April 08 2005
The Harry and Jeanette Weinberg Foundation Awards $350,000 to Operation HOPE's Banking on Our Future Financial Literacy Program
BALTIMORE, MD – April 8, 2005 - The Harry and Jeannette Weinberg Foundation, Inc., announced a $350,000 grant awarded to Operation HOPE’s financial literacy program Banking on Our Future. The grant earmarks $150,000 of these funds to continue the implementation of Banking on Our Future in Baltimore, and $100,000 to help support the financial literacy efforts of this program in the other twelve cities that is imparted. In addition, $100,000 will be allocated to sponsor Banking on Our Future Across America 2005.
Through a series of VIP teaching sessions, Banking on Our Future Across America 2005 is an annual financial literacy campaign in thirteen cities in the U.S. which purpose is to raise awareness of the need to reach out to youth in underserved communities of the nation, and is a call to action to expand teaching volunteer support for the program. This drive will be launched in April 12, 2005 in Atlanta, Georgia by Operation HOPE’s national spokesman Ambassador Andrew Young.
OHI’s Banking on Our Future program is an on the ground and online financial literacy program, which includes 12 program offices in Oregon, California, Illinois, Washington D.C., Georgia, Massachusetts, Maryland, Virginia, Pennsylvania, and New York. Since its inception this program has educated over 140,000 youths nationwide in financial literacy. Banking on Our Future, winner of the Oprah’s Angel Network award and the U.S. Treasury Department’s John Sherman Award for financial literacy excellence, is America’s only national urban delivery platform for financial literacy in the country. Using a growing network of 2,000 trained HOPE Corps volunteers, the Banking on Our Future program teaches four core modules, about the basics of banking; how to open and maintain a checking and savings account; the power of credit; and basic investments.
“We are thankful to the Weinberg Foundation’s generous contribution which is an investment in our nation’s youth. By gathering the contributions of financial community, of foundations like the Weinberg, government agencies, and the commitments of dedicated volunteers across America, we are taking concrete steps to eradicating poverty in the country. To all our friends in this cause my deepest gratitude,” said John Bryant, founder, chairman, and CEO.
About the The Harry and Jeanette Weinberg Foundation, Inc.
The Weinberg Foundation, based in Baltimore, Honolulu, and Scranton, is among the 25 largest private foundations in the United States, and is the largest Jewish-oriented foundation in the world. The Foundation’s assets have grown from $900 million at Mr. Weinberg’s death to $2 billion today.
The Foundation‘s grants are made primarily throughout the U.S., Canada, Israel, and the Former Soviet Union. Foundation grants to public charities are made to alleviate the poverty of non-able-bodied poor people, including the elderly and the severely disabled. Foundation grants to public charities also are made to reduce the poverty of the able-bodied, by providing them with the knowledge, skills, attitudes, behaviors, and other tools and support services needed to lift themselves from poverty and become self-sufficient citizens. About half of the Foundation’s annual grants --- approximately $45-$50 million – benefit poor Jews.
Harry and Jeannette Weinberg surely would be proud that their Foundation has helped, and continues to make a positive difference in the lives of poor people, including those served by Operation Hope, Inc.
About Operation HOPE, Inc.
Operation HOPE, Inc. (OHI), is America's first nonprofit social investment bank and a national provider of financial literacy and economic empowerment programs. Through ongoing collaborations and long-term partnerships with leading government, private sector, and community interests, OHI works to bring self-sufficiency and a sustained spirit of revitalization to America's inner-city communities. OHI's HOPE Centers, a growing network of inner-city banking centers, have created more than 800 new homeowners and small business owners, more than $125 million in funded loans, and more than $210 million in commitments for homeownership and small business loans from their 250 bank and corporate partners. In partnership with the U.S. Department of Homeland Security, the Federal Emergency Management Agency, and a network of private and community partners, OHI's HOPE Coalition America has provided free financial counseling and casework services to Americans affected by natural disasters and national emergencies in 125 cities in 35 states to date. OHI and its programs can be found online at www.operationhope.org, www.bankingonourfuture.org, and www.hopecoalitionamerica.org.