WILMINGTON, DE — WSFS Bank’s WSFS CARES Foundation recently announced that they have awarded grants to five organizations. The approvals, given during the first quarter, are a part of the Foundation’s continuing philanthropic endeavors.
The first grantee, Delaware Prosperity Partnership, will receive a $150,000 grant spread over three years. This nonprofit state economic development agency leads Delaware’s economic growth attempts by attracting, developing, and retaining businesses. It also focuses on establishing a stronger entrepreneurial and innovation ecosystem. By supporting employers in identifying, recruiting, and developing talent within Delaware, the WSFS grant will help to bolster Delaware’s economy from 2024 to 2026.
Another recipient is the Distance Learning Center, which is set to receive a $55,000 grant. This Philadelphia-based nonprofit aims to increase the number of underrepresented minorities in the science, technology, engineering, math, and medicine (STEMM) fields. The non-profit’s STEMMPREP Project will provide 10 scholarships for disadvantaged and underserved minority junior high school trainees, which is backed by the WSFS grant.
A grant of $78,000 will be disbursed over three years to the FinServ Foundation, a nationwide nonprofit concentrated on fostering a more inclusive, diverse, and vibrant financial services profession. By working directly with universities and colleges, this foundation supports the upcoming generation of skilled professionals. The WSFS grant will facilitate students from Delaware State University and Temple University to join FinServ for a two-year program. This program includes six months of mentorship, 24 hours of coaching and education, and access to a financial services industry conference.
New Jersey Community Capital, a nonprofit community development financial institution (CDFI), is also set to receive a $25,000 grant. This foundation presents an innovative set of financial products, programs, and services designed to promote equity and opportunity within the communities it serves. The WSFS grant will empower the organization to issue loan capital and strategic investments to borrowers. This includes acquisition, construction, and permanent financing of community development projects, benefiting low-to-moderate-income families and communities directly.
Lastly, the Wilmington Neighborhood Conservancy Land Bank will be awarded a $100,000 grant over the next three years. This organization aims to reactivate vacant, dilapidated, abandoned, and delinquent properties while revitalizing neighborhoods and stimulating economic development. The WSFS grant will kickstart the rehabilitation of 10 additional units for homeownership and the acquisition of 18 strategic privately-owned properties.
The WSFS CARES Foundation‘s mission is to support nonprofits dedicated to improving communities and fostering a spirit of inclusion and diversity. Patrick J. Ward, Executive Vice President, Pennsylvania Market President of WSFS Bank, and Chairman of the WSFS CARES Foundation, expressed pride in supporting these organizations, which align with their focus on investing in and strengthening communities through numerous initiatives.
Overall, the Foundation’s philanthropic efforts demonstrate the power of community investment and the role it plays in fostering inclusion, diversity, and overall development within the society. Their substantial monetary assistance to these organizations signals not just a significant boost for these groups but also highlights their critical role in driving social and economic development. It is evidence that when businesses thrive, so too can the communities they serve.
As WSFS Bank continues to invest in these areas, we can look forward to witnessing the positive impact of these grants. From boosting economic development to empowering the next generation of STEMM professionals, WSFS Bank’s philanthropic endeavors will indeed pave the way for a more inclusive and prosperous society.
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