PITTSBURGH, December 20, 2012 BNY Mellon, the global leader in investment management and investment services, and its employees donated more than $7 million and 10,000 hours of volunteer service to Pittsburgh-area nonprofits during 2012.
With BNY Mellon's support, its community partners continued to drive positive change in 2012 and helped their populations stay connected to critical programs and services – from helping homeless families secure safe housing and youth transitioning out of foster care, to providing utility assistance and employment training to low-income individuals.
BNY Mellon's philanthropic focus on Powering Potential helps people in need by concentrating on basic needs and workforce development opportunities. Through the program, BNY Mellon supports programs and initiatives that make local communities better places to live and work, particularly by targeting organizations that provide food, clothing, energy and housing assistance to those who need immediate help, and improve access to employment through job training and skills development.
"We are committed to strengthening the communities in which our employees live and work, with collaborative, effective charitable programs that deliver financial assistance and harness our employee talent to make a difference for those in need," said James P. McDonald, BNY Mellon's director of global philanthropy.
For 2012, grants focused on workforce development and basic needs included the following:
- KidsVoice – $175,000 in support of the "Passport to Independence" Program for youth transitioning out of foster care.
- Sisters Place, Inc. – $50,000 in support of transitional and permanent housing programs for 32 homeless single parents and their children.
- Dollar Energy Fund, Inc. – $150,000 in support of the "Hardship" program, which provides direct utility assistance grants to low-income families in southwestern Pennsylvania.
- Travelers Aid Society – $100,000 in support of the "Employment and Transportation Assistance" program, which provides employment, training and retention programs for more than 830 low-income individuals.
In addition to these local contributions, BNY Mellon and its employees around the globe donated more than $33 million and volunteered more than 50,000 hours in 2012.
In 2012, the company continued its support of its Powering Potential Pathways Program, a $6 million, five-year global workforce development initiative to assist vulnerable youth making the transition into adulthood. In addition to providing grants to its Pathways partners and holding local workshops on financial literacy and resume writing and interviewing, the company hosted a thought leadership summit to explore the challenges of youth aging out of foster care and determine best practices for enabling educational advancement and employment opportunities. For more information about the Pathways Program, visit www.bnymellon.com/pathways.
BNY Mellon also remained committed to quickly helping those in need. In response to Hurricane Sandy, it donated $1 million to organizations supporting the relief efforts, which included the American Red Cross, a supported charity in the company's Disaster Relief Matched Giving program. In addition, BNY Mellon launched several programs to help victims of the storm. Its Neighbor-to-Neighbor volunteer program supports employees who are helping their neighbors with storm damage and matches employees' time for the work they are doing with contributions to the American Red Cross. To help its employees who have been most severely impacted by this disaster, BNY Mellon also established a fund that covers their expenses that are not covered by FEMA or insurance. In addition, the company created a separate program to provide immediate cash grants to employees in instances of immediate and extreme hardship.
Helping veterans and their families also remained a priority for BNY Mellon and its employees in 2012. "Boots to Business," the company's commitment to support returning military personnel, is a multifaceted initiative that connects returning military to job opportunities and supports military advocacy and community agencies. In addition to awarding grants to support employment and training programs for returning servicemen and women, BNY Mellon hosted several job fairs for veterans and its employees volunteered in a wide range of activities to support veterans, active duty military members and their families.
Learn more about Powering Potential or the company's world-wide commitment to social responsibility at www.bnymellon.com/csr.
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 $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 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.