State Street Foundation Makes Twenty-Three Grants in Q2 2014
BOSTON — State Street Corporation (NYSE: STT) today announced that its Foundation made 23 grants to support nonprofits in Quincy and Boston during the second quarter of 2014 totaling more than $1 million to support education and career development programs. The State Street Foundation is the charitable grantmaking arm of State Street Corporation.
“As a company headquartered in Massachusetts we are deeply invested in our local community,” said Michael Scannell, senior vice president and head of the State Street Foundation. “We recognize our investments in education and workforce development can have a positive impact in creating and maintaining sustainable employment.”
Adult Education and Employment
Five grants totaling $145,000 were made in support of job placement and retention programs, secondary and post-secondary credential programs, and English as a secondary or other language (ESOL) programs with a focus on programs that provide skills development and support services, as well as language and literacy skills to help adults maintain employment.
One $40,000 grant was awarded to the New England Center for Homeless Veteran’s (NECHV) to support its veterans training school which offers vocational training to homeless veterans to provide them with critical skills to achieve employment.
Youth Education and Employability
Seven grants totaling $435,000 were made in support of academic achievement programs targeted at keeping students on track for high school graduation.
A $150,000 grant was given in support of the Boston Debate League’s Go Deep Initiative, a new program implemented in seven Boston area schools with the goal of transforming school culture and improving graduation rates.
Eight grants totaling $420,000 were made in support of youth academic and employment programs to help build basic job skills.
A $115,000 grant was given to BUILD, a four year old program that uses entrepreneurship to encourage students at risk of dropping out of high school to persevere, graduate and ultimately attend college.
Grants ranging from $10,000 to $250,000 were also made to Father Bill’s and Mainspring, Operation ABLE, Big Brothers Big Sisters of Massachusetts Bay, Big Sister Association of Greater Boston, Bird Street Community Center, South Boston en Accion, Women’s Lunch Place, City Year, Friends of the Children-Boston, Squashbusters, Summer Search, Boys and Girls Clubs of Boston, Center for Teen Empowerment, Friends of Youth Opportunity Boston, Massachusetts Coalition for Occupational Safety & Health, New England Aquarium and the Boston Private Industry Council (PIC).
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $28.4 trillion in assets under custody and administration and $2.48 trillion* in assets under management as of June 30, 2014, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s web site at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold ETF (approximately $33 billion as of June 30, 2014), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.