Place in Traverse City stands out for its comprehensive bereavement support services for both children and adults. The grant aims to bolster programming support through the recruitment and training of staff and volunteers, ensuring sustained bereavement education and crisis preparedness.
Another recipient, the Northwest Food Coalition, represents approximately 70 food pantries and meal sites across the 5-county Grand Traverse area. The coalition's efforts to provide nutritious food to those in need will be further enhanced through an Empty Bowls fundraiser, supporting the Farm2Neighbor Fund's initiative to distribute locally grown produce.
The Traverse Area Recreation and Transportation (TART) trails network also benefits from Hagerty's generosity. The grant will facilitate the annual Tour de Tart bicycle event, promoting family-friendly outdoor activities while enriching community ties. Additionally, Green Elk Rapids receives support for Nature Fest 2024, an event designed to connect community members with regional environmental organizations and raise awareness on pertinent environmental issues.
Outside of Michigan, BGOLDN in Golden, Colorado—where Hagerty maintains an office—receives backing to expand its mobile "Farmer’s Market on Wheels." This initiative aims to alleviate food scarcity by providing fresh produce to low-income families within a targeted area.
In parallel with financial grants, Hagerty employees have collectively volunteered 1,094 service hours through the Hagerty CARes program in the first quarter alone. This volunteerism translates into an additional economic impact of $34,789. Employees engaged with 44 different causes, including Safe Harbor and the Father Fred Foundation, demonstrating a broad spectrum of community support.
Marking its 40th anniversary, Hagerty introduced the "40 for 40 Volunteer Challenge," encouraging employees to further engage in volunteerism. The first 40 team members to complete 40 hours of volunteer work will receive a $500 donation to direct towards a nonprofit of their choosing.
Hagerty's mission extends beyond insurance services; it is deeply rooted in preserving driving experiences and nurturing car culture for future generations. With operations spanning across Canada and the U.K., and housing over 800,000 members in the Hagerty Drivers Club, the company continues to be a beacon for automotive enthusiasts worldwide. For more information on Hagerty’s community initiatives and services, visit their website or connect via social media platforms.
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