State Street Foundation
/OVERVIEW: State Street supports education and workforce development efforts in twenty-six countries around the world.
IP TAKE: This is a modest, but approachable corporate funder that accepts applications online. State Street prefers to work with organizations that produce productive members of society by putting youth into traditional and secure employment environments. Though accessible, this funder’s grant process is a bit lengthy. Grantmaking spans the local, national and international levels.
PROFILE: The State Street Foundation is the charitable arm of State Street Corporation, a Boston-based financial services firm. State Street’s grantmaking is based on the principle that “the most effective way to improve the overall well-being of our communities is to help disadvantaged individuals earn and make a living.” Its primary focus is on education and workforce development.
Grants for Workforce Development, Immigrants and Refugees
State Street’s workforce development grantmaking prioritizes programs that “reducing gaps in educational achievement and employability due to race, ethnicity and socioeconomic status,” including for immigrants and refugees. The foundation almost exclusively operates to provide funding for training programs that make “combatting racism and inequality […] a core tenet of [its] grantmaking in education and workforce development.” Past grantees include Mujeres Unidas Avanzando, Action for Boston Community Development, The Boston Private Industry Council.
Grants for Education
The State Street Foundation’s grants for education almost exclusively provide funding for Early College programs, where “high school students take strategically sequenced, real college classes with strong career orientations during their regular high school day, at no cost to themselves or their families.” The main beneficiaries of State Street grants tend to be BIPOC low-income students, and the program focuses on “five high schools in Boston and Quincy where [they] have a business presence.” Previous education grantees include uAspire, Year Up, National College Advising Corps, Boston Educational Development Foundation, Boston Debate League, and EdVestors.
Important Grant Details:
Grants generally range from $10,000 to $100,000. The State Street Foundation has thirty-nine community support committees in twenty-six different countries. Boston-based non-profits get a lot of attention because the corporation is based here, but the foundation also spreads grants around to the other communities where State Street Corporation operates. This includes the states of California, Illinois, Georgia, Missouri, New Jersey, New York, and Pennsylvania, as well as in Europe and Asia.
Organizations have a two-step application process to follow, which includes a preliminary grant application and a full grant application. To apply, log on to the foundation's online portal. Direct general questions to the staff via online form. State Street accepts Preliminary Grant Applications (PGA) year-round. Successful PGA applicants will have four additional weeks to submit a Secondary Grant Application.
PEOPLE:
Search for staff contact info and bios in PeopleFinder (paid subscribers only).
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