Funding is Part of M&T's $25 Million Amplify Fund Commitment to Address
Racial Equity and Social Justice Issues
BUFFALO,
N.Y., Feb. 13, 2024 /PRNewswire/ -- The M&T
Charitable Foundation, the philanthropic arm of M&T Bank (NYSE:
MTB), today announced $8.2 million in
donations to 68 nonprofit organizations across New England and
Long Island and Rockland County New York. The announcement is
the second round of giving as part of the company's Amplify Fund
grant, a commitment by M&T Bank to work with groups dedicated
to addressing social issues through a racial equity and social
justice lens in low- and moderate- income communities and
underrepresented populations.
First announced in May
2022, the Amplify Fund is a $25
million philanthropic investment as part of the merger
between People's United Bank and M&T Bank. Powered by the
M&T Charitable Foundation, the Amplify Fund is a one-time
supplemental charitable giving program to provide further support
in the legacy People's United communities. The first round of
funding totaled more than $11.8
million to 105 nonprofit organizations and focused on equity
and environmental initiatives, mission-driven and capacity-building
work, community and tenant organizing, and financial empowerment
and education for individuals and small businesses.
Grantees in this second phase of funding include organizations
that provide a host of direct services and opportunities for the
individuals and families they serve, including increasing access to
affordable housing, childcare, healthcare, job training, and more.
A full list of grantees can be found here.
"At M&T, addressing the institutionalized and systemic
issues preventing disadvantaged communities from accessing
opportunities and achieving long-term success is key to our mission
as a community-focused bank," said Dominique Goss, Executive Director of the
M&T Charitable Foundation. "We are proud to provide the Amplify
Fund as a difference-making resource in the communities we serve
and look forward to continuing our work to increase racial and
economic equity throughout our footprint."
Phase II of the Amplify Fund focused on providing funding, for
up to three years, to nonprofit collaboratives working together
toward a common goal for solving a specific social issue, to help
advance equity in the following key areas of focus:
- Family Stability: Affordable housing, food
security, and access to quality and affordable childcare.
- Income & Wealth Equity: Employment, small business
development, homeownership, and financial empowerment
initiatives.
- Workforce Development: Education and training
opportunities focused on upskilling and career pathways in
high-growth sectors leading to economic prosperity.
- Health Equity: Access to quality and affordable
healthcare, with a priority on youth mental health and women and
infant health.
The Amplify Fund is designed to drive sustainable impact that is
equitable, accessible, and responsive to local needs. Regional
representatives of the bank will continue to meet with local
leaders to help inform the strategic direction for the Fund's third
and final round.
For more information on the Amplify Fund, including the full
list of grant recipients in New England and Metro New York, please
visit the Amplify Fund website.
STATEMENTS FROM GRANT
RECIPIENTS
Family Centers, Inc. – Greenwich,
Conn.
Family Centers works with 25 organizations to
offer a holistic network of 26 health, education, and human service
programs to address the challenges that more than 24,000 residents
of lower Fairfield County face
each year. Programming includes preschool and early education
services, mental health, bereavement and family counseling, primary
medical and dental services, vocational and self-sufficiency
support, English language, and basic literacy education, and much
more.
"We are grateful for this grant through the
M&T Charitable Foundation, as it allows us to address an
immediate need facing so many children and families in Stamford," said Leslie
Sexer, Chief Program Officer for Family Centers. "Through
our collaboration with the Stamford Youth Mental Health Alliance
(YMHA), our Screening Stamford's Youth initiative will allow us to
identify mental health issues and intervene before they reach a
crisis point. Leveraging Family Centers' holistic network of
health, education, and human service programs – along with the
relationships of our community partners – we will also connect
families with the services they need to thrive."
Stamford Youth Mental Health Alliance – Stamford, Conn.
The Stamford Youth
Mental Health Alliance (YMHA) is a coordinated initiative,
including the Stamford Public
Schools, multiple service providers and the broader population, to
spur a community-based awareness and response to the mental health
crisis among youth with an emphasis on universal promotion of
wellness, prevention, early intervention, and targeted
services/care coordination dovetailed into the evolving mental
health infrastructure.
"The YMHA is committed to addressing behavioral
health challenges that complicate healthy youth development through
prevention and early intervention," said Vin Tufo, YMHA co-facilitator. "Our network of
30 youth-serving organizations is committed to supporting the
Screening Stamford's Youth initiative, helping to connect children
and their families with needed resources and opportunities."
Rhino Foods Foundation – Burlington, VT
The mission of the Rhino
Foods Foundation (RFF) is to spread innovative workplace practices
that champion employee financial stability and make good business
sense. The Rhino Foods Foundation was formed to advance and spread
employee-centered workplace practices, inspire business leaders to
think more deeply about their employee engagement strategies, and
empower professionals across the country with well-developed
programs and tools.
"We are so honored to receive this
transformational support from the M&T Charitable Foundation.
We've had tremendous success spreading the Income Advance program,
which helps employees gain access to emergency loans and improve
their credit, to more than 90 businesses in Vermont," said Ted
Castle, RFF's Board President. "The Amplify grant will allow
us to grow our team and our capacity to help businesses adopt the
Income Advance program throughout the northeast."
About M&T Charitable Foundation
The M&T Charitable Foundation, the philanthropic arm of
M&T Bank, is a 501(c)(3) not-for-profit charitable organization
founded in 1993 and funded by M&T Bank. The M&T Charitable
Foundation awards nearly $40 million in grants per year to
thousands of nonprofit organizations focused on improving the
quality of life in the areas the bank serves.
About M&T Bank
M&T Bank Corporation is a financial holding company
headquartered in Buffalo, New
York. M&T's principal banking subsidiary, M&T Bank,
provides banking products and services in 12 states across the
eastern U.S. from Maine to
Virginia and Washington, D.C. Trust-related services are
provided in select markets in the U.S. and abroad by M&T's
Wilmington Trust-affiliated companies and by M&T Bank. For more
information on M&T Bank, visit www.mtb.com.
Media Contacts:
New
England
Christopher Loh
(617) 581-2676
cloh@mtb.com
New York Metro
(NYC, Long Island and New Jersey):
David Samberg
(201) 368-4515
dsamberg@mtb.com
National Media:
Frank
Lentini
(929) 651-0447
flentini@mtb.com
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M&T Bank. Member FDIC. All rights reserved.
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SOURCE M&T Bank