January 07 2012
Operation HOPE Champions Record Contributions to Silver Rights Mission to Empower Underserved Communities
Global nonprofit receives nearly $9 million in one-week, despite economic slowdown
Los Angeles – Operation HOPE (HOPE) reported today, receiving the largest total contributions ever made in a one-week period during the nonprofit’s 20-year history during the month of December. Partners E*TRADE Bank, Bank of the West, and Gallup, Inc. renewed support for the financial dignity leader, contributing a record $8.7 million in combined resources. The assets will support the organization’s efforts to bring better access to financial services, economic education, and digital empowerment to underserved communities nationwide.
E*TRADE Bank’s, $2 million commitment focuses on youth and adult programs located in New York and the Washington, DC metropolitan areas, while Bank of the West’s $1.7 million commitment targets support for the HOPE Centers and Banking on Our Future youth financial literacy programs primarily located in the West. Both financial institutions provided initial seed capital for the Gallup-HOPE Index.
Through HOPE, Gallup has committed a $5 million investment to audit and measure U.S. school students for the Gallup-HOPE Index, as its gift to American schools. In 2010, HOPE signed a memorandum of understanding, outlining a 100-year partnership with the research leader to measure the economic energy of American student’s grades 5 –12, which may ultimately become the nation’s indicator for the Gross National Product and job growth.
The Index, a national survey of American students created by Gallup for HOPE, is driven by collaboration with an advisory board of financial literacy and youth and community development experts from government, nonprofit, and corporate backgrounds.
Headquartered in Los Angeles, Operation HOPE promotes financial dignity through financial literacy and education tools to underserved communities in more than 71 cities worldwide. Through it four core portfolios, the organization has provided youth and adult financial literacy, economic preparedness, digital empowerment, in addition to promoting home ownership, and assisting with foreclosure prevention to more than 2 million individuals, families and small business owners. In 2012, HOPE will celebrate two decades of making the free market system work for low-income communities in a Silver Rights Movement to eradicate poverty and build dignity.