How One Global Corporate Funder Stays in Tune with Local Needs

Although the State Street Foundation is headquartered in Boston, the corporate grantmaker has 39 community support program committees in 26 countries around the world to establish programs and manage relationships with grantees. But despite this broad reach, State Street still makes Boston nonprofits a priority. In fact, State Street was named the top charitable contributor in the state of Massachusetts in October 2013.

Related - State Street Foundation: Boston Area Grants

The State Street Foundation recently announced over $1 million in support of local education and career development programs in Boston and Quincy. This grant money was split between 23 nonprofits that offered programs within in two specific categories.

Youth Education and Employment

Programs that promote youth education and future employability are a top local priority for the State Street Foundation. The largest grants in this category went towards academic achievement programs that keep students on track to graduate high school. The foundation awarded seven of these grants totaling $435,000. State Street made eight grants totaling $420,000 to support youth employment programs that build basic job skills. Within the $10,000 to $250,000 range, recent grants were made to the Boston Debate League, BUILD, Big Brothers Big Sisters of Massachusetts, Friends of the Children – Boston, and the Center for Teen Empowerment, among others.

Adult Education and Employment

Although somewhat less of a priority, the State Street Foundation also supports local programs related to adult education and employment. The foundation made five grants totaling $145 to support job placement and retention programs, post-secondary credential programs, and ESOL programs that provide skill development. The largest grant in this category was $40,000 and went to the New England Center for Homeless Veterans to support its training school.

“As a company headquartered in Massachusetts we are deeply invested in our local community,” said Michael Scannell, Senior Vice President 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.”

The State Street Foundation is the grantmaking arm of State Street Corporation, a financial investment services provider with $28.4 trillion in assets under custody and administration. Proposals are accepted on a rolling basis. The first step for all nonprofits in the United States is to complete an egibility quiz and a preliminary grant application. But your nonprofit operating is operating in the Boston area, the name to know is Amanda Northrop, who manages all local giving in the Boston area and can be reached at alnorthrop@statestreet.com