New Nonprofit Philadelphia Financial Scholars Will Expand Access to Financial Literacy and Entrepreneurship Education
PHILADELPHIA, Feb. 22, 2021 /PRNewswire/ — Today marks the start of Philadelphia Financial Scholars, a new 501(c)(3) nonprofit that aims to support Philadelphia superior college college students and their people choose on systemic problems and acquire wealth-developing resources by way of entry to economic literacy and entrepreneurship education and learning.
Philadelphia Monetary Scholars originated when the FS Foundation, the philanthropic arm of Philadelphia-primarily based asset administration firm FS Investments, partnered with the College of Pennsylvania’s Netter Center for Community Partnerships to create a financial literacy plan for high school learners. Because that time, the software has expanded considerably and now incorporates in-course fiscal literacy schooling, immediately after-school entrepreneurship instruction, a summer business accelerator method at Wharton, and a nights-and-weekends curriculum for families, caregivers and instructors. The method is currently operating in 15 colleges, both equally public and constitution, and has achieved additional than 1,500 learners.
Constructing on this established design, other organizations in the Philadelphia financial solutions local community as very well as a number of legislation companies, accounting firms and local community businesses have come collectively to type a new standalone non-revenue, develop the plan, and access extra families and pupils with these vital fiscal literacy and entrepreneurship programs.
Philadelphia Economic Scholars’ founding partners incorporate Board Chair Mike Gerber of FS Investments, Vice Chair Brian Gildea of Hamilton Lane, Treasurer Brendan Clark of Clark Money Management Team, Secretary Marc Bryant of FS Investments, and board associates Noreen Beaman of Brinker Cash, Dr. Toni Damon of Murrell Dobbins Profession and Technical Schooling Higher College, Dr. Kelly Davenport of the Freire Colleges Community, Josh Deringer of Faegre Drinker Biddle & Reath, Mimi Drake of Allow Money Advisors, Mia Fioravanti of FS Investments, Keith Leaphart of Philanthropi and the Lenfest Basis, Ryan Oswald of EY, Sulaiman Rahman of DiverseForce, Bill Sasso of Stradley Ronan, Jeff Wicklund of The Organization Center, and Rob Zion of TIFF Expenditure Management. Other supporting firms incorporate Dechert LLP, Macquarie Team and Spouting Rock.
“We are so delighted to now have these a great selection of associates doing work jointly to tackle Philadelphia’s most important societal situation – systemic wealth inequality,” said Mike Gerber, Chair of the Philadelphia Fiscal Scholars board and a long-serving executive at FS Investments. “The Philadelphia financial companies neighborhood has often been generous, but this is the very first time we have all coordinated on this kind of an ambitious mission.”
Brian Gildea, Vice Chair of the Philadelphia Financial Scholars board and Head of Investments at Hamilton Lane, commented: “Economical instruction is important to bridging the prosperity gap, and we feel this plan will go a extensive way towards switching the financial trajectory for a lot of Philadelphia people.”
“Tragically, Philadelphia is the poorest huge town in The us and we’ve occur jointly to do one thing about that,” explained Brendan Clark, Treasurer of the Philadelphia Monetary Scholars board and CEO of Clark Capital Administration Group.
The new nonprofit will also increase upon historic partnerships with the City of Philadelphia. The system now operates in all taking part higher schools of the Mayor’s Group Universities Initiative.
“We have to have additional public, personal and philanthropic partnerships like this to assistance deal with the inequality the pandemic has further uncovered and exacerbated,” claimed Mayor Jim Kenney. “I applaud this leadership team for coming together to expand an currently impactful program.”
“Philadelphia Financial Students offers college students ground breaking and significant occupation planning,” said Dr. Toni Damon, principal at Murrell Dobbins Vocation and Technological Education Higher University, one of the Mayor’s Community Universities that has partnered with Students to coach pupils in developing their personal small business plans. Damon is also a board member of Philadelphia Economical Students. “We are incredibly fortunate to have the software at Dobbins and I am very pleased to help Scholars get to more schools and college students as a member of the board.”
Students engaged in immediately after-college entrepreneurship coaching also have the option to compete in an once-a-year Money Scholars Company Pitch Competitiveness. In the course of this summer’s opposition, which was held virtually, a number of teams presented remedies to issues introduced by COVID-19.
“My workforce is called MasKonnect,” claimed Mabinty, a 12th-grade college student at Freire Charter College. “Our small business presents protecting masks to individuals dwelling in nursing households.” Mabinty is also utilizing Students mentor support to navigate the college or university application course of action. “My mentor assisted me with my own essay. I have now been recognized to five colleges.”
About Philadelphia Economic Scholars:
Philadelphia Monetary Students aims to enable learners and their households make better wealth and accomplish fiscal empowerment as a result of entry to economical literacy and entrepreneurship training. Check out philadelphia.financialscholars.org to study extra.
About the Netter Heart for Local community Partnerships:
Started in 1992, the Barbara and Edward Netter Center for Neighborhood Partnerships is the College of Pennsylvania’s main car or truck for advancing civic and neighborhood engagement at Penn. It delivers collectively the means and property of the two the University and the wider local community to help fix common issues these types of as poverty, health and fitness inequities, environmental sustainability, and insufficient, unequal schooling as they are manifested in the University’s local geographic area of West Philadelphia and Philadelphia at massive. The Netter Heart develops and allows employ democratic, mutually transformative, location-primarily based partnerships between Penn and West Philadelphia that advance research, teaching, finding out, follow, and assistance and make improvements to the high-quality of existence on campus and in the neighborhood. The Netter Centre will work with and serves as a product for other greater training institutions across the United States and all-around the entire world. 
Get in touch with Data:
Melanie Hemmert
media@fsinvestments.com
215-309-6843
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