NAIW International legacy foundation
The NAIW International Legacy Foundation was formed in 2006 as the philanthropic arm of NAIW International, now the International Association of Insurance Professionals, an association of insurance and risk management professionals dedicated to the perpetuation of those industries through education, networking and industry alliances. The NAIW International Legacy Foundation gained its IRS 501 (c) (3) status on April 6, 2007 allowing gifts to the Foundation to be tax deductible.
Prior to forming the organization as it currently exists, the Foundation has a rich history in supporting the insurance and risk management community.
NAIW Education Foundation
The Executive Boards of the National Association of Insurance Women (International) had a long range goal of developing an educational foundation. This goal was achieved on July 8, 1993 when the NAIW Education Foundation was officially incorporated. The Foundation gained its IRS 501 (c) (3) status on March 24, 1994 allowing gifts to the Foundation to be tax deductible.
The National Association of Insurance Women (International) provided $25,000 in seed money for the establishment of the NAIW Education Foundation. From this initial contribution, the Foundation operated solely by donations from individuals, industry groups, foundations, corporations and industry-related businesses.
The Founders’ Circle was established in 1994. This elite group comprised of NAIW (IAIP) members and industry employees who provided funds through their pledges of $1,000 or more to support the mission: to promote excellence in the insurance industry by underwriting the education of current and future employees.
Insurance Scholarship Foundation of America
In June of 2005, with a strong commitment to its beginnings, the NAIW Education Foundation began to operate as the Insurance Scholarship Foundation of America: Founded by Members of NAIW. This growth allowed the Foundation to continue with its commitment to NAIW and its members as well as a recognized provider of scholarships to college and university students.
Since the Foundation was founded in 1993, the NAIW Education Foundation and ISFA awarded over $460,000 in academic scholarships to men and women pursuing a college degree and to professionals in the insurance industry working to enhance their knowledge and careers. ISFA also supported The Institutes National Honors Program Award of Academic Excellence and Distinguished Graduate Award for the Associate in Insurance Services (AIS) Program.
In 2015, the ISFA Board of Directors made the difficult decision to dissolve the Foundation due to the long downturn in the economy and the devastating effect it had on philanthropy and investment income.