Funding Will Support the Mission of Focusing All Available Resources on Low-Income Schuylkill County Residents Empowering Them to Achieve Self-Sufficiency
Pottsville, PA – March 27, 2024 – The M&T Charitable Foundation, the philanthropic arm of M&T Bank (NYSE:MTB), today announced that it has awarded $30,000 to Schuylkill Community Action. The grant is part of the 30 & 30 Initiative in which 30 organizations across the bank’s footprint received $30,000 to fight homelessness and develop affordable housing in low-to moderate-income communities. The 30 & 30 Initiative was launched in commemoration of the foundation’s 30th anniversary.
Schuylkill Community Action provides a host of direct services and opportunities that addresses the needs of low-income residents within Schuylkill County, PA. “This funding will enable us to enhance our agency’s capacity in supporting low-income residents of Schuylkill County as they strive to achieve housing stability and work towards self-sufficiency,” said Dave Young, Executive Director of Schuylkill Community Action. “With this grant, we aim to extend our reach and impact, empowering individuals to overcome barriers and build brighter futures within our community.”
“Since its beginning, the foundation’s reach and impact for organizations like Schuylkill Community Action have been expansive, profound, and lasting,” said Dominique Goss, Executive Director of the M&T Charitable Foundation. “The 30 & 30 Initiative is a sign of what’s to come for the next 30 years and reflects our commitment to tackling critical issues like affordable housing and supporting efforts to provide families the ability to live and thrive in the communities we serve.”
Supporting the development of affordable housing is an important part of the bank’s $43 billion Community Growth Plan which includes $20 billion for community development initiatives and affordable housing.
More than 90 different organizations were nominated by teams in each of the company’s regions.
To finalize the 30 recipient organizations and distribute the funding, the Foundation collaborated with OutcomesX, a first-of-its-kind social outcomes market that leverages Impact Genome Registry’s (IGR) impact standard to bring transparency and equity to the social sector.
To execute the initiative, nominated organizations were asked to register their program with IGR to ensure it met the Foundation’s criteria. Using the standardized information, M&T employees in each region voted for their charity of choice, assisting in the selection of the 30 grant-recipient organizations.
The finalist organizations were then required to verify their impact with the IGR. This process enabled the Foundation to understand the actual social impact that each organization and grant had on the communities they serve. Each $30,000 grant is unrestricted so that resources can be allocated where they are needed most, enabling the organizations to address evolving community needs and challenges.
Founded in 1993, the M&T Charitable Foundation works in partnership with non-profit organizations that focus on improving the quality of life for the bank’s customers, employees, and neighbors. Awarding nearly $40 million in grants each year, the Foundation has given more than $534 million to thousands of nonprofit organizations throughout its 30-year existence.
For more information on the 30 & 30 Initiative, including the full list of grant recipients and their locations, please click here.
https://www3.mtb.com/amplifyfund
About M&T Charitable Foundation
The M&T Charitable Foundation, the philanthropic arm of M&T Bank, is a 501(c)(3) not-for-profit charitable organization founded in 1993 and funded by M&T Bank. The M&T Charitable Foundation awards nearly $40 million in grants per year to thousands of nonprofit organizations focused on improving the quality of life in the areas the bank serves.
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T’s Wilmington Trust-affiliated companies and by M&T Bank. For more information on M&T Bank, visit www.mtb.com.
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Media Contacts:
New England
Christopher Loh
cloh@mtb.com
Metro NY
David Samberg
dsamberg@mtb.com
Upstate and Western New York
Thea Pecht
tpecht@mtb.com
National Media and Mid-Atlantic:
Frank Lentini
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About OutcomesX
OutcomesX is a social outcomes market whose mission is to transform social impact into a tradable good that impact investors, corporations, and philanthropy can purchase from vetted nonprofits and social enterprises. OutcomesX creates the infrastructure to standardize, price, trade, and report on social impact where outcome buyers benefit from price discovery and verified data to inform social spend, and impact producers get access to liquidity and reduced fundraising and reporting burden. Above all, OutcomesX brings efficiency and equity to the business of social impact, allowing any organization, large, small, or community-led, access to capital based on their results.
