November 12 2013
Operation HOPE to Announce New Multi-Year Initiative to Boost Financial Empowerment in Underserved Communities at 2013 HOPE Summit
Project 5117 outlines tipping-point for success and tracks impact of HOPE programs and services, to be announced November 14, 2013.
LOS ANGELES – November 12, 2013 – Operation HOPE (HOPE), the leading global financial dignity nonprofit, will announce the formation of Project 5117 at the HOPE Global Financial Dignity Summit, Thursday, November 14th. Project 5117, a multi-year undertaking, will help HOPE turn underserved communities into emerging markets, increasing business role models for youth, boost credit scores for adults, and empower underserved communities.
Project 5117 is a title that references the metrics that are used to assess the impact of Operation HOPE’s programs and services from now until 2020. Through Project 5117, HOPE aims to:
- Encourage 5 million youth to stay in school through the “make smart cool” 5MK Initiative;
- Empower 1 million students to become future entrepreneurs and local job creators through HOPE Business In A Box;
- Open 1,000 HOPE Inside locations where individuals can receive financial literacy empowerment;
- Turn low-wealth communities where the average credit score is 550 to 700 Credit Score Communities by raising individual credit scores
“Project 5117 is the ultimate playbook for success that integrates HOPE’s most vital programs and services,” said John Hope Bryant, Operation HOPE founder, chairman and CEO. “5117 is modeled after the second phase of Dr. King’s ‘Poor People’s Campaign,’ which was the last great battle of his life. By helping to fulfill Dr. King’s Dream, it is our goal to deliver millions of families across the globe from poverty to opportunity.”
HOPE seeks to move the national average of role models in a community from 5% to 20% through its youth financial literacy programs Banking on Our Future, HOPE Business in A Box and 5MK. To raise credit scores in underserved communities HOPE will promote the 700 Credit Score Community program. To assist with wealth building and supplement the income of those who earn below the poverty line, Earned Income Tax Credit (EITC) outreach will be provided by Operation HOPE. Through our HUD-certified homeownership counseling and Mortgage HOPE Crisis Hotline families and individuals facing will be able to secure their dreams of owning a home. Through HOPE Coalition America, Operation HOPE will work to provide emergency disaster response and recovery as an official partner of FEMA to ensure that families and businesses can quickly rebuild after a disaster.
The lead national partners already include the Gallup Organization, which supports HOPE Business-In-A-Box, and Sun Trust Banks, the 8th largest bank in America, which supports multiple HOPE Inside locations.
In partnership with the city of Atlanta, the two-day HOPE summit, “Global Economic Recovery: How The Poor Can Help Save Capitalism,” will be moderated by Soledad O’Brien and frame the issue of financial inclusion, small business, entrepreneurship, jobs, and financial dignity as essential core ingredients to mid and long-term economic recovery and stability. It is expected to draw 1,000 of the most dynamic and influential financial industry professionals, government decision-makers and faith leaders from more than 50 countries around the world.
About Operation HOPE, Inc.
Operation HOPE (HOPE) is an international nonprofit organization dedicated to promoting financial literacy and dignity through various educational programs and initiatives. Since its founding in 1992, HOPE has served more than two million individuals and directed more than $1.5 billion in private capital to low-wealth communities. It maintains a growing army of 20,000 HOPE Corps volunteers, and currently serves more than 300 U.S. cities, as well as South Africa, Saudi Arabia, Morocco, and the United Arab Emirates. At the core of HOPE’s mission to eradicate poverty and empower people through financial literacy is a “silver rights” movement to ensure that free enterprise and capitalism work for the underserved.
To learn more about the 2nd annual HOPE Global Financial Dignity Summit and how you can participate, visit http://summit.operationhope.org. Those not able to attend the Summit in person are encouraged to participate via live stream provided by Kaplan University by logging on at https://kapx.kaplan.com/operation-hope/.