KeyBank Foundation Invests $2.1 Million to Help United Way of Greater Cleveland Fight Systemic Poverty
The KeyBank Foundation announced today a philanthropic investment of $2.1 million in United Way of Greater Cleveland. This investment will take place over three years and is part of KeyBank's $40 billion National Community Benefits Plan, which is symbolic of the bank's longstanding commitment to diversity, equity and inclusion. It will support United Way's Community Hub for Basic Needs.
The Hub is focused on analyzing our region's needs to identify ambitious and specific poverty reduction goals. Working with community partners and leaders, United Way of Greater Cleveland is designing and implementing anti-poverty solutions that make a meaningful difference.
"United Way of Greater Cleveland is fighting poverty by developing new solutions focused on creating a future where everyone has an equal opportunity to succeed and thrive," said Chris Gorman, KeyCorp Chairman and CEO. "We support their efforts to bring meaningful change to our community and we are proud to stand with them as they reimagine the way we serve those in need."
KeyBank's $2.1 million gift is the single largest commitment to the Community Hub under United Way's new model and will be allocated to the organization's 2-1-1, Center for Excellence in Social Services and Economic Mobility programs. Since 2000, KeyBank and KeyBank Foundation have provided nearly $23 million to fund United Way of Greater Cleveland's community programs and work.
"United Way serves as a lifeline for families and individuals living across Greater Cleveland and in need of basic resources to survive, like food and shelter, and this work is only made possible through the generosity of dedicated partners like KeyBank which has supported vital programs like 2-1-1 for decades," said Augie Napoli, President and CEO of United Way of Greater Cleveland. "KeyBank's generous gift to United Way's Community Hub for Basic Needs further invests in 2-1-1, as well as other transformational philanthropy programs designed to improve the lives of those living in the deepest poverty across our city."
Programs Supported by KeyBank's Investment
KeyBank's investment will focus on three primary areas of work underway at United Way's Community Hub for Basic Needs, including 2-1-1, Center for Excellence in Social Services and Economic Mobility programs.
2-1-1: For decades, KeyBank has invested in United Way's 2-1-1. As an anchor within the Greater Cleveland community, 2-1-1 connects individuals and families with the resources they need to survive, including food, shelter and utility assistance, as well as thrive, such as employment services, mental health support and other critical resources.
Center for Excellence in Social Services: United Way's Center for Excellence in Social Services builds upon the organizational capacity of Greater Cleveland's nonprofits by equipping community leaders with the tools they need to effectively tackle the region's poverty crisis from every angle. KeyBank's gift supports the development of a curriculum for corporate and nonprofit partners focused on learning Racial Diversity, Equity, and Inclusion skills. KeyBank's investment will further support the development and opening of United Way's Poverty Lab, a physical location where visitors can virtually explore what it means to live in poverty through data visualization and test the outcomes of various anti-poverty initiatives.
Economic Mobility Programs: United Way's Economic Mobility programs empower communities to provide for their own basic needs. United Way's existing essential needs programs predominantly serve Black and brown communities who make up 76% of clients. Through KeyBank's donation, people living within these communities will have access to skill building, workforce placements, transportation support, and financial literacy programs and resources designed to increase their workforce readiness and opportunities for employment.
On Friday, Sept. 10, United Way will host its Annual Community Meeting virtually at 4 p.m. Registration is complimentary and open to all at www.unitedwaycleveland.org.
About KeyBank
KeyBank's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $181.1 billion at June 30, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
About United Way of Greater Cleveland
Founded in 1913, United Way of Greater Cleveland is a local, independent nonprofit organization dedicated to fighting poverty across the Greater Cleveland area. The region's largest private-sector investor of health and human services, United Way of Greater Cleveland invests in efforts that address poverty using a two-pronged approach. The first prong focuses on the daily issues affecting those living in poverty, the Community Hub for Basic Needs. The second drives research and innovation through the Impact Institute, a think tank with an action plan, focused on identifying long-term solutions to break the cycle of poverty. For more information, visit www.unitedwaycleveland.org.
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