NEW YORK, December 22, 2011 — BNY Mellon, the global leader in investment management and investment services, announced it awarded more than $7.2 million in grants to New York-area nonprofits during 2011 through its philanthropic giving program.
BNY Mellon invests in initiatives that make local communities better places to live and work. Through its Powering Potential philanthropic focus, BNY Mellon provided much needed support to organizations that educate, train, shelter, feed and enrich the lives of the neediest New Yorkers. Recent Powering Potential funding in the New York region includes:
- Education – More than $800,000 to support programs that improve high school graduation rates of students; mentoring programs that provide meaningful relationships to at-risk in-school youth; and Life Coaching for youth aging out of foster care to ensure their educational success.
- Food and Shelter – More than $650,000 directed towards programs that provide clothing for youth, temporary and permanent housing for homeless individuals and families, nutritional education, food stamp access, and the distribution of more than 74 million pounds of food.
- Workforce Training – More than $500,000 to support programs that offer skills training for multiple entry points into industries including culinary arts, information technology, healthcare, janitorial services and office positions; resume building, job readiness training and professional certification for individuals entering workforce for the first time; and entrepreneurship training for returning servicemen and women.
- Individuals with Special Needs – More than $200,000 to support targeted programs that provide individuals with college prep training sessions; and workforce training programs designed for those with physical needs to secure gainful employment.
BNY Mellon also provided more than $1 million to arts and cultural organizations that enrich the lives of students and audiences with full and varied performances and education accessible to all.
In addition to these local contributions, the company's employees around the globe in 2011 have invested 55,000 hours of volunteer service, generating in excess of $14 million in support of the causes they care about most. Volunteer service across the company has skyrocketed more than 330% since the inception of the program in 2008. In the New York region alone, employees invested more than 8,000 hours of volunteer service in 2011.
"By combining our financial resources with the volunteer power of our employees, we're able to make a meaningful and measurable difference in the lives of areas residents with the most critical challenges and needs," said Daisey Holmes, head of Philanthropy and Volunteer Programs in the New York region.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.