New Initiative Celebrates the M&T
Charitable Foundation's 30th Anniversary
BUFFALO,
N.Y., March 27, 2024 /PRNewswire/ -- The M&T
Charitable Foundation, the philanthropic arm of M&T Bank (NYSE:
MTB), today announced $900,000 in
grants to commemorate its 30th anniversary. Through the
30 & 30 Giving Initiative, 30 organizations throughout the
company's footprint received $30,000
to support their efforts to build and develop affordable housing
and to fight homelessness in underserved, low- to moderate-income
communities.
Founded in 1993, the M&T Charitable Foundation works in
partnership with nonprofit organizations that focus on improving
the quality of life for the bank's customers, employees, and
neighbors. Awarding nearly $40
million in grants each year, the Foundation has given more
than $534 million to thousands of
nonprofit organizations throughout its 30-year existence.
"Since its beginning, the foundation's reach and impact have
been expansive, profound, and lasting," said Dominique Goss, Executive Director of the
M&T Charitable Foundation. "The 30 & 30 Giving Initiative
is a sign of what's to come for the next 30 years and reflects our
commitment to tackling critical issues like affordable housing and
supporting efforts to provide families the ability to live and
thrive in the communities we serve."
Supporting the development of affordable housing is an important
part of the bank's $43 billion
Community Growth Plan which includes $20
billion for community development initiatives and affordable
housing.
More than 90 different organizations were nominated by teams in
each of the company's regions. To finalize the 30 recipient
organizations and distribute the funding, the Foundation
collaborated with OutcomesX, a first-of-its-kind social outcomes
market that leverages Impact Genome Registry's (IGR) impact
standard to bring transparency and equity to the social sector.
"OutcomesX recognizes that funding is a means to an end, not the
end itself," said Phyllis Kurlander
Costanza, President and Co-Founder. "Our commitment to
leveling the playing field for all social
impact organizations and rewarding non-profits based
on the quality of their impact, rather than their
fundraising connections made supporting the M&T Charitable
Foundation on the 30 & 30 Giving Initiative a natural
partnership."
To execute the initiative, nominated organizations were asked to
register their program with IGR to ensure it met the Foundation's
criteria. Using the standardized information, M&T employees in
each region voted for their charity of choice, assisting in the
selection of the 30 grant-recipient organizations.
The finalist organizations were then required to verify their
impact with the IGR. This process enabled the Foundation to
understand the actual social impact that each organization and
grant had on the communities they serve. Each $30,000 grant is unrestricted so that resources
can be allocated where they are needed most, enabling the
organizations to address evolving community needs and challenges.
Click here for a full list of grant recipients and their
locations.
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.
Equal Housing Lender. © 2024 M&T Bank. Member FDIC.
All rights reserved.
Media Contacts:
New England
Christopher
Loh
cloh@mtb.com
Metro New York and
Long Island
David Samberg
dsamberg@mtb.com
Upstate and Western New
York
Thea Pecht
tpecht@mtb.com
National Media and Mid-Atlantic
Frank Lentini
flentini@mtb.com
About OutcomesX
OutcomesX is a social outcomes market
whose mission is to transform social impact into a tradable good
that impact investors, corporations, and philanthropy can purchase
from vetted nonprofits and social enterprises. OutcomesX creates
the infrastructure to standardize, price, trade, and report on
social impact where outcome buyers benefit from price discovery and
verified data to inform social spend, and impact producers get
access to liquidity and reduced fundraising and reporting burden.
Above all, OutcomesX brings efficiency and equity to the business
of social impact, allowing any organization, large, small, or
community-led, access to capital based on their results.
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SOURCE M&T Bank Corporation