Active engagement with our communities around the world, both as a partner and a leader, is a fundamental value at State Street. We are committed to increasing the economic well-being of our communities around the world, especially by helping to equip less-advantaged citizens with the resources they need to be well, thrive and succeed.

In 2007, State Street devoted a portion of its pre-tax profits to the State Street Foundation, Inc., a nonprofit corporation established in 1977. The Foundation funds several of the programs managed by our Community Affairs department.

The focus of Community Affairs continues to be supporting and strengthening the communities where State Street operates. We do this by providing funding to charitable organizations through our Global Philanthropy, United Way and Matching Gift programs. Our three main areas of focus are: Human Services; Educational Programs; and Community Improvement and Development.

State Street also enables community organizations to draw on the resources and talents of our employees through our Global Outreach employee volunteer program. Additionally, the company sponsors fundraising events; makes contributions to small business and affordable housing investment funds, and provides summer jobs to high school students in its Boston headquarters. Our Strategic Sourcing Division also manages a highly successful Supplier Diversity Program.

State Street is classified as a wholesale bank under U.S. Community Reinvestment Act ( CRA) regulations and is evaluated every two years on its record of meeting the needs of communities in which it operates, particularly in low- and moderate-income neighborhoods. State Street's CRA performance is rated "Outstanding" by both the Federal Reserve Bank and Commonwealth of Massachusetts Division of Banks examiners. The rating was most recently affirmed by the Federal examiners after the 2007 exam.

State Street can also have a positive impact on its community in several other ways, including by better managing its environmental footprint. In 2003, the company issued its first Environmental Policy Statement (EPS). That statement was strengthened in 2005 to reflect the development of an Environmental Management System that is being rolled out incrementally to all of our global offices.

Corporate Social Responsibility Report 2007 
Learn more about State Street's impact on the community by reading its annual Corporate Social Responsibility Report, which is based on Global Reporting Initiative guidelines.

Corporate Social Responsibility (CSR) Report Overview 2007 
The CSR Report Overview provides a summary of State Street’s corporate social responsibility initiatives in 2007, including environmental management, community outreach, human rights and more.