State Street Awards More than $1 Million to Education, Workforce Development and Sustainable Employment Programs
October 31 2014 - 11:08AM
Business Wire
State Street Foundation Makes 22 Grants in the Third Quarter of
2014
State Street Corporation (NYSE: STT) today announced that in the
third quarter of 2014, its Foundation made 22 grants totaling over
$1 million dollars to support education, workforce development and
sustainable employment programming at nonprofit organizations
located in Quincy and Boston. The State Street Foundation is the
charitable grant-making arm of State Street Corporation.
“Our investments in these programs help those in need to learn
the skills necessary to support themselves and their families,”
said Michael Scannell, senior vice president and head of State
Street Foundation. “By increasing an individual’s earning potential
and his or her chances of maintaining employment, we are directly
contributing to the overall health and well-being of our local
communities in Massachusetts and beyond.”
Adult Education and Employment
- Thirteen grants totaling more than
$600,000 support job placement and retention programs, secondary
and post-secondary credential programs and English as a Secondary
or Other Language (ESOL) programs. These grants focus on programs
that provide training and services to help adults obtain and retain
jobs with a determined career path.
- A $150,000 grant was made to the New
England Center for Arts & Technology (NECAT) for its culinary
arts adult job-training program. NECAT has enrolled more than 100
adults since opening in 2013 and approximately 82 percent of those
that have completed the culinary arts program have found full time
employment.
Youth Education and Employability
- Five grants totaling nearly $300,000
were made to academic achievement programs that provide targeted
attendance, behavior and course performance interventions to keep
students on track for high school graduation.
- Four grants totaling $155,000 were made
to support academic persistence and employment programs that help
build basic job readiness skills along with education and career
aspirations through a meaningful entry level job experience.
- State Street continues to support
Bottom Line and the Boston Private Industry Council, among other
organizations, which identify at-risk students who may benefit from
an enhanced educational framework to remain motivated to stay in
school. These organizations use mentoring, employment
opportunities, internships and other incentives to keep students
engaged and on track for graduation.
In addition to NECAT, Bottom Line and the Boston Private
Industry Council, other grantees receiving funding in the third
quarter of 2014 are: American Red Cross of Massachusetts Bay,
America Scores Boston, Asian American Civic Association, Boston
Higher Education Resource Center, Career Collaborative, Community
Economic Development Assistance Corporation, Community Work
Services, East Boston Ecumenical Center, Education Pioneers, Jewish
Vocational Services, LIFT-Boston, MathPower, Northeastern
University’s Foundation Year, One Family Inc., Quincy Community
Action Program, Quincy High School, Root Cause Institute and
Zumix.
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 $28.47 trillion in assets
under custody and administration and $2.42 trillion* in assets
under management as of September 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 $30 billion as of September 30, 2014), for which
State Street Global Markets, LLC, an affiliate of SSgA, serves as
the distribution agent.
CORP-1150
State Street CorporationAnne McNally, 1
617-664-8576aemcnally@statestreet.comwww.statestreet.com@StateStreet
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