MetLife Foundation Announces Recipients of Its $10 Million Fund Aimed at Addressing the Income and Wealth Divide
05 Dezember 2023 - 3:00PM
Business Wire
Grants awarded to 24 non-profit organizations
from communities across the United States through the Foundation’s
Accelerating Commitment to Equity Innovation Fund
MetLife Foundation today announced the 24 non-profit recipients
of its two-year, $10 million Accelerating Commitment to Equity
Innovation Fund (ACE Innovation Fund). The fund aims to democratize
access to capital for non-profit organizations addressing income
and wealth inequality in communities that have been historically
and systemically disinvested.
Each non-profit recipient was awarded a $250,000 grant to
implement or accelerate their proposal. These proposals center on
one of the focus areas of the ACE Innovation Fund – financial
security and longevity, small business growth and job creation,
narrative change, homeownership, affordable housing and community
revitalization, and good jobs.
“We are living in a dynamic environment that requires us to
address the most pressing issues of today head on, while advancing
our work for the future,” said Tia Hodges, President and CEO of
MetLife Foundation and Head of Corporate Giving and Employee
Volunteerism at MetLife. "Our vision for the ACE Innovation Fund is
to address the growing income and wealth divide and instill
confidence for the future by investing in the visionary, bold, and
forward-looking solutions of today’s leaders and non-profits.”
The 2023 ACE Innovation Fund grantees have significant work or
plan to implement their proposal in Atlanta, GA; Cary, Durham and
Raleigh, NC; Chicago, IL; Newark, NJ; New York, NY; San Francisco,
CA; or Tampa, FL. The selected grantees are part of a national
cohort of actively engaged peers that will network and participate
in a community of practice.
The full list of grantees can be viewed on MetLife Foundation’s
website, and include:
- Atlanta Wealth Building Initiative to accelerate the capacity
building and technical assistance programming of business-serving
organizations to prepare Black-owned businesses to receive capital
in Atlanta, GA.
- Chicago Community Loan Fund to accelerate efforts to educate
and provide low-interest loans to residents of aging buildings to
make improvements to the buildings – raising the value of
cooperatively operated housing while keeping elderly residents
homed in Chicago, IL.
- La Casa de Don Pedro to implement their healthy homes and
community empowerment programs in Newark, NJ, fostering
self-sufficiency, empowerment and neighborhood revitalization by
bringing together essential local services to enhance affordable
housing.
- MDC, Inc. to implement the coordination of an Integrated
Services Delivery Network of community-based organizations in
Durham, NC, connecting low-income residents with public benefits,
social supports and career training.
- The Laundromat Project to accelerate programs that build
stronger community connections, promote cultural preservation and
facilitate generational wealth building for longtime residents of
Brooklyn, NY.
- The New York Women’s Foundation to implement the Bronx Economic
Justice Project to advance opportunities within the green economy
and develop a cohort of women and gender-expansive individuals
focused on advancing economic security in Bronx, NY.
The ACE Innovation Fund recipients will take part in a cohort to
measure impact and report on the outcomes of their interventions,
with the opportunity to receive up to $150,000 in follow-on
funding. MetLife Foundation is partnering with the Urban Institute
Racial Equity Analytics Lab to study and measure the impact of each
recipient’s interventions and Community Resource Exchange (CRE) to
provide capacity building support for grantees and their staff.
This wraparound support is integral to the ACE Innovation Fund to
put tools, resources and advantages in the hands of the grantees to
fully implement or accelerate their programs.
For more information on MetLife Foundation and the ACE
Innovation Fund, visit www.MetLife.org.
About MetLife Foundation
At MetLife Foundation, we are committed to driving inclusive
economic mobility for underserved and underrepresented communities
around the world. We collaborate with nonprofit organizations and
provide grants aligned to three strategic focus areas – economic
inclusion, financial health and resilient communities – while
engaging MetLife employee volunteers to help drive impact. MetLife
Foundation was established in 1976 to continue MetLife’s long
tradition of corporate contributions and community involvement.
Since its inception, MetLife Foundation has contributed over $1
billion to strengthen communities where MetLife has a presence. To
learn more about MetLife Foundation, visit www.metlife.org.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231205832727/en/
For Media: Olivia Janicelli (212) 578-3547
olivia.janicelli@metlife.com
MetLife (NYSE:MET)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
MetLife (NYSE:MET)
Historical Stock Chart
Von Mai 2023 bis Mai 2024