Nike teams up with kids' financial literacy platform to help address racial inequality
As part of its $ 140 million investment to fight racial inequality, Nike (NKE) is partnering with youth-focused finance platform Goalsetter to help young Americans with financial literacy. The Swoosh brand will provide $ 2.75 million local grants in seven cities including Portland and New York City. Nike will award Goalsetter - the financial literacy platform founded by Shany Tank competitor Tanya Van Court - $ 1 million.
The sportswear giant's investment will help Goalsetter save 10,000 children. Nike hopes this will go a long way in helping children find a path to financial wellbeing.
SHARK TANK - "1015" - First in the tank are entrepreneurs from Arcadia and Folsom, California who have a solution to defend themselves against annoying telemarketers and fraudsters. Oakland, Calif. Entrepreneurs showcase their easy-to-use 3D printer that kids can use to design and print their own toys, while a New York, New York entrepreneur sets up her online savings and gifts platform to help kids save facilitate. Last into the Tank is a Labelle, Missouri, entrepreneur who trusts the Sharks with their ethical and customizable meat box subscription delivery service at the Shark Tank on SUNDAY MARCH 10 (10: 01-11: 00 PM EDT) on The makes Walt Disney Television through the Getty Images Television Network. (Eric McCandless / Walt Disney Television via Getty Images) TANYA VAN COURT (ZIELSETTER)
"Nike is driving a historic moment by helping to change the way America raises an entire generation of children - using culturally relevant, game-based content to excite and motivate them, and get them on a path to lead to financial freedom, "said Van Court.
"During Black History Month we are reminded of the daily work that is required beyond commemorating this month. To combat systemic racism and create the future we want to see, we urgently need action and sustainable partnership and engagement “Said Jorge Casimiro, Chief Public Policy and Social Impact Officer at Nike.
"That's why Nike, along with Converse, the Jordan brand and Michael Jordan, is investing in national and local change to drive economic empowerment, education and social justice for black communities in cities across the United States," he said.
Nike Black Community Commitment - Nike
Each of the seven cities will receive grants of $ 250,000 annually for four years. Nike has already invested heavily in its hometown of Portland. This year alone, Nike's investment in the city's black community will be $ 1.25 million.
The full list of Nike grants in Portland and New York City is distributed as follows.
America on Tech: ($ 50,000) supports virtual tech programs for students from East New York and Brownsville in the summer and fall of 2021.
Brooklyn Community Services: ($ 75,000) will help improve access to economic security for youth development customers by enhancing their workforce development and enhancing their certification programs.
East Harlem Tutorial Program: ($ 75,000) supports the development of a year-long career immersion program for selected students, allowing students to choose between internships, job shadowing, or an outside internship.
Women's Housing and Business Development Society: ($ 50,000) supports a year-long program for 30-35 Bronx students to find fairer paths to post-secondary education and career opportunities.
Airway Science for Kids: ($ 75,000) supports STEM education and aerospace industry awareness and career development for black youth.
Built Oregon: ($ 250,000) Creates Broad and Inclusive Business Opportunities for Black Business Owners.
Constructing Hope: ($ 250,000) is focused on rebuilding the lives of people in Portland's Black Community by promoting self-sufficiency through skills, education and placement in the construction industry.
KairosPDX: ($ 250,000) works to close the productive racial achievements and opportunity gaps for black children ages 0-10.
Micro Enterprise Services of Oregon: ($ 50,000) provides business opportunities for black business owners and entrepreneurs through empowerment, education, and support services.
POIC + Rosemary Anderson High School: ($ 250,000) supports the success of youth and adults at risk by supporting education, mentoring, family work, professional training and placement services to continue the work of previous Nike investments.
The Rosewood Initiative: ($ 75,000) helps build safe, healthy, and vibrant neighborhoods through a wide range of programs and services that focus on economic development and supportive social services.
Word Is Bond: ($ 50,000) works through leadership development, critical dialogue, and engagement in a truth and reconciliation process between young black men and law enforcement agencies.
Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.
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