Move to PROSPER improves life outcomes for single mothers and their children through residential and financial stability
Submitted by KeyBank
COLUMBUS, Ohio, March 9, 2022 /CSRwire/ -- KeyBank and Move to PROSPER (MTP) announce an impact grant from KeyBank Foundation of $150,000 to support MTP’s Empower 100 project, an initiative that improves outcomes for single mothers with low-wage jobs, and their children. MTP’s innovative program creates residential and financial stability through temporary rental support and comprehensive life coaching that facilitates successful moves to higher resourced communities.
“Our pilot families will graduate this May and over the course of the program, they’ve seen their incomes rise by an average 58%, or $17,000,” said co-founder and President Amy Klaben, Esq. “That shows us that our approach works, and we are so grateful to KeyBank for investing deeply in our plans to serve more families with this unique approach.”
Specifically, Key’s three-year grant will help MTP provide rental support with life coaching to 100 families over the next three years, enabling them to secure stable housing in higher socioeconomic communities. KeyBank previously supported the successful 10-family pilot program with a grant in 2018. The new program launches with a cohort of 16 families in 2022 and five more 16-family cohorts in 2023 and 2024. Cohorts will be added as new funds are raised to support new families.
“KeyBank joins Move to PROSPER in the belief that everyone in our community should have safe and affordable housing. As a community-minded bank, we are committed to providing access to capital and support to neighborhoods and neighbors who have often faced unfair financial barriers,” said KeyBank’s Central Ohio Market President, Lara DeLeone. “We are pleased to partner with MTP and its community partners on the Empower 100 program as an innovative new model to lift up at-risk families throughout Columbus.”
KeyBank Foundation’s grant to Move to PROSPER is made under Key’s National Community Benefits Plan established in 2017, which has already delivered more than $18 billion in lending and investments across Key’s national footprint supporting affordable housing and community development projects, home and small business lending in low- and-moderate income communities, and philanthropic efforts targeted toward education, workforce development, and safe, vital neighborhoods.
“Our Central Ohio community has parents who are working very hard to support their families, yet their jobs pay them a poverty wage,” said co-founder of MTP Rachel Kleit, PhD., Associate Dean for Faculty Affairs at The Ohio State University, College of Engineering. “Move to PROSPER provides that extra lift for families: trusted coaches, information that supports their goals for their families, and safe and highly resourced neighborhoods. Philosopher Maimonides identified the highest level of charity to someone as entering into partnership, finding employment, or otherwise strengthening the individual. KeyBank is showing that partnership with our families, and we are grateful for this leadership gift.”
About Move to PROSPER:
Move to PROSPER improves life outcomes for children and their families by creating opportunities for residential and financial stability. We provide temporary rental support and comprehensive coaching to facilitate individual and family success in their transition to higher resourced communities. MTP launched its three-year pilot in the spring of 2018 and extended the pilot for 1 year due to the impact of COVID-19 on the children and families in the initiative. Due to the success of the pilot, MTP is continuing its program for the next 100 families in Empower 100. MTP will continue to measure the impact of its innovative coaching program.
KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $186.3 billion at December 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
About KeyBank Foundation:
KeyBank Foundation serves to fulfill KeyBank’s purpose to help clients and communities thrive, and its mission is to support organizations and programs that prepare people for thriving futures. The Foundation’s mission is advanced through three funding priorities – neighbors, education, and workforce – and through community service. To provide meaningful philanthropy that transforms lives, KeyBank Foundation listens carefully to understand the unique characteristics and needs of its communities and then backs solutions with targeted philanthropic investments. KeyBank Foundation is a nonprofit charitable foundation, funded by KeyCorp.
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KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $176.2 billion at March 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
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