The Prudential Foundation has announced six grants totaling $4.2 million to nonprofits working to improve the lives of people in the United States, Mexico, and Brazil. In addition, the “social investments” unit of the insurance giant’s Community Resources Department has announced that it awarded $33.8 million in new investments to support education, youth, community development, and nonprofit capacity building.
Grants announced by the foundation include a three-year, $1 million award to the Community Foundation of New Jersey to support Newark’s Strong Healthy Communities Initiative; a two-year, $500,000 award to the Sesame Workshop’s Children’s Resiliency Initiative, an educational outreach program that aims to build resiliency skills in young children; a three-year, $450,000 award to the Institute for Ethical Leadership at Rutgers Business School to launch the Prudential Foundation Nonprofit Leadership Fellows Program; and a three-year $1.325 million award to YouthBuild International to help the organization establish affiliates in Brazil and expand its efforts in Mexico to at least thirty cities.
Social investments announced by the company include nearly $4.5 million to CitiLog, a company that manufactures and sells wood products using urban waste wood; $7.5 million to the Canyon-Agassi Charter School Faculties Fund, which invests in top-performing urban charter schools by financing new facilities and renovating existing properties; and $5 million in limited partnership interests in Ironwood Mezzanine Fund III, which invests in enterprises owned or managed by traditionally underserved populations.
“The strategy of the Prudential Foundation grantmaking reflects our commitment to creating sustainable communities and improving the lives of people who live in those neighborhoods both domestically and internationally,” said Prudential Foundation president Gabriella Morris. “Our grants support programs that strengthen education, economic development, the arts and civic infrastructure, and civic engagement.”
“Prudential Awards $4.2 Million in Grants and $33.8 Million in Social Investments for Education, Youth, and Community Development and Nonprofit Capacity Building.” Prudential Foundation Press Release 2/10/11.
Primary Subject: Philanthropy and Voluntarism
Secondary Subject(s): Community Improvement/Development
Location(s): Brazil, Mexico, National, New Jersey