Genesys Works Selected as Grant Recipient of Inaugural Pathways to Progress Youth Financial Capability Fund
Houston (November 3, 2017) – The Citi Foundation, in partnership with Prosperity Now, has awarded Genesys Works with a grant from the Pathways to Progress Youth Financial Capability Fund, a new initiative to help nonprofit organizations integrate financial empowerment services into existing employment programming. These efforts will help the young people that Genesys Works serves to connect with the financial mainstream and develop sound money management skills in support of a strong financial future.
The Youth Financial Capability Fund is part of the Citi Foundation’s Pathways to Progress initiative, which supports organizations around the globe that are helping empower urban youth, ages 16 to 24, and are connecting them to opportunities that prepare them for a competitive job market.
Genesys Works is one of five organizations selected to receive a $160,000 grant, in addition to technical assistance, to build financial empowerment services into its existing youth workforce readiness training program.
Through the Youth Financial Capability Fund, Genesys Works will develop a targeted strategy for providing financial education, coaching, and access to appropriate financial products and will then pilot these services with youth participating in programming across our affiliates.
"The chance to earn a first paycheck is also the perfect opportunity to learn key money-management lessons that can set young people up for financial success down the road," said Brandee McHale, president of the Citi Foundation. "Local NGO partners are on the forefront of preparing young people for the world of work. We are proud to support these innovative community changemakers through the Pathways to Progress Youth Financial Capability Fund”.
Prosperity Now will deliver tailored technical assistance and training to help Genesys Works identify the financial needs and goals of the young people we serve and will advise on the design of timely and relevant financial capability program services that will enable them to build the financial skills and confidence necessary to succeed.
“For years, we’ve found that financial capability services that meet people where they are can be transformational,” said Prosperity Now President Andrea Levere. “But more and more, we’re finding that this is especially true when it comes to our young people. We are so thrilled to work with Genesys Works as they meet young people where they are with the knowledge, skills and services they need to look forward to a lifetime of financial security.”
About Genesys Works
Genesys Works is a nonprofit social enterprise changing the trajectory of life for disadvantaged high school students through meaningful work experiences. Its program consists of eight weeks of technical and professional skills training, a paid year-long corporate internship, college and career coaching, and alumni support to and through college. Its goal is to move more students out of poverty and into professional careers, creating a more productive and diverse workforce in the process. Since its founding in 2002, Genesys Works has grown to serve nearly 3,000 students annually in Houston, Chicago, Minneapolis/St. Paul, the San Francisco Bay Area, and Washington’s National Capital Region.
About the Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation’s “More than Philanthropy” approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
About Prosperity Now
Prosperity Now (formerly CFED) believes that everyone deserves a chance to prosper. Since 1979, we have helped make it possible for millions of people, especially people of color and those of limited incomes, to achieve financial security, stability and, ultimately, prosperity. We offer a unique combination of scalable practical solutions, in-depth research and proven policy solutions, all aimed at building wealth for those who need it most.