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September 01 2011

Statement From Operation HOPE: Reflections On A Recession in Philanthropy

There is no doubt that the global economic crisis has caused a recession in philanthropic giving in America, but thanks to the partners and supporters who have continued to support the work of Operation HOPE, through volunteerism, financial support and leadership initiatives, we have been able to accomplish:

  • Serving more than 1.5 million low-wealth and working class individuals, families, small businesses and entrepreneurs, and in this global economic crisis, even the middle-class.
  • Empowering over 580,000 youth with financial literacy, working in more than 5,000 low-wealth schools, non-profit and faith-based organizations.
  • Helping 1,200 families save their homes from foreclosure, totaling more than $400 million in modified or restructured mortgages.
  • Recruitment and mobilization of over 15,000 HOPE Corps volunteers on-the-ground, in classrooms, in our HOPE Financial Literacy Empowerment Centers, and through our free call centers.
  • Assisting over 100,000 victims of Hurricane Katrina, making Operation HOPE one of the top 5 responders to Hurricane Katrina.
  • Partnering with the Financial Services Roundtable to raise $5 million to build and operate the HOPE Financial Literacy Empowerment Center at Ebenezer, in Atlanta, Georgia.
  • With a total annual budget approaching $20 million, HOPE serves those in need in more than 70 U.S. communities, seven provinces in South Africa, and partnership offices in Morocco and Norway, amongst others.

Operation HOPE has built the nation’s only national urban delivery system for financial literacy empowerment, over the past 19-years.

We are grateful for the continued support received, and remain vigilant about investing resources into the communities we serve, which represents an overall investment of more than $1 billion in under-served communities, since our founding after the Rodney King Riots of Los Angeles in 1992.

Operation HOPE, through HOPE Coalition America (a national partnership with FEMA), is currently responding to the great need of those who survived the southern tornadoes in Alabama.  We are committed to helping those in need regain, or build, their economic strength.

More details about our work are available on our website.

Read the New York Times story on Wall Street Giving here.