We believe in strengthening our communities through philanthropy, volunteerism, giving and nonprofit board service. Voya Foundation is the philanthropic giving arm of Voya Financial and provides grants which support our Financial Resilience giving priority which focuses on (1) providing grades K-12 with the resources to be financially secure in the future; (2) supporting teacher training and rewarding excellence in the classroom; and (3) helping students pursue post-secondary education through our Voya Scholars program. Through this philanthropic work, we focus on financial inclusion and providing the tools and resources for the achievement of financial security.
Our employees are generous with their time and resources. Voya employees volunteer more than 13,000 hours collectively each year and take advantage of the 40 hours of paid Volunteer Time Away provided by the company. Employees donate $2.5 million to nonprofits on an annual basis, which is matched by Voya Foundation for a $5 million investment in our communities. And our leaders actively get involved in the community with more than 50 percent of our top 85 leaders serving on nonprofit boards.
The programs we support through our nonprofit partners tend to serve those who are economically and/or socially disadvantaged. Beneficiaries for all programs are most likely to be (1) racially diverse (non Caucasian); (2) female; (3) living a household where the annual household income is below $25,000; (4) living in a household where the highest education attained is high school or less; and (5) living in a household where the socioeconomic/professional category is unemployed.