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Mon. 4 Oct 2021, 9:00am ETBenzinga
In: Press Releases

Expanded nonprofit partnerships and more than $1 million in philanthropic commitments through Equitable Foundation increase access to education to empower overall financial well-being

Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE:EQH), today announced a new, multi-year partnership with Purposity, a not-for-profit online platform that helps people see and respond to real-time, essential needs in their local communities.

Using the Purposity app, community members can identify people in need and provide them with basic critical needs, ranging from school supplies to a new pair of shoes to even bedding on which to sleep at night.

Equitable's work with Purposity focuses in Charlotte, N.C., where the company has a significant presence. Through the partnership and a grant from Equitable Foundation, the company's philanthropic arm, Purposity has equipped more than seventy school social workers to help identify needs and link resources within Charlotte Mecklenburg Schools.

The partnership is one of a number of expanded commitments totaling more than $1 million by Equitable Foundation to support educators and students, foster healthy and vibrant communities and advance equity and inclusion.

"There's a powerful link between education and the vibrancy and sustainability of communities. No one understands that connection more than the teachers and school administrators who are often the first to identify the underlying needs in their community that can hold students back," said Jessica Baehr, Head of Group Retirement at Equitable. "Through our partnership with Purposity and other nonprofit organizations, we are proud to expand our commitments to support K-12 educators and help improve students' access to education resources we know directly contribute to their overall financial well-being."

"Purposity is built on the simple truth that if you knew a kid down the street had holes in her shoes and couldn't afford new ones, you'd buy her a pair," says Purposity Founder and CEO Blake Canterbury. "We are grateful for Equitable's support in Charlotte to help engage the CMS community to help students in need and set them up for success."

Equitable Foundation Focus Commitments in Charlotte Mecklenburg School District

Building off Equitable's partnership with Purposity, the company is focusing increased resources in the Charlotte Mecklenburg Schools (CMS), which serves more than 9,000 educators and 145,000 students in the Charlotte, N.C. metropolitan area.

"In the time that CMS personnel have been using Purposity, we have found it to be efficient and effective in supporting simple student and family needs that ultimately can help our students focus more on instruction and less on things they may be lacking," said Michele King, Director, CMS Student Wellness and Academic Support.

"As a parent of children who attend CMS schools, I am thrilled Equitable is collaborating with Purposity to make a greater impact right here in the Carolinas," said Matthew Foxhall, Eastern Region Vice President of the Carolinas Branch of Equitable Advisors, LLC. "I personally have the Purposity app on my phone and have used it to identify and respond to the real-time needs of the community in Charlotte. I think having additional tools and resources – like Purposity – that demonstrate our support of the communities we live in and serve is invaluable to the work we do."

Research from Opportunity Insights and the U.S. Census Bureau found that rates of upward social mobility vary substantially based on where children grow up and that Charlotte, N.C. ranks among the lowest of the 50 largest U.S. metro areas in terms of economic mobility of its residents. In addition, disruptions in traditional learning brought on by COVID-19 has widened preexisting opportunity and achievement gaps, impacting historically disadvantaged students the most.

To address this issue, Equitable has formed new partnerships with a variety of nonprofit organizations serving the needs of both students and educators in the Charlotte market. The partnerships include:

  • Carolina Youth Coalition (CYC) - Equitable is supporting the work of CYC's College Success Program, which provides college tours, mentorship, individualized college guidance, financial aid counseling, standardized test prep, writing coaching, career exploration opportunities, and leadership development. Equitable's support will ensure 250 students gain access to multiple college tours each academic school year.
  • Classroom Central - Equitable will provide more than 11,000 pencil kits and 500 backpacks filled with school supplies to Classroom Central, which provides free school supplies to area students in need.
  • Charlotte Mecklenburg School (CMS) Teaching Residency - With Equitable's help, the district's foundation provides an accelerated, affordable pathway for passionate professionals to become licensed classroom teachers in the area. A financial grant by Equitable will help fund scholarships for aspiring K-12 teachers in the district to obtain the edTPA, a performance-based support system and help them prepare for the classroom.
  • Harvey B. Gantt Center - Equitable is sponsoring access to social justice exhibitions for 500 K-12 teachers in the district to help encourage constructive classroom dialogue that builds empathy and understanding about student diversity.
  • MeckEd - Equitable supports Career Pathways, a workforce development initiative that provides economically disadvantaged students in Mecklenburg County with meaningful experiential learning experiences and offers exposure to a variety of post-secondary opportunities. MeckEd works to ensure that all children in Mecklenburg County have access to public education that results in the knowledge, skills and experiences necessary to lead productive and successful lives.

A full list of Equitable's current philanthropic commitments to support educators and students can be found at equitable.com/foundation.

About Equitable

Equitable, a principal franchise of Equitable Holdings, Inc. (NYSE:EQH), has been one of America's leading financial services providers since 1859. With the mission to help clients secure their financial well-being, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. Equitable has more than 8,000 employees and Equitable Advisors financial professionals and serves 2.8 million clients across the country. Equitable Advisors, LLC (member FINRA, SIPC) is Equitable Financial Advisors in Michigan and Tennessee. Please visit equitable.com for more information. GE-3800197.1(09/21)(exp.09/23)

About Purposity

Purposity, a portmanteau of purpose and generosity, is a free non-profit online platform that partners with established nonprofits and school systems to connect the critical, physical needs of people who need aid to a vast community of users who want to help. The platform provides a safe, simple way for people to provide help to neighbors in need, through just a few clicks. Download in the App Store or Google Play. Purposity has been recently featured in various media outlets such as NBC's Today Show and People Magazine. Visit Purposity.com for more information and follow-on Facebook, Twitter, and Instagram @purposity.