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State Street Awards Local Nonprofits Grants Totaling More Than $1 Million To Support Employment And Education Programs

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.

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