April 24 2013
A $150,000 Donation from Waypoint to Operation HOPE Helps Bring Financial Dignity Home
Oakland – April 25, 2013 – Today, financial dignity nonprofit Operation HOPE (HOPE) announced a $150,000 commitment from Waypoint Homes, a pioneer in the single-family rental industry, to support youth financial literacy in key markets where both organizations share a footprint, including California, Chicago and Atlanta.
“We are pleased to join with Waypoint to improve the lives of American families,” said Tyrone Cosey, president of the Oakland Market for HOPE. “This $150,000 commitment will help us make a positive difference in the underserved communities we serve, which is the foundation of our business.”
Through this strategic partnership, Banking on Our Future and HOPE Business in a Box programs will be offered to youth in selected neighborhoods in Atlanta, Chicago, Northern California and Southern California. These financial literacy and youth empowerment tools will help students achieve financial independence and realize their economic potential.
“Waypoint believes that a lack of financial literacy at epidemic proportions was a major contributing factor to the foreclosure crisis,” said Waypoint Homes President and CEO Gary Beasley. “Our commitment to improving financial literacy extends to all members of the family, which is why we’ve committed to sponsoring economic education for youth. This program is a way for us to expand the positive impact we are having on hard hit communities by helping to ensure that students in these communities are equipped to make wise financial decisions.”
Waypoint Homes began operations in 2009 and has since acquired more than 4,000 homes in five states, working with local realtors and contractors in the regions where it operates to purchase, renovate, and rent single-family homes. Instead of letting foreclosed homes sit empty, bringing down property prices and becoming hot spots for blight and crime, Waypoint purchases them, renovates them and then rents them to residents looking for a stable home. Included in that formula, the new residents have an opportunity to take financial education training. This is where HOPE looks to play a significant role.
Banking on Our Future has been the recipient of the U.S. Treasury Department's John Sherman Award for Financial Literacy Excellence and the Oprah's Angel Network’s Use Your Life Award. Since being added as a core program to HOPE’s suite of financial literacy programs in 1996, it has reached nearly 700,000 students in more than 700 schools and community-based organizations in the U.S. and South Africa. Additionally, students will be offered an opportunity to grow their entrepreneurship aspirations through a HOPE Business-in-a-Box course. During these six-week sessions they can learn the process of turning a personal interest, dream or skill into a viable business idea. With the assistance of a business role model or local professionals and business owners, students will have an opportunity to launch their new business ventures.
The program aims to increase the number of young Americans involved in small business and entrepreneurship, as well cultivate the development of small businesses across America's underserved communities. Ultimately this training translates into financial dignity, a part of HOPE’s 20-year “silver rights” mission to make free enterprise and capitalism work for the poor and undeserved.
About Waypoint Homes
Based in Oakland, California, Waypoint Homes (www.waypointhomes.com) acquires, renovates, leases, maintains and manages single-family homes. Waypoint Homes is striving to build a leading, nationally recognized brand that is based on a foundation of respect for its residents and the communities in which it operates. The mission of Waypoint Homes is to reinvent the home rental experience by providing quality homes, great service and rewarding lease programs that offer valuable benefits to its residents while generating attractive returns for its investors. Since beginning operations in 2009, Waypoint Homes has acquired more than 4,000 homes in five states.
About Operation HOPE
Since 1992, Operation HOPE has been America’s leading financial literacy and empowerment nonprofit. Through its four principal portfolios: Banking on Our Future, HOPE Coalition America, HOPE Financial Literacy Empowerment Centers, and HOPE Corps, the organization addresses youth and adult financial literacy, economic preparedness, bridges the digital divide and promotes home ownership and assists with foreclosure prevention. With the support of more than 400 private sector companies, 5,000 nonprofit organizations and schools and government partners, HOPE has reached over 2 million low-wealth individuals in 70 U.S. cities and South Africa. The social investment banking organization has raised more than $500 million and helped to restructure more than $360 million in sub-prime mortgages from the private sector, for more than a total of approximately $1 billion in economic activity for the disenfranchised. To learn more about HOPE, visit our website at www.operationhope.org, www.twitter.com/operationhope, and www.facebook.com/operationhope.