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Prudential Foundation Awards $5.65 Million In New Grants; Approves $3 Million Newark Social Investment

Stocks in this article: PRU

The board of trustees of The Prudential Foundation approved $5.65 million in grants to support improved educational opportunities for our nation’s children, the fight against hunger and poverty and to expose youth to global cultural experiences, it was announced today.

The grants are:

  • $600,000 over three years to the Alvin Ailey American Dance Theater to help Ailey create a year-round signature dance program that includes AileyCamp Newark, a program that teaches disciplined dance training, personal skills development and behavior competencies.
  • $1 million over three years to Achieve for its work with states to raise K-12 academic standards, assessments and accountability policies to ensure that all students graduate from high school ready for college, careers and life.
  • $1.2 million over three years in general operating support to New Leaders, national organization that develops exceptional school leaders to help ensure the academic success of all children, especially those living in poverty and students of color.
  • $1 million over three years to the Community Food Bank of New Jersey to help it reach the goals of its $15 million capital campaign to fund renovations and expansions to its existing facilities, truck fleet and technology.
  • $1.85 million to The Washington Center to renew and expand The Prudential Foundation Global Citizens Program, which over the next three years will bring 120 students from Brazil, China, India, Japan, South Korea and Taiwan to Washington DC for an enriched experiential and internship experience.

In addition, the board approved a $3 million social investment by the Prudential Social Investment Program to create the Newark Investment Fund, LLC, an entity solely owned by The Prudential Foundation, to be a conduit for loan funds to promote improvements in Newark’s community. In October 2010, Newark was one of five cities selected nationally for the Living Cities Integration Initiative to receive $15 million in grants, program related investments and commercial loans. The funds are to be used to create healthy and thriving neighborhoods in Newark by addressing environmental and community conditions that cause barriers to educational and economic success.

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