Under Terms of Partnership, Envestnet to Provide Mentoring Support & Capital, Including $250,000 Donation to be Delivered Over Five Years
CHICAGO, Nov. 19, 2020 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) announced today that its Charitable Giving Committee (Envestnet Cares) has chosen Philadelphia-based nonprofit Project HOME as its Signature Impact Partner.
In selecting Project HOME (https://www.projecthome.org) for this long-term initiative, Envestnet considered criteria related to its philanthropic mission to give back to its communities and help create more meaningful and lasting impact through targeted efforts aimed at supporting education and families in need. Under the terms of the partnership, Envestnet will provide both volunteer and financial support, including a pledge of $250,000—or $50,000 distributed annually over the next five years—as well as a mentoring relationship with Project HOME's Education and Workforce Development team.
"Envestnet believes in serving as a force for social good in our communities," said Bill Crager, Co-Founder and CEO of Envestnet. "Project HOME reflects Envestnet's core values, specifically its goal to make financial wellness a reality for more people. And Project HOME's commitment to helping those less fortunate in North Philadelphia is especially meaningful for the employees in our Berwyn office. In addition to the financial investment, we see tremendous opportunity for furthering Project HOME's efforts through volunteering, and leveraging our employees' digital and financial expertise."
The mission of Project HOME is to empower adults, children, and families to break the cycle of homelessness and poverty, to alleviate the underlying causes of poverty, and to enable such persons to attain their fullest potential as individuals and as members of the broader society. Its Education and Workforce Development initiative includes the following educational programs:
K-12 Afterschool Programs, which integrate technology with literacy, art, and science, providing opportunities for students in North Philadelphia to explore new interests, cultivate talents, and prepare for college or careers.
The Adult Education and Employment Program, which includes GED classes, professional certifications, and job fairs.
The Social Enterprise Program, which empowers residents to build job skills at small businesses, providing low-barrier employment and supplemental income.
"As a result of the pandemic, the need for our work has intensified," said Sister Mary Scullion, Co-Founder and Executive Director of Project HOME. "In light of this, we are certain that our partnership with Envestnet will have a major impact for so many in our community who are in need. Project HOME has always believed that the best way to fight poverty and put an end to homelessness is through providing access to affordable housing, employment, healthcare, and education. We look forward to working with Envestnet to do just that in the years to come."
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 103,000 advisors across more than 5,100 companies—including 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies—leverage the Envestnet platform to grow their businesses and client relationships.
About Project HOME
Since 1989, Project HOME has helped thousands of people break the cycle of homelessness and poverty by providing a continuum of care that includes street outreach, supportive housing and comprehensive services that focus on health care, education and employment through both adult and youth education and enrichment programs at the Honickman Learning Center and Comcast Technology Labs and community-based health care services at the Stephen Klein Wellness Center. Project HOME and its partners have pledged to end chronic street homelessness in Philadelphia.
JConnelly for Envestnet
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SOURCE Envestnet, Inc.